Geode Capital Management LLC Has $2.21 Billion Stake in Duke Energy Corporation $DUK

Geode Capital Management LLC raised its position in shares of Duke Energy Corporation (NYSE:DUK) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,684,447 shares of the utilities provider’s stock after purchasing an additional 319,001 shares during the quarter. Geode Capital Management LLC owned 2.40% of Duke Energy worth $2,205,070,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. United Asset Strategies Inc. lifted its stake in Duke Energy by 4,166.7% in the 2nd quarter. United Asset Strategies Inc. now owns 105,602 shares of the utilities provider’s stock worth $12,461,000 after acquiring an additional 103,127 shares in the last quarter. Wealth Alliance LLC lifted its position in shares of Duke Energy by 4.0% in the second quarter. Wealth Alliance LLC now owns 18,326 shares of the utilities provider’s stock worth $2,163,000 after purchasing an additional 703 shares in the last quarter. KBC Group NV boosted its holdings in shares of Duke Energy by 1.8% during the second quarter. KBC Group NV now owns 60,663 shares of the utilities provider’s stock worth $7,158,000 after purchasing an additional 1,057 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in Duke Energy by 21.1% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,726,823 shares of the utilities provider’s stock valued at $321,765,000 after purchasing an additional 474,325 shares in the last quarter. Finally, Wealth Quarterback LLC lifted its position in Duke Energy by 5.6% in the 2nd quarter. Wealth Quarterback LLC now owns 2,587 shares of the utilities provider’s stock worth $305,000 after buying an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Up 0.7%

Duke Energy stock opened at $123.74 on Wednesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.66 and a quick ratio of 0.42. Duke Energy Corporation has a fifty-two week low of $105.20 and a fifty-two week high of $130.03. The firm has a fifty day moving average price of $124.02 and a two-hundred day moving average price of $120.87. The firm has a market cap of $96.22 billion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 3.05 and a beta of 0.45.

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

Duke Energy Announces Dividend

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

Insider Transactions at Duke Energy

In related news, SVP Bonnie B. Titone sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total transaction of $248,760.00. Following the completion of the transaction, the senior vice president directly owned 19,608 shares in the company, valued at $2,438,843.04. This represents a 9.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DUK shares. Evercore ISI began coverage on shares of Duke Energy in a research note on Monday, October 6th. They issued an “outperform” rating and a $143.00 price target on the stock. JPMorgan Chase & Co. raised their price target on Duke Energy from $131.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Morgan Stanley increased their price objective on Duke Energy from $127.00 to $136.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Cowen assumed coverage on shares of Duke Energy in a research report on Wednesday, October 15th. They issued a “buy” rating for the company. Finally, TD Cowen began coverage on shares of Duke Energy in a research note on Thursday, October 16th. They issued a “buy” rating and a $143.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.00.

Duke Energy 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.