CORDA Investment Management LLC. Invests $3.06 Million in Duke Energy Corporation $DUK

CORDA Investment Management LLC. bought a new position in shares of Duke Energy Corporation (NYSE:DUK) in the second quarter, Holdings Channel reports. The institutional investor bought 24,168 shares of the utilities provider’s stock, valued at approximately $3,059,000.

Several other large investors have also recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its stake in shares of Duke Energy by 12,624.6% in the second quarter. California State Teachers Retirement System now owns 114,736,922 shares of the utilities provider’s stock valued at $14,523,400,000 after buying an additional 113,835,227 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Duke Energy by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 19,292,633 shares of the utilities provider’s stock worth $2,266,675,000 after acquiring an additional 230,375 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Duke Energy by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,931,127 shares of the utilities provider’s stock valued at $1,046,818,000 after purchasing an additional 58,375 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Duke Energy by 13.1% during the fourth quarter. Franklin Resources Inc. now owns 8,236,893 shares of the utilities provider’s stock worth $965,446,000 after acquiring an additional 954,907 shares during the last quarter. Finally, Northern Trust Corp increased its position in Duke Energy by 0.4% in the third quarter. Northern Trust Corp now owns 7,758,700 shares of the utilities provider’s stock worth $960,139,000 after purchasing an additional 31,703 shares during the period. 65.31% of the stock is owned by institutional investors.

Duke Energy Stock Up 0.9%

DUK stock traded up $1.10 during mid-day trading on Tuesday, reaching $121.32. The company had a trading volume of 3,462,335 shares, compared to its average volume of 3,982,849. The company has a market capitalization of $94.59 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 2.80 and a beta of 0.37. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.66 and a quick ratio of 0.43. Duke Energy Corporation has a 52 week low of $113.89 and a 52 week high of $134.49. The stock has a 50 day simple moving average of $124.59 and a two-hundred day simple moving average of $126.39.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.13. Duke Energy had a net margin of 15.78% and a return on equity of 9.78%. The firm had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter last year, the company posted $1.25 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, equities analysts predict that Duke Energy Corporation will post 6.72 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th will be issued a dividend of $1.085 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $4.34 annualized dividend and a yield of 3.6%. This is a positive change from Duke Energy’s previous quarterly dividend of $1.06. Duke Energy’s payout ratio is 65.17%.

Analyst Upgrades and Downgrades

Several brokerages have commented on DUK. Jefferies Financial Group dropped their target price on shares of Duke Energy from $143.00 to $138.00 in a research report on Monday, May 11th. Mizuho set a $136.00 price objective on shares of Duke Energy in a research note on Wednesday, August 5th. Evercore upped their target price on shares of Duke Energy from $139.00 to $140.00 in a research note on Monday, May 11th. UBS Group cut their target price on shares of Duke Energy from $137.00 to $135.00 in a report on Monday, May 11th. Finally, BMO Capital Markets reduced their price target on shares of Duke Energy from $134.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 5th. Ten research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $137.94.

About Duke Energy

Duke Energy Corporation is a U.S.-based electric power holding company headquartered in Charlotte, North Carolina. The company’s core business is the generation, transmission and distribution of electricity to residential, commercial and industrial customers. Duke Energy operates a mix of regulated electric utilities and non-regulated energy businesses, providing essential energy infrastructure and services across multiple states.

Its operating activities include owning and operating generation assets across a portfolio that encompasses nuclear, natural gas, coal, hydroelectric and an expanding array of renewable resources, as well as battery storage and grid modernization projects.