Seven Eight Capital LP Acquires New Shares in Duke Energy Co. (NYSE:DUK)

Seven Eight Capital LP acquired a new stake in shares of Duke Energy Co. (NYSE:DUK) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,952 shares of the utilities provider’s stock, valued at approximately $1,153,000.

A number of other institutional investors have also recently bought and sold shares of DUK. Northwest Investment Counselors LLC boosted its position in Duke Energy by 174.2% during the first quarter. Northwest Investment Counselors LLC now owns 266 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 169 shares during the last quarter. Fairfield Bush & CO. acquired a new stake in Duke Energy during the first quarter valued at $40,000. Compass Wealth Management LLC acquired a new stake in shares of Duke Energy in the fourth quarter worth about $41,000. Heritage Wealth Management LLC lifted its position in shares of Duke Energy by 166.7% in the fourth quarter. Heritage Wealth Management LLC now owns 504 shares of the utilities provider’s stock worth $52,000 after buying an additional 315 shares during the last quarter. Finally, Cascade Investment Advisors Inc. acquired a new stake in shares of Duke Energy in the first quarter worth about $52,000. Institutional investors and hedge funds own 63.68% of the company’s stock.

Duke Energy Trading Up 1.8 %

Shares of DUK opened at $91.02 on Friday. Duke Energy Co. has a 12-month low of $83.76 and a 12-month high of $111.26. The company has a quick ratio of 0.52, a current ratio of 0.75 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $70.15 billion, a price-to-earnings ratio of 50.85, a P/E/G ratio of 2.62 and a beta of 0.43. The stock’s 50-day moving average price is $91.30 and its 200 day moving average price is $93.42.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.07). Duke Energy had a net margin of 5.06% and a return on equity of 8.05%. The firm had revenue of $6.58 billion for the quarter, compared to the consensus estimate of $6.16 billion. During the same quarter in the prior year, the firm earned $1.14 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. As a group, research analysts predict that Duke Energy Co. will post 5.61 earnings per share for the current year.

Duke Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, August 18th will be issued a dividend of $1.025 per share. This represents a $4.10 dividend on an annualized basis and a yield of 4.50%. This is an increase from Duke Energy’s previous quarterly dividend of $1.01. The ex-dividend date is Thursday, August 17th. Duke Energy’s payout ratio is presently 229.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DUK. Morgan Stanley reduced their price target on Duke Energy from $102.00 to $95.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 23rd. Bank of America reduced their price target on Duke Energy from $112.00 to $110.00 in a research report on Sunday, June 11th. Royal Bank of Canada reduced their price target on Duke Energy from $104.00 to $101.00 and set a “sector perform” rating for the company in a research report on Wednesday. Guggenheim dropped their price objective on Duke Energy from $114.00 to $102.00 in a research note on Friday, July 7th. Finally, The Goldman Sachs Group initiated coverage on Duke Energy in a research note on Wednesday, June 7th. They issued a “neutral” rating and a $99.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $99.83.

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