CORDA Investment Management LLC. Purchases New Stake in Duke Energy Corporation $DUK

CORDA Investment Management LLC. bought a new position in shares of Duke Energy Corporation (NYSE:DUK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,168 shares of the utilities provider’s stock, valued at approximately $3,059,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of DUK. Brighton Jones LLC boosted 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 purchasing an additional 700 shares during the period. Empowered Funds LLC boosted its position 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 buying an additional 3,797 shares during the period. Schnieders Capital Management LLC. grew its holdings in Duke Energy by 1.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 31,238 shares of the utilities provider’s stock worth $3,686,000 after buying an additional 315 shares in the last quarter. AXA S.A. increased its position in Duke Energy by 523.4% in the 2nd quarter. AXA S.A. now owns 42,233 shares of the utilities provider’s stock valued at $4,983,000 after acquiring an additional 35,458 shares during the period. Finally, Nebula Research & Development LLC bought a new stake in Duke Energy during the 2nd quarter valued at $954,000. Institutional investors and hedge funds own 65.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on DUK. Weiss Ratings restated a “buy (b)” rating on shares of Duke Energy in a research report on Friday, July 31st. Morgan Stanley lowered their price objective on shares of Duke Energy from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Friday, August 21st. BMO Capital Markets cut their target price on Duke Energy from $134.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, August 5th. Truist Financial decreased their price target on Duke Energy from $138.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, August 17th. Finally, Evercore boosted their price objective on Duke Energy from $139.00 to $140.00 in a research note on Monday, May 11th. Ten investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $137.94.

Duke Energy Stock Up 0.9%

Duke Energy stock traded up $1.10 during trading hours on Tuesday, hitting $121.32. The company had a trading volume of 3,462,335 shares, compared to its average volume of 3,982,849. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.66 and a quick ratio of 0.43. Duke Energy Corporation has a fifty-two week low of $113.89 and a fifty-two week high of $134.49. The firm’s fifty day moving average is $124.59 and its 200-day moving average is $126.39. The firm has a market capitalization of $94.59 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 2.80 and a beta of 0.37.

Duke Energy (NYSE:DUK) last issued its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.13. Duke Energy had a return on equity of 9.78% and a net margin of 15.78%.The business had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same period last year, the business earned $1.25 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, research analysts forecast that Duke Energy Corporation will post 6.72 earnings per share for the current year.

Duke Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be paid a $1.085 dividend. The ex-dividend date is Friday, August 14th. This is a boost from Duke Energy’s previous quarterly dividend of $1.06. This represents a $4.34 annualized dividend and a dividend yield of 3.6%. Duke Energy’s dividend payout ratio is 65.17%.

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.