9,081 Shares in Duke Energy Corporation $DUK Acquired by Dearborn Partners LLC

Dearborn Partners LLC acquired a new position in shares of Duke Energy Corporation (NYSE:DUK) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 9,081 shares of the utilities provider’s stock, valued at approximately $1,149,000.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Duke Energy by 11.6% during the 4th quarter. Brighton Jones LLC now owns 6,754 shares of the utilities provider’s stock valued at $728,000 after acquiring an additional 700 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Duke Energy by 19.6% during the first quarter. Empowered Funds LLC now owns 23,162 shares of the utilities provider’s stock worth $2,825,000 after purchasing an additional 3,797 shares during the period. Schnieders Capital Management LLC. grew its position in Duke Energy by 1.0% during the second quarter. Schnieders Capital Management LLC. now owns 31,238 shares of the utilities provider’s stock valued at $3,686,000 after purchasing an additional 315 shares in the last quarter. AXA S.A. grew its position in Duke Energy by 523.4% during the second quarter. AXA S.A. now owns 42,233 shares of the utilities provider’s stock valued at $4,983,000 after purchasing an additional 35,458 shares in the last quarter. Finally, Nebula Research & Development LLC acquired a new position in Duke Energy in the 2nd quarter valued at approximately $954,000. 65.31% of the stock is owned by institutional investors and hedge funds.

Duke Energy Stock Down 0.9%

Duke Energy stock opened at $120.79 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.43 and a debt-to-equity ratio of 1.47. Duke Energy Corporation has a 1-year low of $113.89 and a 1-year high of $134.49. The firm’s fifty day simple moving average is $125.40 and its 200-day simple moving average is $126.65. The company has a market capitalization of $94.18 billion, a P/E ratio of 18.14, a P/E/G ratio of 2.84 and a beta of 0.38.

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

Duke Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Friday, August 14th will be issued a dividend of $1.085 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $4.34 dividend on an annualized basis and a dividend yield of 3.6%. This is a positive change from Duke Energy’s previous quarterly dividend of $1.06. Duke Energy’s payout ratio is currently 65.17%.

Wall Street Analyst Weigh In

DUK has been the subject of a number of research reports. BTIG Research reissued a “buy” rating on shares of Duke Energy in a research note on Thursday, July 23rd. KeyCorp raised shares of Duke Energy from a “sector weight” rating to an “overweight” rating and set a $139.00 price target on the stock in a research note on Thursday, July 23rd. JPMorgan Chase & Co. increased their price objective on Duke Energy from $136.00 to $141.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Barclays lowered their target price on Duke Energy from $140.00 to $132.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 5th. Finally, Jefferies Financial Group cut their price target on Duke Energy from $143.00 to $138.00 in a research note on Monday, May 11th. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $137.94.

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.