Trust Co. of Vermont Makes New Investment in Duke Energy Corporation $DUK

Trust Co. of Vermont acquired a new position in shares of Duke Energy Corporation (NYSE:DUK) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 14,323 shares of the utilities provider’s stock, valued at approximately $1,813,000.

A number of other large investors have also modified their holdings of the company. Old West Investment Management LLC bought a new stake in Duke Energy in the 2nd quarter valued at $211,000. Bank of New York Mellon Corp bought a new position in shares of Duke Energy during the 2nd quarter worth about $605,680,000. Merit Financial Group LLC boosted its position in shares of Duke Energy by 15.7% during the 2nd quarter. Merit Financial Group LLC now owns 70,388 shares of the utilities provider’s stock valued at $8,910,000 after acquiring an additional 9,562 shares in the last quarter. Intergy Private Wealth LLC increased its stake in Duke Energy by 16.1% in the second quarter. Intergy Private Wealth LLC now owns 2,858 shares of the utilities provider’s stock valued at $362,000 after acquiring an additional 396 shares during the period. Finally, Diversified Trust Co. increased its stake in Duke Energy by 3.8% in the second quarter. Diversified Trust Co. now owns 12,644 shares of the utilities provider’s stock valued at $1,601,000 after acquiring an additional 462 shares during the period. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Trading Down 0.3%

Shares of DUK stock opened at $123.61 on Tuesday. The company has a market capitalization of $96.38 billion, a P/E ratio of 18.56, a P/E/G ratio of 2.73 and a beta of 0.38. Duke Energy Corporation has a 12-month low of $113.89 and a 12-month high of $134.49. The company has a quick ratio of 0.43, a current ratio of 0.66 and a debt-to-equity ratio of 1.47. The firm has a 50-day moving average price of $125.80 and a 200 day moving average price of $126.61.

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, topping the consensus estimate of $1.30 by $0.13. The firm had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.66 billion. Duke Energy had a net margin of 15.78% and a return on equity of 9.78%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. Research analysts forecast that Duke Energy Corporation will post 6.72 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be given a dividend of $1.085 per share. This is a boost from Duke Energy’s previous quarterly dividend of $1.06. The ex-dividend date is Friday, August 14th. This represents a $4.34 dividend on an annualized basis and a yield of 3.5%. Duke Energy’s dividend payout ratio is currently 65.17%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Truist Financial cut their price target on shares of Duke Energy from $138.00 to $135.00 and set a “buy” rating for the company in a research note on Monday. Jefferies Financial Group lowered their price objective on Duke Energy from $143.00 to $138.00 in a research note on Monday, May 11th. Morgan Stanley set a $138.00 target price on Duke Energy in a research report on Wednesday, July 22nd. BMO Capital Markets decreased their price target on Duke Energy from $134.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 5th. Finally, BTIG Research reiterated a “buy” rating on shares of Duke Energy in a research report on Thursday, July 23rd. Ten analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $138.25.

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.