Traders Buy Duke Energy (DUK) on Weakness

Traders bought shares of Duke Energy Corp (NYSE:DUK) on weakness during trading on Thursday. $117.06 million flowed into the stock on the tick-up and $93.92 million flowed out of the stock on the tick-down, for a money net flow of $23.14 million into the stock. Of all companies tracked, Duke Energy had the 22nd highest net in-flow for the day. Duke Energy traded down ($0.97) for the day and closed at $81.66

DUK has been the topic of a number of research reports. Barclays initiated coverage on shares of Duke Energy in a research note on Tuesday, July 10th. They issued an “equal weight” rating and a $86.00 target price on the stock. Zacks Investment Research lowered shares of Duke Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. Morgan Stanley raised their target price on shares of Duke Energy from $79.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Monday, July 16th. Citigroup raised shares of Duke Energy from a “sell” rating to a “neutral” rating and set a $77.00 target price on the stock in a research note on Friday, July 20th. Finally, JPMorgan Chase & Co. raised shares of Duke Energy from an “underweight” rating to a “neutral” rating and set a $72.00 target price on the stock in a research note on Monday, July 23rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Duke Energy presently has an average rating of “Hold” and a consensus price target of $84.06.

The stock has a market cap of $59.72 billion, a P/E ratio of 17.87, a P/E/G ratio of 3.54 and a beta of 0.03. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.41 and a current ratio of 0.66.

Duke Energy (NYSE:DUK) last released its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.08). The firm had revenue of $5.64 billion for the quarter, compared to analysts’ expectations of $5.61 billion. Duke Energy had a net margin of 11.52% and a return on equity of 7.92%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 EPS. As a group, analysts predict that Duke Energy Corp will post 4.7 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 16th will be given a dividend of $0.9275 per share. This represents a $3.71 annualized dividend and a dividend yield of 4.54%. The ex-dividend date is Thursday, November 15th. Duke Energy’s payout ratio is presently 81.18%.

In other news, EVP Melissa H. Anderson sold 500 shares of Duke Energy stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $81.76, for a total transaction of $40,880.00. Following the sale, the executive vice president now owns 15,096 shares of the company’s stock, valued at approximately $1,234,248.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Dhiaa M. Jamil sold 7,000 shares of Duke Energy stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $80.98, for a total transaction of $566,860.00. Following the sale, the chief operating officer now directly owns 4,279 shares in the company, valued at approximately $346,513.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,779 shares of company stock worth $956,650. Corporate insiders own 0.07% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in DUK. Boothe Investment Group Inc. acquired a new position in shares of Duke Energy in the second quarter worth $420,000. Cornerstone Capital Inc. grew its stake in shares of Duke Energy by 6.2% in the second quarter. Cornerstone Capital Inc. now owns 58,289 shares of the utilities provider’s stock worth $4,609,000 after acquiring an additional 3,395 shares in the last quarter. Millennium Management LLC grew its stake in shares of Duke Energy by 23.2% in the second quarter. Millennium Management LLC now owns 1,740,617 shares of the utilities provider’s stock worth $137,648,000 after acquiring an additional 328,285 shares in the last quarter. Community Bank & Trust Waco Texas grew its stake in shares of Duke Energy by 59.0% in the second quarter. Community Bank & Trust Waco Texas now owns 7,400 shares of the utilities provider’s stock worth $585,000 after acquiring an additional 2,745 shares in the last quarter. Finally, American Research & Management Co. acquired a new position in shares of Duke Energy in the second quarter worth $1,158,000. 58.83% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Company Profile (NYSE:DUK)

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; uses coal, hydroelectric, natural gas, oil, renewable sources, and nuclear fuel to generate electricity; and engages in the wholesale of electricity to municipalities, electric cooperative utilities, and other load-serving entities.

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