Traders Buy Duke Energy (DUK) on Weakness

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Traders bought shares of Duke Energy Corp (NYSE:DUK) on weakness during trading hours on Monday. $72.06 million flowed into the stock on the tick-up and $35.01 million flowed out of the stock on the tick-down, for a money net flow of $37.05 million into the stock. Of all stocks tracked, Duke Energy had the 24th highest net in-flow for the day. Duke Energy traded down ($0.41) for the day and closed at $88.73

A number of research firms recently weighed in on DUK. Bank of America raised their price objective on Duke Energy from $89.00 to $91.00 and gave the company a “neutral” rating in a research report on Monday, March 11th. Morgan Stanley raised their price objective on Duke Energy from $85.00 to $88.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 12th. ValuEngine lowered Duke Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Credit Suisse Group lowered Duke Energy from an “outperform” rating to a “neutral” rating in a research report on Friday, February 15th. Finally, Zacks Investment Research lowered Duke Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $86.10.

The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.44. The company has a market cap of $64.77 billion, a P/E ratio of 19.00, a price-to-earnings-growth ratio of 3.62 and a beta of 0.06.

Duke Energy (NYSE:DUK) last issued its earnings results on Thursday, February 14th. The utilities provider reported $0.84 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.05). Duke Energy had a net margin of 10.87% and a return on equity of 7.80%. The business had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the prior year, the business posted $0.94 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts expect that Duke Energy Corp will post 4.94 EPS for the current year.

In other Duke Energy news, EVP Melissa H. Anderson sold 2,000 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $87.49, for a total transaction of $174,980.00. Following the sale, the executive vice president now directly owns 18,198 shares in the company, valued at approximately $1,592,143.02. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Lloyd M. Yates sold 3,500 shares of the stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $88.51, for a total value of $309,785.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,250 shares of company stock worth $1,900,878. Company insiders own 0.09% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley boosted its stake in shares of Duke Energy by 13.8% in the 3rd quarter. Morgan Stanley now owns 3,792,774 shares of the utilities provider’s stock worth $303,498,000 after buying an additional 460,092 shares during the last quarter. First Mercantile Trust Co. boosted its stake in shares of Duke Energy by 69.4% in the 4th quarter. First Mercantile Trust Co. now owns 1,050 shares of the utilities provider’s stock worth $91,000 after buying an additional 430 shares during the last quarter. Ffcm LLC boosted its stake in shares of Duke Energy by 12.8% in the 4th quarter. Ffcm LLC now owns 34,758 shares of the utilities provider’s stock worth $3,000,000 after buying an additional 3,947 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its stake in shares of Duke Energy by 3.9% in the 1st quarter. Prime Capital Investment Advisors LLC now owns 5,545 shares of the utilities provider’s stock worth $499,000 after buying an additional 209 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Duke Energy by 4.7% in the 4th quarter. Northern Trust Corp now owns 9,338,113 shares of the utilities provider’s stock worth $805,879,000 after buying an additional 415,434 shares during the last quarter. Hedge funds and other institutional investors own 60.74% of the company’s stock.

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About Duke Energy (NYSE:DUK)

Duke Energy Corp. engages in distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio.

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