Reaves W H & Co. Inc. Boosts Stake in Duke Energy Corporation $DUK

Reaves W H & Co. Inc. grew its stake in shares of Duke Energy Corporation (NYSE:DUK) by 1,118.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 99,459 shares of the utilities provider’s stock after buying an additional 91,295 shares during the period. Reaves W H & Co. Inc.’s holdings in Duke Energy were worth $12,308,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in DUK. Wesbanco Bank Inc. increased its position in Duke Energy by 87.4% during the 3rd quarter. Wesbanco Bank Inc. now owns 161,523 shares of the utilities provider’s stock worth $19,989,000 after purchasing an additional 75,311 shares in the last quarter. Midwest Trust Co boosted its stake in shares of Duke Energy by 0.6% during the 3rd quarter. Midwest Trust Co now owns 129,688 shares of the utilities provider’s stock worth $16,049,000 after purchasing an additional 830 shares during the last quarter. First National Trust Co grew its holdings in shares of Duke Energy by 5.5% during the third quarter. First National Trust Co now owns 16,283 shares of the utilities provider’s stock worth $2,015,000 after buying an additional 847 shares in the last quarter. Wealthfront Advisers LLC raised its position in shares of Duke Energy by 10.2% in the third quarter. Wealthfront Advisers LLC now owns 138,315 shares of the utilities provider’s stock valued at $17,116,000 after buying an additional 12,767 shares during the last quarter. Finally, Edgemoor Investment Advisors Inc. purchased a new position in shares of Duke Energy during the third quarter valued at approximately $263,000. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Duke Energy

In related news, EVP Robert Alexander Glenn sold 8,200 shares of Duke Energy stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $123.80, for a total transaction of $1,015,160.00. Following the transaction, the executive vice president owned 11,367 shares in the company, valued at approximately $1,407,234.60. The trade was a 41.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.

Duke Energy Stock Performance

Duke Energy stock opened at $121.77 on Tuesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.63 and a quick ratio of 0.40. Duke Energy Corporation has a 12 month low of $110.51 and a 12 month high of $130.03. The company has a market cap of $94.70 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 2.65 and a beta of 0.51. The stock’s 50-day moving average is $118.06 and its 200-day moving average is $121.64.

Duke Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 13th will be given a $1.065 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $4.26 annualized dividend and a dividend yield of 3.5%. Duke Energy’s dividend payout ratio is presently 66.98%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on DUK shares. BMO Capital Markets boosted their price target on Duke Energy from $130.00 to $132.00 and gave the company an “outperform” rating in a report on Tuesday, January 27th. Barclays lowered their price objective on Duke Energy from $135.00 to $127.00 and set an “overweight” rating for the company in a research report on Thursday, January 15th. Scotiabank increased their target price on Duke Energy from $137.00 to $146.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, December 16th. The Goldman Sachs Group raised their price target on Duke Energy from $138.00 to $141.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Finally, Jefferies Financial Group dropped their price objective on shares of Duke Energy from $126.00 to $125.00 and set a “hold” rating for the company in a research note on Wednesday, January 14th. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $134.50.

Duke Energy Company Profile

Duke Energy Corporation is a U.S.-based electric power holding company headquartered in Charlotte, North Carolina. The company’s core business is the generation, transmission and distribution of electricity to residential, commercial and industrial customers. Duke Energy operates a mix of regulated electric utilities and non-regulated energy businesses, providing essential energy infrastructure and services across multiple states.

Its operating activities include owning and operating generation assets across a portfolio that encompasses nuclear, natural gas, coal, hydroelectric and an expanding array of renewable resources, as well as battery storage and grid modernization projects.