Argyle Capital Management LLC Buys 606 Shares of Duke Energy Co. (NYSE:DUK)

Argyle Capital Management LLC increased its stake in Duke Energy Co. (NYSE:DUK) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,814 shares of the utilities provider’s stock after purchasing an additional 606 shares during the period. Duke Energy makes up 1.3% of Argyle Capital Management LLC’s holdings, making the stock its 27th largest position. Argyle Capital Management LLC’s holdings in Duke Energy were worth $3,320,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. abrdn plc lifted its stake in Duke Energy by 23.2% in the 3rd quarter. abrdn plc now owns 257,492 shares of the utilities provider’s stock valued at $29,707,000 after acquiring an additional 48,514 shares in the last quarter. Diversify Advisory Services LLC raised its stake in shares of Duke Energy by 11.7% during the 3rd quarter. Diversify Advisory Services LLC now owns 3,079 shares of the utilities provider’s stock worth $369,000 after purchasing an additional 323 shares in the last quarter. Golden State Equity Partners grew its stake in shares of Duke Energy by 24.8% in the third quarter. Golden State Equity Partners now owns 4,599 shares of the utilities provider’s stock valued at $530,000 after buying an additional 915 shares in the last quarter. Diversify Wealth Management LLC increased its holdings in Duke Energy by 5.0% during the third quarter. Diversify Wealth Management LLC now owns 4,958 shares of the utilities provider’s stock worth $598,000 after buying an additional 234 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its stake in Duke Energy by 3,922.2% in the third quarter. JFS Wealth Advisors LLC now owns 5,068 shares of the utilities provider’s stock valued at $584,000 after acquiring an additional 4,942 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DUK shares. Jefferies Financial Group boosted their price objective on shares of Duke Energy from $129.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Scotiabank raised their price objective on Duke Energy from $113.00 to $120.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. BMO Capital Markets boosted their target price on Duke Energy from $119.00 to $124.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Morgan Stanley cut their price target on Duke Energy from $122.00 to $118.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.62.

Duke Energy Stock Performance

NYSE DUK opened at $116.03 on Friday. The firm has a 50-day moving average price of $110.85 and a two-hundred day moving average price of $113.10. Duke Energy Co. has a 12-month low of $90.09 and a 12-month high of $121.25. The company has a market capitalization of $89.63 billion, a P/E ratio of 20.32, a P/E/G ratio of 2.79 and a beta of 0.50. The company has a quick ratio of 0.44, a current ratio of 0.67 and a debt-to-equity ratio of 1.52.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.05. Duke Energy had a return on equity of 9.50% and a net margin of 14.90%. Analysts anticipate that Duke Energy Co. will post 6.33 earnings per share for the current year.

Duke Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 14th will be issued a $1.045 dividend. This represents a $4.18 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Friday, February 14th. Duke Energy’s dividend payout ratio is currently 73.20%.

About Duke Energy

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.