Patron Partners LLC Buys 226 Shares of Duke Energy Co. (NYSE:DUK)

Patron Partners LLC grew its stake in Duke Energy Co. (NYSE:DUK) by 10.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,407 shares of the utilities provider’s stock after buying an additional 226 shares during the period. Patron Partners LLC’s holdings in Duke Energy were worth $278,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in shares of Duke Energy in the 3rd quarter worth approximately $30,000. Fortitude Family Office LLC raised its stake in Duke Energy by 69.6% during the second quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after buying an additional 119 shares during the last quarter. Olistico Wealth LLC acquired a new position in Duke Energy in the second quarter valued at $30,000. Sachetta LLC boosted its position in Duke Energy by 41.9% during the second quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 96 shares during the last quarter. Finally, Reston Wealth Management LLC acquired a new stake in Duke Energy during the 3rd quarter worth about $38,000. 65.31% of the stock is currently owned by institutional investors.

Duke Energy Stock Performance

Shares of DUK opened at $112.46 on Tuesday. The firm has a market capitalization of $86.84 billion, a P/E ratio of 20.67, a P/E/G ratio of 3.09 and a beta of 0.47. Duke Energy Co. has a 52 week low of $86.61 and a 52 week high of $121.25. The stock has a 50 day moving average price of $115.81 and a two-hundred day moving average price of $108.97. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.53 and a current ratio of 0.70.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.11). Duke Energy had a return on equity of 9.34% and a net margin of 14.31%. The company had revenue of $8.16 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter last year, the company posted $1.94 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts forecast that Duke Energy Co. will post 5.97 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s payout ratio is 76.84%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on DUK shares. Bank of America boosted their price objective on Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Wells Fargo & Company raised their price objective on shares of Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of Duke Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. BMO Capital Markets raised their price target on shares of Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $135.00 price objective on shares of Duke Energy in a research report on Thursday, August 29th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Duke Energy presently has an average rating of “Moderate Buy” and an average price target of $121.85.

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.