Birmingham Capital Management Co. Inc. AL Makes New $2.71 Million Investment in Duke Energy Corporation $DUK

Birmingham Capital Management Co. Inc. AL bought a new position in shares of Duke Energy Corporation (NYSE:DUK) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 21,413 shares of the utilities provider’s stock, valued at approximately $2,710,000.

A number of other hedge funds and other institutional investors have also modified their holdings of DUK. Basso Capital Management L.P. bought a new position in Duke Energy in the 4th quarter worth approximately $25,000. Evolution Wealth Management Inc. boosted its position in Duke Energy by 1,111.1% in the 4th quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Triumph Capital Management increased its stake in shares of Duke Energy by 68.6% in the 4th quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock valued at $27,000 after buying an additional 94 shares during the period. Cornerstone Financial Management LLC acquired a new stake in shares of Duke Energy in the 4th quarter valued at $28,000. Finally, Cornerstone Planning Group LLC raised its position in shares of Duke Energy by 13,750.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 277 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 275 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Trading Up 0.3%

Shares of NYSE DUK opened at $122.00 on Thursday. The company’s fifty day moving average is $125.46 and its 200-day moving average is $126.66. The stock has a market cap of $95.12 billion, a price-to-earnings ratio of 18.32, a P/E/G ratio of 2.84 and a beta of 0.38. Duke Energy Corporation has a twelve month low of $113.89 and a twelve month high of $134.49. The company has a quick ratio of 0.43, a current ratio of 0.66 and a debt-to-equity ratio of 1.47.

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

Duke Energy Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DUK shares. BMO Capital Markets cut their price target on Duke Energy from $134.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Duke Energy in a report on Friday, July 31st. Jefferies Financial Group cut their target price on shares of Duke Energy from $143.00 to $138.00 in a research report on Monday, May 11th. BTIG Research reaffirmed a “buy” rating on shares of Duke Energy in a research note on Thursday, July 23rd. Finally, Barclays lowered their price target on shares of Duke Energy from $140.00 to $132.00 and set an “overweight” rating for the company in a research report on Wednesday, August 5th. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $137.94.

More Duke Energy News

Here are the key news stories impacting Duke Energy this week:

• Positive Sentiment: Potential data-center growth: Duke Energy Florida was reportedly approached about serving several very large data centers. If these projects move forward, they could create substantial long-term electricity demand, revenue growth and opportunities to spread infrastructure costs across new commercial customers. Duke Energy Florida was approached about huge data centers, among largest in world
• Positive Sentiment: Analyst support: Duke Energy Corporation received a consensus “Moderate Buy” rating, indicating that analysts generally see additional upside or view the stock as attractive for income-oriented investors. Duke Energy Corporation Given Consensus Recommendation of Moderate Buy by Analysts
• Neutral Sentiment: Grid-technology exposure: Energy software company Camus Energy was selected for a Google accelerator and plans to demonstrate technology to Duke and other utilities. The potential for more flexible grid connections could help Duke manage data-center demand, although the immediate financial impact is unclear. Camus Energy Selected for Google for Startups Accelerator Program
• Neutral Sentiment: Duke’s linemen appreciation event and a $25,000 grant to Asheboro small businesses reinforce community engagement but are unlikely to materially affect earnings or valuation. Duke Energy holds Linemen Appreciation Day in St. Pete Downtown Asheboro gets $25K grant from Duke Energy
• Negative Sentiment: Project and regulatory opposition: Protesters are campaigning against Duke’s proposed gas plant, while consumer advocates criticize a Florida Public Service Commission proceeding involving a potential data-center-related rate structure. Delays, added compliance costs or rules preventing residential customers from bearing data-center infrastructure costs could pressure returns on new projects. Data center protesters rally against Duke Energy’s proposed gas plant FL PSC Punts on Ratepayer Protection by Considering Duke’s Data Center Loophole

Duke Energy Company Profile

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.