Public Employees Retirement System of Ohio Buys New Position in Duke Energy Corporation $DUK

Public Employees Retirement System of Ohio purchased a new stake in Duke Energy Corporation (NYSE:DUK) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 321,560 shares of the utilities provider’s stock, valued at approximately $40,703,000.

Other large investors have also modified their holdings of the company. Ables Iannone Moore & Associates Inc. boosted its stake in Duke Energy by 1.2% in the 2nd quarter. Ables Iannone Moore & Associates Inc. now owns 6,623 shares of the utilities provider’s stock worth $838,000 after purchasing an additional 80 shares in the last quarter. Sharp Wealth Advisory LLC increased its stake in Duke Energy by 4.5% during the 1st quarter. Sharp Wealth Advisory LLC now owns 1,876 shares of the utilities provider’s stock valued at $246,000 after purchasing an additional 81 shares in the last quarter. Absher Wealth Management LLC raised its holdings in shares of Duke Energy by 2.3% in the first quarter. Absher Wealth Management LLC now owns 3,648 shares of the utilities provider’s stock worth $478,000 after buying an additional 81 shares during the last quarter. A4 Wealth Advisors LLC raised its holdings in shares of Duke Energy by 3.3% in the fourth quarter. A4 Wealth Advisors LLC now owns 2,597 shares of the utilities provider’s stock worth $304,000 after buying an additional 82 shares during the last quarter. Finally, Elm Partners Management LLC lifted its stake in shares of Duke Energy by 0.9% during the fourth quarter. Elm Partners Management LLC now owns 9,254 shares of the utilities provider’s stock worth $1,085,000 after buying an additional 83 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Performance

Shares of DUK stock opened at $120.20 on Friday. The company has a market capitalization of $93.72 billion, a P/E ratio of 18.05, a P/E/G ratio of 2.82 and a beta of 0.38. The business’s 50 day moving average is $125.32 and its two-hundred day moving average is $126.61. 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 12-month low of $113.89 and a 12-month high of $134.49.

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 net margin of 15.78% and a return on equity of 9.78%. The business had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter in the previous year, the company earned $1.25 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. Analysts expect that Duke Energy Corporation will post 6.72 EPS 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. Shareholders of record on Friday, August 14th will be paid a dividend of $1.085 per share. This represents a $4.34 dividend on an annualized basis and a yield of 3.6%. This is an increase from Duke Energy’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend is Friday, August 14th. Duke Energy’s dividend payout ratio is presently 65.17%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. BMO Capital Markets dropped their price target on Duke Energy from $134.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 5th. Morgan Stanley decreased their target price on shares of Duke Energy from $138.00 to $133.00 and set an “equal weight” rating for the company in a research report on Friday, August 21st. Truist Financial cut their price target on Duke Energy from $138.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, August 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Duke Energy in a report on Friday, July 31st. Finally, 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. Ten equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Duke Energy has an average rating of “Moderate Buy” and a consensus 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.