Parcion Private Wealth LLC Increases Stock Holdings in Duke Energy Co. (NYSE:DUK)

Parcion Private Wealth LLC lifted its stake in shares of Duke Energy Co. (NYSE:DUK) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,752 shares of the utilities provider’s stock after buying an additional 584 shares during the period. Parcion Private Wealth LLC’s holdings in Duke Energy were worth $1,479,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DUK. Assenagon Asset Management S.A. boosted its position in Duke Energy by 4,163.9% in the first quarter. Assenagon Asset Management S.A. now owns 882,552 shares of the utilities provider’s stock worth $85,352,000 after purchasing an additional 861,854 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Duke Energy by 4.8% in the fourth quarter. Capital Research Global Investors now owns 11,141,020 shares of the utilities provider’s stock valued at $1,081,125,000 after buying an additional 509,039 shares during the period. Cbre Investment Management Listed Real Assets LLC bought a new stake in shares of Duke Energy in the fourth quarter valued at $41,874,000. Morningstar Investment Services LLC raised its stake in shares of Duke Energy by 96.1% in the fourth quarter. Morningstar Investment Services LLC now owns 789,612 shares of the utilities provider’s stock valued at $76,529,000 after buying an additional 387,038 shares during the period. Finally, BROOKFIELD Corp ON bought a new stake in shares of Duke Energy in the first quarter valued at $36,278,000. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Performance

NYSE DUK traded down $0.25 on Friday, hitting $116.60. 3,482,508 shares of the company traded hands, compared to its average volume of 2,953,683. The company has a market capitalization of $89.99 billion, a price-to-earnings ratio of 29.30, a P/E/G ratio of 3.13 and a beta of 0.47. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.56. The business’s 50 day moving average price is $109.51 and its 200-day moving average price is $102.10. Duke Energy Co. has a 52-week low of $83.06 and a 52-week high of $118.11.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. The business had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $6.84 billion. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $0.91 earnings per share. Equities analysts expect that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be issued a $1.045 dividend. This represents a $4.18 annualized dividend and a dividend yield of 3.58%. This is a boost from Duke Energy’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Friday, August 16th. Duke Energy’s payout ratio is 105.03%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. KeyCorp boosted their price objective on Duke Energy from $114.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Bank of America upped their target price on Duke Energy from $116.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Evercore ISI upped their target price on Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Wells Fargo & Company upped their target price on Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, BMO Capital Markets upped their target price on Duke Energy from $114.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $113.92.

Insider Transactions at Duke Energy

In related news, EVP Louis E. Renjel sold 540 shares of Duke Energy stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $113.64, for a total value of $61,365.60. Following the completion of the transaction, the executive vice president now owns 19,884 shares in the company, valued at $2,259,617.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.10% of the company’s stock.

Duke Energy 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.