QRG Capital Management Inc. Purchases 16,158 Shares of Duke Energy Corporation $DUK

QRG Capital Management Inc. raised its position in shares of Duke Energy Corporation (NYSE:DUK) by 10.7% during the first quarter, HoldingsChannel.com reports. The fund owned 167,059 shares of the utilities provider’s stock after buying an additional 16,158 shares during the quarter. QRG Capital Management Inc.’s holdings in Duke Energy were worth $21,875,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Basso Capital Management L.P. bought a new position in Duke Energy during the fourth quarter worth $25,000. Dorato Capital Management bought a new position in Duke Energy in the fourth quarter worth approximately $26,000. Evolution Wealth Management Inc. increased its holdings in shares of Duke Energy by 1,111.1% during the fourth quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. KERR FINANCIAL PLANNING Corp bought a new position in shares of Duke Energy in the 3rd quarter worth $27,000. Finally, Triumph Capital Management increased its stake in Duke Energy by 68.6% during the 4th quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 94 shares in the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.

Duke Energy Price Performance

Duke Energy stock opened at $129.44 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. The business’s 50 day simple moving average is $125.06 and its 200 day simple moving average is $124.78. Duke Energy Corporation has a 12 month low of $113.89 and a 12 month high of $134.49. The company has a market cap of $100.91 billion, a price-to-earnings ratio of 19.82 and a beta of 0.38.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.06. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the prior year, the company earned $1.76 EPS. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. Sell-side analysts forecast that Duke Energy Corporation will post 6.71 EPS for the current year.

Duke Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Friday, May 15th were issued a $1.065 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.26 annualized dividend and a yield of 3.3%. Duke Energy’s dividend payout ratio (DPR) is 65.24%.

Insiders Place Their Bets

In other Duke Energy news, CEO Harry K. Sideris sold 20,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the sale, the chief executive officer owned 96,102 shares of the company’s stock, valued at $11,952,205.74. The trade was a 17.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Louis E. Renjel sold 3,500 shares of Duke Energy stock in a transaction on Monday, May 11th. The shares were sold at an average price of $125.15, for a total value of $438,025.00. Following the completion of the transaction, the chief executive officer owned 21,415 shares of the company’s stock, valued at approximately $2,680,087.25. This trade represents a 14.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on DUK shares. JPMorgan Chase & Co. lowered their target price on shares of Duke Energy from $139.00 to $136.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Morgan Stanley raised their price objective on Duke Energy from $132.00 to $136.00 in a research note on Wednesday, June 24th. BMO Capital Markets reduced their target price on shares of Duke Energy from $139.00 to $138.00 in a research note on Wednesday, May 6th. Barclays cut their price target on shares of Duke Energy from $143.00 to $134.00 and set an “overweight” rating on the stock in a report on Thursday, June 18th. Finally, Evercore lifted their target price on shares of Duke Energy from $139.00 to $140.00 in a research report on Monday, May 11th. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Duke Energy has an average rating of “Moderate Buy” and an average price target of $138.33.

Duke Energy Company Profile

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.