Geode Capital Management LLC Increases Stake in Duke Energy Co. (NYSE:DUK)

Geode Capital Management LLC lifted its stake in Duke Energy Co. (NYSE:DUK) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,488,176 shares of the utilities provider’s stock after purchasing an additional 442,302 shares during the quarter. Geode Capital Management LLC’s holdings in Duke Energy were worth $2,016,846,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in shares of Duke Energy in the 3rd quarter valued at approximately $29,000. Northwest Investment Counselors LLC purchased a new stake in shares of Duke Energy in the 3rd quarter valued at $30,000. Sachetta LLC raised its holdings in shares of Duke Energy by 41.9% during the second quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 96 shares during the last quarter. Reston Wealth Management LLC acquired a new position in Duke Energy during the third quarter valued at $38,000. Finally, Catalyst Capital Advisors LLC boosted its holdings in Duke Energy by 100.0% in the third quarter. Catalyst Capital Advisors LLC now owns 334 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 167 shares during the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Stock Performance

DUK opened at $111.14 on Wednesday. The company has a quick ratio of 0.45, a current ratio of 0.70 and a debt-to-equity ratio of 1.55. The company has a market cap of $85.85 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 2.97 and a beta of 0.47. Duke Energy Co. has a 52-week low of $90.09 and a 52-week high of $121.25. The firm’s fifty day simple moving average is $114.86 and its two-hundred day simple moving average is $110.71.

Duke Energy (NYSE:DUK) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.11). The firm had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.94 EPS. Equities analysts anticipate that Duke Energy Co. will post 5.95 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date is Friday, November 15th. Duke Energy’s dividend payout ratio is presently 76.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DUK shares. KeyCorp cut Duke Energy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 22nd. BMO Capital Markets upped their price objective on Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Scotiabank lifted their target price on shares of Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Jefferies Financial Group started coverage on shares of Duke Energy in a report on Thursday, September 19th. They set a “buy” rating and a $138.00 price target on the stock. Finally, Barclays lifted their price objective on shares of Duke Energy from $102.00 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $121.69.

About Duke Energy

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.