Duke Energy Co. (NYSE:DUK) Shares Purchased by Arkadios Wealth Advisors

Posted by Defense World Staff on Mar 20th, 2023

Arkadios Wealth Advisors lifted its position in Duke Energy Co. (NYSE:DUK – Get Rating) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,164 shares of the utilities provider’s stock after purchasing an additional 342 shares during the period. Arkadios Wealth Advisors’ holdings in Duke Energy were worth $635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Duke Energy by 541.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 7,566,436 shares of the utilities provider’s stock worth $811,198,000 after acquiring an additional 6,387,550 shares in the last quarter. State Street Corp grew its holdings in Duke Energy by 3.8% in the second quarter. State Street Corp now owns 44,338,703 shares of the utilities provider’s stock valued at $4,753,552,000 after purchasing an additional 1,623,646 shares during the period. BlackRock Inc. increased its position in shares of Duke Energy by 2.1% in the third quarter. BlackRock Inc. now owns 54,910,595 shares of the utilities provider’s stock valued at $5,107,783,000 after buying an additional 1,109,394 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Duke Energy by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 70,549,902 shares of the utilities provider’s stock worth $6,562,551,000 after buying an additional 1,035,303 shares during the period. Finally, Neuberger Berman Group LLC lifted its position in shares of Duke Energy by 41.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,875,520 shares of the utilities provider’s stock valued at $267,696,000 after buying an additional 849,278 shares in the last quarter. 63.22% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Price Performance

Shares of DUK stock opened at $96.39 on Monday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.70 and a quick ratio of 0.51. The company has a market capitalization of $74.23 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 3.15 and a beta of 0.42. The firm’s 50-day moving average is $99.26 and its two-hundred day moving average is $98.89. Duke Energy Co. has a 12 month low of $83.76 and a 12 month high of $116.33.

Duke Energy (NYSE:DUK – Get Rating) last released its quarterly earnings results on Thursday, February 9th. The utilities provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.06 by $0.05. Duke Energy had a net margin of 9.11% and a return on equity of 8.45%. The firm had revenue of $7.35 billion for the quarter, compared to analyst estimates of $5.27 billion. During the same quarter in the previous year, the company earned $0.94 EPS. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. Analysts predict that Duke Energy Co. will post 5.63 earnings per share for the current year.

Duke Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 16th. Shareholders of record on Friday, February 17th were given a $1.005 dividend. The ex-dividend date of this dividend was Thursday, February 16th. This represents a $4.02 dividend on an annualized basis and a yield of 4.17%. Duke Energy’s payout ratio is currently 121.08%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DUK. Royal Bank of Canada reduced their price objective on shares of Duke Energy from $116.00 to $112.00 and set a “sector perform” rating for the company in a research report on Thursday, February 16th. Morgan Stanley decreased their price target on shares of Duke Energy from $108.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 22nd. Seaport Res Ptn upgraded Duke Energy from a “sell” rating to a “neutral” rating in a research note on Friday. Wells Fargo & Company lowered their price target on Duke Energy from $111.00 to $103.00 and set an “equal weight” rating on the stock in a research note on Friday, February 10th. Finally, Mizuho increased their price objective on Duke Energy from $100.00 to $102.00 and gave the company a “neutral” rating in a research note on Friday, December 9th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Duke Energy presently has an average rating of “Hold” and an average price target of $106.64.

Insiders Place Their Bets

In related news, SVP Louis E. Renjel sold 1,900 shares of the stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $99.90, for a total transaction of $189,810.00. Following the completion of the transaction, the senior vice president now owns 9,967 shares of the company’s stock, valued at approximately $995,703.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is currently owned by insiders.

Duke Energy Profile

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Duke Energy Corp. engages in the distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure, Gas Utilities & Infrastructure and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations in regulated electric utilities in the Carolinas, Florida and the Midwest.