Investors Buy Shares of Duke Energy (DUK) on Weakness
Investors purchased shares of Duke Energy Corp (NYSE:DUK) on weakness during trading hours on Thursday. $210.21 million flowed into the stock on the tick-up and $50.89 million flowed out of the stock on the tick-down, for a money net flow of $159.32 million into the stock. Of all companies tracked, Duke Energy had the 7th highest net in-flow for the day. Duke Energy traded down ($0.22) for the day and closed at $89.83
Several research firms recently weighed in on DUK. ValuEngine upgraded shares of Duke Energy from a “hold” rating to a “buy” rating in a report on Wednesday, November 21st. Wells Fargo & Co reduced their target price on shares of Duke Energy from $89.00 to $88.00 and set a “market perform” rating on the stock in a report on Monday, November 5th. Barclays lifted their target price on shares of Duke Energy from $86.00 to $88.00 and gave the company a “hold” rating in a report on Monday, November 19th. Zacks Investment Research lowered shares of Duke Energy from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Finally, Guggenheim restated a “buy” rating and set a $86.00 target price on shares of Duke Energy in a report on Friday, August 17th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $84.13.
The company has a current ratio of 0.68, a quick ratio of 0.46 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $64.04 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 3.77 and a beta of -0.03.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 16th will be issued a $0.9275 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $3.71 dividend on an annualized basis and a yield of 4.12%. Duke Energy’s dividend payout ratio is currently 81.18%.
Hedge funds have recently modified their holdings of the business. Boothe Investment Group Inc. acquired a new position in Duke Energy in the 2nd quarter worth $420,000. Cornerstone Capital Inc. increased its position in shares of Duke Energy by 6.2% in the 2nd quarter. Cornerstone Capital Inc. now owns 58,289 shares of the utilities provider’s stock worth $4,609,000 after purchasing an additional 3,395 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Duke Energy by 69.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 214,894 shares of the utilities provider’s stock worth $16,994,000 after purchasing an additional 87,950 shares during the last quarter. Millennium Management LLC increased its position in shares of Duke Energy by 23.2% in the 2nd quarter. Millennium Management LLC now owns 1,740,617 shares of the utilities provider’s stock worth $137,648,000 after purchasing an additional 328,285 shares during the last quarter. Finally, ProVise Management Group LLC increased its position in shares of Duke Energy by 1,333.8% in the 2nd quarter. ProVise Management Group LLC now owns 37,050 shares of the utilities provider’s stock worth $2,930,000 after purchasing an additional 34,466 shares during the last quarter. Hedge funds and other institutional investors own 59.65% of the company’s stock.
About Duke Energy (NYSE:DUK)
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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