Jacobs Levy Equity Management Inc. Takes Position in Duke Energy Co. (NYSE:DUK)

Jacobs Levy Equity Management Inc. bought a new position in Duke Energy Co. (NYSE:DUK) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 280,828 shares of the utilities provider’s stock, valued at approximately $32,379,000.

A number of other institutional investors have also recently bought and sold shares of the business. CWM LLC lifted its stake in Duke Energy by 4.6% during the second quarter. CWM LLC now owns 42,252 shares of the utilities provider’s stock worth $4,235,000 after purchasing an additional 1,841 shares during the period. Aprio Wealth Management LLC bought a new position in shares of Duke Energy during the 2nd quarter worth approximately $270,000. Simplicity Wealth LLC boosted its stake in Duke Energy by 11.9% in the 2nd quarter. Simplicity Wealth LLC now owns 24,229 shares of the utilities provider’s stock valued at $2,429,000 after buying an additional 2,583 shares in the last quarter. Fortitude Family Office LLC grew its position in Duke Energy by 69.6% in the second quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 119 shares during the period. Finally, Wesbanco Bank Inc. raised its stake in Duke Energy by 1.4% during the second quarter. Wesbanco Bank Inc. now owns 64,453 shares of the utilities provider’s stock worth $6,460,000 after acquiring an additional 871 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Stock Performance

Duke Energy stock opened at $113.64 on Wednesday. Duke Energy Co. has a 1 year low of $90.09 and a 1 year high of $121.25. The company’s 50-day moving average is $115.09 and its two-hundred day moving average is $110.44. The company has a current ratio of 0.70, a quick ratio of 0.45 and a debt-to-equity ratio of 1.55. The company has a market cap of $87.78 billion, a PE ratio of 20.89, a PEG ratio of 3.04 and a beta of 0.47.

Duke Energy (NYSE:DUK) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11). The business had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $8.06 billion. Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. Duke Energy’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.94 earnings per share. Equities analysts anticipate that Duke Energy Co. will post 5.96 earnings per share for the current year.

Duke Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $1.045 dividend. The ex-dividend date is Friday, November 15th. This represents a $4.18 dividend on an annualized basis and a yield of 3.68%. Duke Energy’s dividend payout ratio is presently 76.84%.

Wall Street Analysts Forecast Growth

DUK has been the topic of several analyst reports. KeyCorp lowered shares of Duke Energy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 22nd. Evercore ISI upped their price objective on shares of Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on shares of Duke Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Royal Bank of Canada restated an “outperform” rating and set a $135.00 price target on shares of Duke Energy in a research report on Thursday, August 29th. Finally, Mizuho upgraded Duke Energy from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $116.00 to $121.00 in a research report on Tuesday, October 15th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Duke Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.69.

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.