Investors Buy Duke Energy (DUK) on Weakness

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Traders bought shares of Duke Energy Corp (NYSE:DUK) on weakness during trading on Tuesday. $73.25 million flowed into the stock on the tick-up and $44.12 million flowed out of the stock on the tick-down, for a money net flow of $29.13 million into the stock. Of all equities tracked, Duke Energy had the 29th highest net in-flow for the day. Duke Energy traded down ($0.29) for the day and closed at $78.79

DUK has been the topic of a number of research reports. Zacks Investment Research raised shares of Duke Energy from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Wednesday, May 30th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $90.00 price target on shares of Duke Energy in a research note on Wednesday, March 14th. Deutsche Bank raised shares of Duke Energy from a “hold” rating to a “buy” rating and raised their price target for the company from $77.22 to $86.00 in a research note on Monday, February 26th. Bank of America raised shares of Duke Energy from a “neutral” rating to a “buy” rating and set a $81.00 price target on the stock in a research note on Wednesday, June 20th. Finally, Morgan Stanley raised their price target on shares of Duke Energy from $83.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, April 16th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. Duke Energy presently has an average rating of “Hold” and an average target price of $82.57.

The firm has a market cap of $54.28 billion, a P/E ratio of 17.24, a PEG ratio of 3.55 and a beta of 0.12. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.64.

Duke Energy (NYSE:DUK) last released its quarterly earnings data on Thursday, May 10th. The utilities provider reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.14. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.76 billion. Duke Energy had a net margin of 12.33% and a return on equity of 8.10%. Duke Energy’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 EPS. research analysts expect that Duke Energy Corp will post 4.7 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 18th. Shareholders of record on Friday, May 18th were issued a $0.89 dividend. The ex-dividend date was Thursday, May 17th. This represents a $3.56 dividend on an annualized basis and a yield of 4.52%. Duke Energy’s payout ratio is 77.90%.

In other news, COO Dhiaa M. Jamil sold 3,800 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $76.98, for a total transaction of $292,524.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director E Marie Mckee sold 2,006 shares of the firm’s stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $77.49, for a total transaction of $155,444.94. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Zimmer Partners LP increased its holdings in Duke Energy by 939.3% in the 1st quarter. Zimmer Partners LP now owns 7,110,600 shares of the utilities provider’s stock valued at $550,858,000 after purchasing an additional 6,426,400 shares during the last quarter. Willis Investment Counsel increased its holdings in Duke Energy by 1.2% in the 1st quarter. Willis Investment Counsel now owns 190,489 shares of the utilities provider’s stock valued at $14,757,000 after purchasing an additional 2,303 shares during the last quarter. Earnest Partners LLC increased its holdings in Duke Energy by 48.8% in the 1st quarter. Earnest Partners LLC now owns 55,482 shares of the utilities provider’s stock valued at $4,298,000 after purchasing an additional 18,206 shares during the last quarter. Deutsche Bank AG increased its holdings in Duke Energy by 1.2% in the 4th quarter. Deutsche Bank AG now owns 6,427,804 shares of the utilities provider’s stock valued at $540,637,000 after purchasing an additional 78,580 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new stake in Duke Energy in the 4th quarter valued at approximately $3,319,000. Institutional investors and hedge funds own 59.05% of the company’s stock.

About Duke Energy

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; uses coal, hydroelectric, natural gas, oil, renewable sources, and nuclear fuel to generate electricity; and engages in the wholesale of electricity to municipalities, electric cooperative utilities, and other load-serving entities.

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