Investors Buy Duke Energy Corporation (DUK) on Weakness
Investors bought shares of Duke Energy Corporation (NYSE:DUK) on weakness during trading on Friday. $66.27 million flowed into the stock on the tick-up and $25.44 million flowed out of the stock on the tick-down, for a money net flow of $40.83 million into the stock. Of all stocks tracked, Duke Energy Corporation had the 22nd highest net in-flow for the day. Duke Energy Corporation traded down ($0.34) for the day and closed at $83.92
Several analysts have issued reports on DUK shares. Zacks Investment Research downgraded shares of Duke Energy Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. BidaskClub raised shares of Duke Energy Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) raised shares of Duke Energy Corporation from a “neutral” rating to a “buy” rating and upped their price target for the company from $82.00 to $85.00 in a report on Monday, June 26th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $87.00 price target (down previously from $91.00) on shares of Duke Energy Corporation in a report on Monday, July 10th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Duke Energy Corporation in a report on Friday, September 1st. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $83.05.
The company has a 50-day moving average of $86.74 and a 200 day moving average of $84.41. The company has a market capitalization of $58.74 billion, a PE ratio of 24.86 and a beta of 0.25.
Duke Energy Corporation (NYSE:DUK) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.01 EPS for the quarter, hitting the consensus estimate of $1.01. The business had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.76 billion. Duke Energy Corporation had a net margin of 9.89% and a return on equity of 7.72%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company posted $1.07 earnings per share. On average, equities research analysts expect that Duke Energy Corporation will post $4.60 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 18th. Investors of record on Friday, August 18th were issued a dividend of $0.89 per share. This is a boost from Duke Energy Corporation’s previous quarterly dividend of $0.86. This represents a $3.56 annualized dividend and a dividend yield of 4.24%. The ex-dividend date was Wednesday, August 16th. Duke Energy Corporation’s dividend payout ratio (DPR) is currently 105.64%.
In related news, EVP Douglas F. Esamann sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $86.22, for a total transaction of $431,100.00. Following the completion of the sale, the executive vice president now directly owns 50,316 shares in the company, valued at $4,338,245.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.07% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Perpetual Ltd boosted its holdings in shares of Duke Energy Corporation by 12.9% during the second quarter. Perpetual Ltd now owns 11,400 shares of the utilities provider’s stock worth $953,000 after purchasing an additional 1,300 shares during the period. Bogart Wealth LLC boosted its holdings in shares of Duke Energy Corporation by 35.9% during the second quarter. Bogart Wealth LLC now owns 22,726 shares of the utilities provider’s stock worth $1,900,000 after purchasing an additional 6,008 shares during the period. MPS Loria Financial Planners LLC acquired a new stake in shares of Duke Energy Corporation during the second quarter worth approximately $257,000. Frontier Investment Mgmt Co. acquired a new stake in shares of Duke Energy Corporation during the second quarter worth approximately $441,000. Finally, W. E. Donoghue & Co. LLC acquired a new stake in shares of Duke Energy Corporation during the second quarter worth approximately $15,548,000. Institutional investors and hedge funds own 56.22% of the company’s stock.
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About Duke Energy Corporation
Duke Energy Corporation (Duke Energy) is an energy company. The Company operates through three segments: Electric Utilities and Infrastructure; Gas Utilities and Infrastructure, and Commercial Renewables. The Company operates in the United States through its direct and indirect subsidiaries. The Electric Utilities and Infrastructure segment provides retail electric service through the generation, transmission, distribution and sale of electricity to approximately 7.5 million customers within the Southeast and Midwest regions of the United States.
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