Duke Energy Co. (NYSE:DUK), a renowned utilities provider, has caught the attention of investment firm Peregrine Asset Advisers Inc., as it recently acquired a new stake in the company during the first quarter of this year. According to the Securities and Exchange Commission (SEC) filings, Peregrine Asset Advisers Inc. purchased 11,849 shares of Duke Energy’s stock which have an estimated value of approximately $1,143,000. This acquisition now places Duke Energy at the 28th position in Peregrine Asset Advisers Inc.’s investment portfolio, constituting around 1.1% of their total holdings.
Duke Energy’s presence in Peregrine Asset Advisers’ portfolio highlights their belief in the potential growth and sustainability that this utilities provider offers. The company has continuously established itself as a prominent player in the energy sector and holds a reputation for providing reliable utility services across various states.
In addition to this recent development, Duke Energy has also made headlines with its announcement of a forthcoming quarterly dividend set to be paid on Monday, September 18th. Investors who are registered on Friday, August 18th will receive a dividend payment of $1.025 per share. It is worth noting that this dividend amount represents a positive change from their previous payout of $1.01 per share.
Furthermore, dividend-seeking investors may find Duke Energy attractive due to its impressive annualized dividend payout ratio of $4.10 per share and an appealing yield of 4.37%. These figures demonstrate Duke Energy’s commitment to delivering consistent returns to its valued shareholders while maintaining financial stability.
Peregrine Asset Advisers Inc.’s decision to invest in Duke Energy signifies their confidence in both the present focus and future prospects of the company. Duke Energy has consistently shown strong financial performance and has positioned itself as a trusted name within the utilities industry.
Investors considering Duke Energy should weigh the company’s strong fundamentals, track record, and potential for growth against any potential risks. As with any investment decision, it is essential to conduct thorough research and consult with a financial advisor before making any commitments.
As of now, Duke Energy holds a promising position in Peregrine Asset Advisers Inc.’s portfolio, showcasing its robust business model and potential for further success in the utilities sector. The upcoming dividend payment is likely to attract considerable attention from income-focused investors.
In conclusion, Peregrine Asset Advisers Inc.’s recent acquisition of Duke Energy stock and Duke Energy’s announcement of an increased quarterly dividend payment both indicate positive prospects for investors. As we progress into the future, it will be intriguing to observe how Duke Energy continues to solidify its position within the utilities industry while providing consistent returns for its shareholders.
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Duke Energy: Hedge Fund Activity and Analyst Ratings Point to Shifting Landscape in the Energy Industry
August 14, 2023 – Duke Energy (NYSE: DUK), a leading utilities provider, has recently witnessed several hedge funds modifying their holdings in the company. This shift in ownership highlights the evolving landscape of the energy industry and the strategic moves made by institutional investors.
Northwest Investment Counselors LLC, for instance, increased its position in Duke Energy by an astonishing 174.2% during the first quarter. The firm now owns 266 shares valued at $26,000, after acquiring an additional 169 shares in the last quarter. Similarly, Richard W. Paul & Associates LLC entered the scene by purchasing a new stake in Duke Energy worth $29,000 during the fourth quarter.
Another player, Lipe & Dalton, displayed confidence in Duke Energy’s potential by increasing its position by 41.2% during the same period. Lipe & Dalton now owns 343 shares valued at $35,000 after acquiring an additional 100 shares in the last quarter. Fairfield Bush & CO., also recognizing the value proposition offered by Duke Energy, purchased a new stake worth $40,000 during the first quarter. Lastly, Compass Wealth Management LLC joined this trend and invested $41,000 in Duke Energy during the fourth quarter.
These moves raise questions about what attracts hedge funds and institutional investors to Duke Energy while showcasing their trust in its long-term potential. Hedge funds and other institutional investors currently own an impressive 63.13% of Duke Energy’s stock.
Several research firms have also weighed in on Duke Energy’s prospects amid these developments. Morgan Stanley has reiterated its “equal weight” rating on the stock and set a price target of $102.00 per share as of July 21st. Bank of America reduced its price target from $112.00 to $110.00 on June 11th while Guggenheim lowered theirs from $114.00 to $102.00 on July 7th. Mizuho, on the other hand, decreased the price target from $107.00 to $92.00 in their research report published on June 13th.
Goldman Sachs, highlighting the company’s potential, initiated coverage on Duke Energy and issued a “neutral” rating along with a price target of $99.00 per share on June 7th. With eight research analysts rating the stock as a hold and two issuing a buy rating, Bloomberg reports that the stock has an average rating of “Hold” and an average price target of $101.55.
As for the recent trading data, shares of NYSE DUK closed at $93.82 on Friday, with a trading volume of 2,428,734 shares – slightly below its average volume of 2,793,916 shares. Duke Energy enjoys a market capitalization of $72.31 billion and boasts financial indicators such as a PE ratio of 52.41 and a P/E/G ratio of 2.74. The stock has demonstrated resilience despite market fluctuations and carries a beta value of 0.43.
Analysts have analyzed Duke Energy’s financial health by looking into its debt-to-equity ratio which stands at 1.42 – showcasing moderate leverage within the company’s operations. In terms of liquidity analysis, Duke Energy maintains a current ratio of 0.75 coupled with a quick ratio of 0.53.
The stock’s fifty-day moving average hovers around $91.68 while its two-hundred-day moving average stands at $94.88 – both metrics reflecting slight fluctuations over time.
On August 8th, Duke Energy released its quarterly earnings report which stated earnings per share (EPS) at $0.91 for the quarter – falling short of analysts’ consensus estimates by ($0.07). This marked departure from expectations led to increased evaluation among investors and industry experts alike.
However, Duke Energy displayed resilience by showcasing a return on equity of 8.05% and a net margin of 5.06%. Despite a decline in revenue by -1.6% from the previous year, the company still generated $6.58 billion during the quarter, surpassing the consensus estimate of $6.16 billion.
Taking into account these earnings figures and market predictions, sell-side analysts anticipate Duke Energy Co. to post an EPS of 5.6 for the current fiscal year.
The ever-changing energy industry presents challenges and opportunities for companies like Duke Energy. As institutions modify their holdings and research firms monitor its performance, all eyes are on how Duke Energy will navigate this competitive landscape and harness its potential for growth and success in the coming quarters. Investors will be eagerly awaiting future developments that shape the trajectory of this utilities provider’s stock performance and overall market value.
Disclaimer: This article is meant for informational purposes only and should not be taken as investment advice. Please consult with your financial advisor before making any investment decisions based on the information provided above.