Connable Office Inc. Acquires New Stake in Duke Energy Corporation $DUK

Connable Office Inc. acquired a new position in Duke Energy Corporation (NYSE:DUK) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,766 shares of the utilities provider’s stock, valued at approximately $326,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GQG Partners LLC grew its position in shares of Duke Energy by 17,880.0% in the 1st quarter. GQG Partners LLC now owns 10,249,508 shares of the utilities provider’s stock worth $1,250,133,000 after acquiring an additional 10,192,503 shares in the last quarter. Nuveen LLC acquired a new position in shares of Duke Energy in the 1st quarter worth approximately $702,351,000. Raymond James Financial Inc. grew its position in shares of Duke Energy by 88.1% in the 1st quarter. Raymond James Financial Inc. now owns 4,861,309 shares of the utilities provider’s stock worth $592,934,000 after acquiring an additional 2,276,948 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Duke Energy by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider’s stock worth $9,094,327,000 after acquiring an additional 1,676,061 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its position in Duke Energy by 359.1% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,132,613 shares of the utilities provider’s stock valued at $138,145,000 after purchasing an additional 885,900 shares during the period. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wells Fargo & Company upgraded Duke Energy to a “hold” rating in a research report on Tuesday, October 28th. Morgan Stanley boosted their price objective on Duke Energy from $127.00 to $136.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. BMO Capital Markets lifted their target price on Duke Energy from $132.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Cowen started coverage on Duke Energy in a research note on Wednesday, October 15th. They set a “buy” rating on the stock. Finally, BTIG Research raised Duke Energy to a “strong-buy” rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $138.00.

Insider Buying and Selling at Duke Energy

In related news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $124.26, for a total transaction of $832,542.00. Following the transaction, the executive vice president directly owned 46,422 shares of the company’s stock, valued at approximately $5,768,397.72. The trade was a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bonnie B. Titone sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total value of $248,760.00. Following the transaction, the senior vice president directly owned 19,608 shares in the company, valued at $2,438,843.04. The trade was a 9.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is currently owned by insiders.

Duke Energy Trading Down 0.4%

Shares of DUK opened at $123.76 on Tuesday. The business’s 50-day moving average price is $123.90 and its 200 day moving average price is $120.76. The stock has a market capitalization of $96.24 billion, a P/E ratio of 20.12, a P/E/G ratio of 3.05 and a beta of 0.44. Duke Energy Corporation has a 1-year low of $105.20 and a 1-year high of $130.03. The company has a current ratio of 0.66, a quick ratio of 0.42 and a debt-to-equity ratio of 1.55.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.04). The company had revenue of $7.51 billion during the quarter, compared to analysts’ expectations of $7.07 billion. Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.18 EPS. Analysts expect that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 14th will be given a dividend of $1.065 per share. This represents a $4.26 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, November 14th. Duke Energy’s payout ratio is presently 69.27%.

Duke Energy Profile

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.