Truvestments Capital LLC Raises Stock Position in Duke Energy Co. (NYSE:DUK)

Truvestments Capital LLC boosted its stake in Duke Energy Co. (NYSE:DUK) by 14.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,683 shares of the utilities provider’s stock after purchasing an additional 344 shares during the period. Truvestments Capital LLC’s holdings in Duke Energy were worth $309,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in DUK. DRW Securities LLC boosted its position in shares of Duke Energy by 2,604.9% in the third quarter. DRW Securities LLC now owns 104,870 shares of the utilities provider’s stock worth $12,092,000 after buying an additional 100,993 shares during the period. Independent Advisor Alliance grew its position in Duke Energy by 0.9% in the third quarter. Independent Advisor Alliance now owns 117,798 shares of the utilities provider’s stock valued at $13,582,000 after acquiring an additional 1,024 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in Duke Energy by 1,258.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 49,341 shares of the utilities provider’s stock valued at $5,689,000 after purchasing an additional 45,708 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Duke Energy by 32.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 111,429 shares of the utilities provider’s stock worth $12,848,000 after buying an additional 27,462 shares in the last quarter. Finally, Summit Trail Advisors LLC lifted its stake in shares of Duke Energy by 9.5% in the third quarter. Summit Trail Advisors LLC now owns 8,329 shares of the utilities provider’s stock worth $960,000 after acquiring an additional 723 shares in the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Duke Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Barclays upped their target price on shares of Duke Energy from $102.00 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. BMO Capital Markets lifted their price target on Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. Scotiabank upped their price objective on Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Evercore ISI boosted their price target on Duke Energy from $108.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $121.69.

Duke Energy Stock Performance

DUK stock opened at $115.00 on Tuesday. The stock’s fifty day moving average is $115.08 and its two-hundred day moving average is $109.88. The stock has a market capitalization of $88.84 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 3.02 and a beta of 0.47. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.45 and a current ratio of 0.70. Duke Energy Co. has a 1 year low of $90.09 and a 1 year high of $121.25.

Duke Energy (NYSE:DUK) last posted its earnings results on Thursday, November 7th. The utilities provider reported $1.62 EPS 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 the consensus estimate of $8.06 billion. Duke Energy had a return on equity of 9.34% and a net margin of 14.31%. Duke Energy’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $1.94 EPS. On average, research analysts predict that Duke Energy Co. will post 5.97 EPS for the current year.

Duke Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s payout ratio is currently 76.84%.

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.