V. M. Manning & CO. Inc. Buys Shares of 19,394 Duke Energy Corporation $DUK

V. M. Manning & CO. Inc. purchased a new position in Duke Energy Corporation (NYSE:DUK) during the second quarter, Holdings Channel reports. The institutional investor purchased 19,394 shares of the utilities provider’s stock, valued at approximately $2,376,000. Duke Energy accounts for 2.7% of V. M. Manning & CO. Inc.’s investment portfolio, making the stock its 4th largest position.

Several other large investors also recently modified their holdings of the company. Activest Wealth Management lifted its holdings in Duke Energy by 98.1% in the first quarter. Activest Wealth Management now owns 212 shares of the utilities provider’s stock valued at $26,000 after buying an additional 105 shares during the period. Legacy Investment Solutions LLC acquired a new stake in Duke Energy during the 2nd quarter worth about $28,000. Mascoma Wealth Management LLC raised its position in shares of Duke Energy by 53.7% in the 2nd quarter. Mascoma Wealth Management LLC now owns 249 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 87 shares in the last quarter. Access Investment Management LLC acquired a new position in shares of Duke Energy in the 2nd quarter valued at about $31,000. Finally, Saudi Central Bank bought a new stake in shares of Duke Energy during the 1st quarter valued at about $37,000. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Price Performance

Shares of NYSE:DUK opened at $115.21 on Monday. Duke Energy Corporation has a twelve month low of $105.20 and a twelve month high of $130.03. The stock’s 50 day moving average is $123.37 and its 200-day moving average is $121.23. The company has a quick ratio of 0.40, a current ratio of 0.63 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $89.60 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 2.66 and a beta of 0.49.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.06. The business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.51 billion. Duke Energy had a net margin of 15.76% and a return on equity of 9.98%. Duke Energy’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.62 EPS. Sell-side analysts forecast that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be given a dividend of $1.065 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $4.26 annualized dividend and a dividend yield of 3.7%. Duke Energy’s payout ratio is presently 66.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DUK. TD Cowen started coverage on Duke Energy in a report on Thursday, October 16th. They issued a “buy” rating and a $143.00 target price for the company. Evercore ISI started coverage on shares of Duke Energy in a research report on Monday, October 6th. They set an “outperform” rating and a $143.00 price objective for the company. Wells Fargo & Company upgraded shares of Duke Energy to a “hold” rating in a research note on Tuesday, October 28th. Mizuho increased their target price on shares of Duke Energy from $132.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Finally, The Goldman Sachs Group raised their price target on shares of Duke Energy from $138.00 to $141.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $137.06.

Insider Buying and Selling at Duke Energy

In related news, EVP Robert Alexander Glenn sold 8,200 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $123.80, for a total value of $1,015,160.00. Following the transaction, the executive vice president owned 11,367 shares of the company’s stock, valued at approximately $1,407,234.60. This trade represents a 41.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by corporate insiders.

Duke Energy Company Profile

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.