Synovus Financial Corp Purchases 7,494 Shares of Duke Energy Corporation $DUK

Synovus Financial Corp lifted its stake in Duke Energy Corporation (NYSE:DUK) by 5.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 149,310 shares of the utilities provider’s stock after acquiring an additional 7,494 shares during the period. Synovus Financial Corp’s holdings in Duke Energy were worth $18,479,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Legacy Investment Solutions LLC bought a new stake in shares of Duke Energy during the second quarter worth approximately $28,000. Access Investment Management LLC acquired a new stake in Duke Energy during the 2nd quarter worth $31,000. Meeder Asset Management Inc. acquired a new stake in shares of Duke Energy during the third quarter worth about $39,000. Anfield Capital Management LLC increased its stake in Duke Energy by 2,608.3% during the 2nd quarter. Anfield Capital Management LLC now owns 325 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 313 shares in the last quarter. Finally, Total Investment Management Inc. acquired a new position in shares of Duke Energy in the second quarter valued at approximately $46,000. 65.31% of the stock is owned by institutional investors and hedge funds.

Duke Energy Trading Down 1.2%

Shares of NYSE:DUK opened at $125.23 on Thursday. The business has a 50 day moving average of $119.39 and a 200-day moving average of $121.92. The stock has a market cap of $97.39 billion, a PE ratio of 19.82, a P/E/G ratio of 2.75 and a beta of 0.51. Duke Energy Corporation has a 12-month low of $110.95 and a 12-month high of $130.03. The company has a quick ratio of 0.33, a current ratio of 0.55 and a debt-to-equity ratio of 1.54.

Duke Energy (NYSE:DUK) last released its quarterly earnings results on Monday, February 9th. The utilities provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.49 by $0.01. Duke Energy had a net margin of 15.41% and a return on equity of 9.66%. The business had revenue of $7.94 billion for the quarter, compared to the consensus estimate of $7.57 billion. During the same period in the prior year, the company posted $1.66 earnings per share. As a group, equities research analysts forecast that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 13th will be issued a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Friday, February 13th. Duke Energy’s dividend payout ratio is presently 67.41%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on DUK shares. Scotiabank increased their price objective on Duke Energy from $137.00 to $146.00 and gave the stock a “sector outperform” rating in a report on Tuesday, December 16th. The Goldman Sachs Group lifted their price target on shares of Duke Energy from $141.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Weiss Ratings restated a “buy (b)” rating on shares of Duke Energy in a report on Monday, December 29th. JPMorgan Chase & Co. reduced their price target on Duke Energy from $136.00 to $126.00 and set a “neutral” rating for the company in a research report on Thursday, December 11th. Finally, Wells Fargo & Company dropped their price objective on Duke Energy from $126.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 20th. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Duke Energy presently has an average rating of “Moderate Buy” and a consensus target price of $135.19.

Insider Transactions at Duke Energy

In related news, CEO Louis E. Renjel sold 6,800 shares of Duke Energy stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $127.67, for a total transaction of $868,156.00. Following the sale, the chief executive officer directly owned 22,007 shares in the company, valued at $2,809,633.69. This trade represents a 23.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

Duke Energy 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.