Strategic Advisors LLC Reduces Stake in Duke Energy Corporation $DUK

Strategic Advisors LLC lessened its position in shares of Duke Energy Corporation (NYSE:DUK) by 86.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,475 shares of the utilities provider’s stock after selling 58,266 shares during the quarter. Strategic Advisors LLC’s holdings in Duke Energy were worth $1,199,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Basso Capital Management L.P. purchased a new stake in Duke Energy in the 4th quarter valued at approximately $25,000. Evolution Wealth Management Inc. increased its position in Duke Energy by 1,111.1% during the fourth quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Triumph Capital Management raised its holdings in shares of Duke Energy by 68.6% in the fourth quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 94 shares during the last quarter. Cornerstone Financial Management LLC acquired a new position in shares of Duke Energy in the fourth quarter worth $28,000. Finally, Cornerstone Planning Group LLC lifted its position in shares of Duke Energy by 13,750.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 277 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 275 shares in the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.

Duke Energy Price Performance

Shares of NYSE DUK opened at $120.20 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.66 and a debt-to-equity ratio of 1.47. Duke Energy Corporation has a fifty-two week low of $113.89 and a fifty-two week high of $134.49. The business has a 50 day moving average price of $125.32 and a two-hundred day moving average price of $126.64. The firm has a market cap of $93.72 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 2.81 and a beta of 0.38.

Duke Energy (NYSE:DUK) last released its earnings results on Monday, August 3rd. The utilities provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.13. Duke Energy had a return on equity of 9.78% and a net margin of 15.78%.The company had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter last year, the business posted $1.25 EPS. Duke Energy’s quarterly revenue was up 1.1% compared to the same quarter last year. Sell-side analysts expect that Duke Energy Corporation will post 6.72 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Friday, August 14th will be given a $1.085 dividend. This represents a $4.34 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, August 14th. This is an increase from Duke Energy’s previous quarterly dividend of $1.06. Duke Energy’s payout ratio is 65.17%.

Analyst Ratings Changes

DUK has been the topic of a number of analyst reports. KeyCorp upgraded shares of Duke Energy from a “sector weight” rating to an “overweight” rating and set a $139.00 target price on the stock in a research report on Thursday, July 23rd. Truist Financial cut their price target on Duke Energy from $138.00 to $135.00 and set a “buy” rating for the company in a report on Monday, August 17th. Evercore increased their price target on Duke Energy from $139.00 to $140.00 in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Duke Energy in a research report on Friday, July 31st. Finally, Mizuho set a $136.00 target price on Duke Energy in a research note on Wednesday, August 5th. Ten investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Duke Energy has an average rating of “Moderate Buy” and an average target price of $137.94.

About Duke Energy

Duke Energy Corporation is a U.S.-based electric power holding company headquartered in Charlotte, North Carolina. The company’s core business is the generation, transmission and distribution of electricity to residential, commercial and industrial customers. Duke Energy operates a mix of regulated electric utilities and non-regulated energy businesses, providing essential energy infrastructure and services across multiple states.

Its operating activities include owning and operating generation assets across a portfolio that encompasses nuclear, natural gas, coal, hydroelectric and an expanding array of renewable resources, as well as battery storage and grid modernization projects.