Brookfield Corp ON Acquires 531,073 Shares of Duke Energy Co. (NYSE:DUK)

Brookfield Corp ON boosted its holdings in shares of Duke Energy Co. (NYSE:DUK) by 112.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,002,811 shares of the utilities provider’s stock after purchasing an additional 531,073 shares during the period. Duke Energy comprises 0.7% of Brookfield Corp ON’s portfolio, making the stock its 24th biggest holding. Brookfield Corp ON owned about 0.13% of Duke Energy worth $115,624,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Goodman Advisory Group LLC acquired a new stake in shares of Duke Energy during the second quarter worth approximately $2,888,000. Hilltop Holdings Inc. grew its holdings in shares of Duke Energy by 59.2% during the third quarter. Hilltop Holdings Inc. now owns 23,388 shares of the utilities provider’s stock worth $2,697,000 after purchasing an additional 8,699 shares during the last quarter. Commerce Bank increased its stake in shares of Duke Energy by 5.9% in the third quarter. Commerce Bank now owns 269,217 shares of the utilities provider’s stock valued at $31,041,000 after buying an additional 15,069 shares in the last quarter. PrairieView Partners LLC acquired a new position in Duke Energy during the 2nd quarter worth about $501,000. Finally, Dynamic Technology Lab Private Ltd increased its position in Duke Energy by 1,258.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 49,341 shares of the utilities provider’s stock valued at $5,689,000 after acquiring an additional 45,708 shares in the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DUK. The Goldman Sachs Group raised their price target on shares of Duke Energy from $102.00 to $113.00 and gave the company a “neutral” rating in a report on Monday, August 12th. JPMorgan Chase & Co. lifted their price objective on Duke Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Jefferies Financial Group began coverage on shares of Duke Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $138.00 target price on the stock. BMO Capital Markets lifted their price target on shares of Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Finally, Barclays increased their price target on Duke Energy from $102.00 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Duke Energy currently has an average rating of “Moderate Buy” and an average target price of $121.69.

Duke Energy Stock Performance

Shares of DUK opened at $112.04 on Friday. The firm’s 50 day moving average price is $115.01 and its two-hundred day moving average price is $110.49. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.45 and a current ratio of 0.70. Duke Energy Co. has a twelve month low of $90.09 and a twelve month high of $121.25. The firm has a market cap of $86.55 billion, a P/E ratio of 20.60, a PEG ratio of 2.99 and a beta of 0.47.

Duke Energy (NYSE:DUK) last released 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). The firm had revenue of $8.16 billion for the quarter, compared to analyst estimates of $8.06 billion. Duke Energy had a return on equity of 9.34% and a net margin of 14.31%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $1.94 EPS. On average, analysts forecast that Duke Energy Co. will post 5.95 EPS for the current fiscal year.

Duke Energy Announces Dividend

The business 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 is Friday, November 15th. This represents a $4.18 annualized dividend and a yield of 3.73%. Duke Energy’s dividend payout ratio (DPR) is presently 76.84%.

Duke Energy Company 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.