Geode Capital Management LLC Acquires 319,001 Shares of Duke Energy Corporation $DUK

Geode Capital Management LLC lifted its holdings in shares of Duke Energy Corporation (NYSE:DUK) by 1.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 18,684,447 shares of the utilities provider’s stock after acquiring an additional 319,001 shares during the period. Geode Capital Management LLC’s holdings in Duke Energy were worth $2,205,070,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. GQG Partners LLC raised its stake in Duke Energy by 17,880.0% during the first quarter. GQG Partners LLC now owns 10,249,508 shares of the utilities provider’s stock worth $1,250,133,000 after acquiring an additional 10,192,503 shares in the last quarter. Nuveen LLC acquired a new position in Duke Energy during the 1st quarter worth about $702,351,000. Raymond James Financial Inc. increased its holdings in shares of Duke Energy by 88.1% in the first quarter. Raymond James Financial Inc. now owns 4,861,309 shares of the utilities provider’s stock valued at $592,934,000 after purchasing an additional 2,276,948 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Duke Energy by 2.3% during the first quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider’s stock worth $9,094,327,000 after acquiring an additional 1,676,061 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of Duke Energy by 359.1% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,132,613 shares of the utilities provider’s stock valued at $138,145,000 after purchasing an additional 885,900 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Trading Up 0.7%

Shares of DUK stock opened at $123.74 on Wednesday. Duke Energy Corporation has a 12-month low of $105.20 and a 12-month high of $130.03. The firm has a 50 day moving average price of $124.02 and a two-hundred day moving average price of $120.87. The company has a quick ratio of 0.42, a current ratio of 0.66 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $96.22 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 3.05 and a beta of 0.45.

Duke Energy (NYSE:DUK) last issued its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. The firm had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.51 billion. Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.62 EPS. As a group, analysts predict that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be given a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Friday, November 14th. Duke Energy’s payout ratio is presently 66.98%.

Insider Activity

In related news, SVP Bonnie B. Titone sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $124.38, for a total transaction of $248,760.00. Following the sale, the senior vice president owned 19,608 shares of the company’s stock, valued at $2,438,843.04. This represents a 9.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on DUK shares. Jefferies Financial Group lifted their price objective on shares of Duke Energy from $134.00 to $138.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. TD Cowen assumed coverage on shares of Duke Energy in a research report on Thursday, October 16th. They set a “buy” rating and a $143.00 price target on the stock. Barclays upped their target price on Duke Energy from $131.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Mizuho boosted their price target on Duke Energy from $132.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Finally, Scotiabank set a $137.00 target price on shares of Duke Energy and gave the stock a “sector outperform” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $138.00.

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.