SteelPeak Wealth LLC Takes Position in Duke Energy Co. (NYSE:DUK)

SteelPeak Wealth LLC purchased a new stake in shares of Duke Energy Co. (NYSE:DUK) during the 3rd quarter, Holdings Channel reports. The fund purchased 65,263 shares of the utilities provider’s stock, valued at approximately $7,525,000.

Several other large investors have also recently added to or reduced their stakes in DUK. Pathway Financial Advisers LLC raised its stake in Duke Energy by 11,471.4% during the third quarter. Pathway Financial Advisers LLC now owns 6,777,973 shares of the utilities provider’s stock worth $781,500,000 after acquiring an additional 6,719,398 shares in the last quarter. International Assets Investment Management LLC increased its position in Duke Energy by 13,829.1% in the third quarter. International Assets Investment Management LLC now owns 1,125,607 shares of the utilities provider’s stock worth $129,782,000 after purchasing an additional 1,117,526 shares during the period. Mackenzie Financial Corp grew its holdings in Duke Energy by 65.7% during the 2nd quarter. Mackenzie Financial Corp now owns 2,052,969 shares of the utilities provider’s stock worth $205,769,000 after acquiring an additional 813,744 shares during the period. Wulff Hansen & CO. increased its holdings in Duke Energy by 9,923.0% in the second quarter. Wulff Hansen & CO. now owns 769,265 shares of the utilities provider’s stock valued at $77,103,000 after purchasing an additional 761,590 shares during the last quarter. Finally, BROOKFIELD Corp ON bought a new position in shares of Duke Energy during the first quarter worth $36,278,000. Institutional investors and hedge funds own 65.31% of the company’s stock.

Insiders Place Their Bets

In other Duke Energy news, EVP Louis E. Renjel sold 540 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $113.64, for a total value of $61,365.60. Following the completion of the sale, the executive vice president now directly owns 19,884 shares of the company’s stock, valued at approximately $2,259,617.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

DUK has been the topic of a number of recent research reports. Scotiabank lifted their target price on Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Mizuho raised Duke Energy from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $116.00 to $121.00 in a report on Tuesday, October 15th. Evercore ISI upped their price objective on shares of Duke Energy from $108.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. KeyCorp cut shares of Duke Energy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 22nd. Finally, The Goldman Sachs Group raised their target price on Duke Energy from $102.00 to $113.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Duke Energy currently has an average rating of “Moderate Buy” and a consensus price target of $121.85.

Duke Energy Price Performance

Shares of DUK traded up $0.07 during trading hours on Wednesday, hitting $114.48. 700,522 shares of the stock were exchanged, compared to its average volume of 3,029,144. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.53 and a current ratio of 0.81. The stock’s 50-day moving average price is $115.74 and its two-hundred day moving average price is $107.92. Duke Energy Co. has a 12-month low of $86.61 and a 12-month high of $121.25. The company has a market cap of $88.40 billion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 3.27 and a beta of 0.46.

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

Duke Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $1.045 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.65%. Duke Energy’s payout ratio is currently 76.98%.

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.