Welch & Forbes LLC Has $7.07 Million Stake in Duke Energy Co. (NYSE:DUK)

Posted by on Jun 26th, 2023

Welch & Forbes LLC reduced its position in shares of Duke Energy Co. (NYSE:DUK – Get Rating) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,275 shares of the utilities provider’s stock after selling 984 shares during the period. Welch & Forbes LLC’s holdings in Duke Energy were worth $7,069,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew 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 acquiring an additional 1,035,303 shares in the last quarter. BlackRock Inc. increased its stake in Duke Energy by 2.1% in the 3rd 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 during the last quarter. State Street Corp boosted its stake in shares of Duke Energy by 1.8% during the 3rd quarter. State Street Corp now owns 45,155,130 shares of the utilities provider’s stock worth $4,200,330,000 after buying an additional 816,427 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Duke Energy by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 14,454,783 shares of the utilities provider’s stock valued at $1,485,765,000 after acquiring an additional 243,312 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Duke Energy by 11.5% in the fourth quarter. Morgan Stanley now owns 10,018,171 shares of the utilities provider’s stock valued at $1,031,772,000 after acquiring an additional 1,037,012 shares during the last quarter. 63.13% of the stock is currently owned by institutional investors.

Duke Energy Trading Down 1.3 %

Shares of Duke Energy stock opened at $89.72 on Monday. Duke Energy Co. has a 52-week low of $83.76 and a 52-week high of $113.67. The stock has a market cap of $69.14 billion, a PE ratio of 27.61, a PEG ratio of 2.61 and a beta of 0.43. The firm has a 50-day moving average of $93.98 and a 200-day moving average of $97.55. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.53 and a current ratio of 0.77.

Duke Energy (NYSE:DUK – Get Rating) last announced its earnings results on Tuesday, May 9th. The utilities provider reported $1.20 EPS for the quarter, missing the consensus estimate of $1.40 by ($0.20). Duke Energy had a return on equity of 8.39% and a net margin of 8.89%. The business had revenue of $7.28 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the prior year, the business posted $1.30 earnings per share. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Duke Energy Co. will post 5.61 EPS for the current year.

Duke Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Friday, May 12th were paid a dividend of $1.005 per share. The ex-dividend date was Thursday, May 11th. This represents a $4.02 dividend on an annualized basis and a yield of 4.48%. Duke Energy’s payout ratio is 123.69%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on DUK shares. StockNews.com began coverage on Duke Energy in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Mizuho cut their price target on shares of Duke Energy from $107.00 to $92.00 in a research note on Tuesday, June 13th. BMO Capital Markets lowered their price objective on shares of Duke Energy from $109.00 to $102.00 in a research note on Tuesday, June 13th. Seaport Res Ptn upgraded shares of Duke Energy from a “sell” rating to a “neutral” rating in a research note on Friday, March 17th. Finally, The Goldman Sachs Group assumed coverage on Duke Energy in a report on Wednesday, June 7th. They set a “neutral” rating and a $99.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $103.38.

Duke Energy Company Profile

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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; and uses coal, hydroelectric, natural gas, oil, solar and wind sources, renewables, and nuclear fuel to generate electricity.

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Institutional Ownership by Quarter for Duke Energy (NYSE:DUK)

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