Providence Capital Advisors LLC Increases Holdings in Duke Energy Co. (NYSE:DUK)

Providence Capital Advisors LLC increased its stake in shares of Duke Energy Co. (NYSE:DUK) by 0.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 37,745 shares of the utilities provider’s stock after buying an additional 293 shares during the quarter. Providence Capital Advisors LLC’s holdings in Duke Energy were worth $4,352,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC raised its position in shares of Duke Energy by 69.6% during the 2nd quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 119 shares during the last quarter. Olistico Wealth LLC acquired a new position in shares of Duke Energy during the 2nd quarter worth approximately $30,000. Northwest Investment Counselors LLC acquired a new position in shares of Duke Energy during the 3rd quarter worth approximately $30,000. Sachetta LLC raised its position in shares of Duke Energy by 41.9% during the 2nd quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 96 shares during the last quarter. Finally, Reston Wealth Management LLC acquired a new position in shares of Duke Energy during the 3rd quarter worth approximately $38,000. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Trading Up 0.3 %

DUK stock opened at $117.41 on Thursday. The company has a market cap of $90.70 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 3.03 and a beta of 0.47. The company has a quick ratio of 0.45, a current ratio of 0.70 and a debt-to-equity ratio of 1.55. The business has a fifty day simple moving average of $115.12 and a 200-day simple moving average of $110.03. Duke Energy Co. has a 52 week low of $90.09 and a 52 week high of $121.25.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11). Duke Energy had a return on equity of 9.34% and a net margin of 14.31%. The business had revenue of $8.16 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same period last year, the company posted $1.94 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts expect that Duke Energy Co. will post 5.97 EPS for the current year.

Duke Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $1.045 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.18 dividend on an annualized basis and a yield of 3.56%. Duke Energy’s dividend payout ratio (DPR) is 76.84%.

Analysts Set New Price Targets

DUK has been the subject of several research reports. Morgan Stanley cut their price objective on Duke Energy from $122.00 to $118.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. JPMorgan Chase & Co. boosted their price target on Duke Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Scotiabank boosted their price target on Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Bank of America boosted their price target on Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, The Goldman Sachs Group boosted their price target on Duke Energy from $102.00 to $113.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Duke Energy currently has an average rating of “Moderate Buy” and a consensus price target of $121.69.

About Duke Energy

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.