CreativeOne Wealth LLC Invests in Duke Energy Co.: A Smart Move for Long-Term Investors?

Duke Energy Co earnings report

CreativeOne Wealth LLC has raised its stake in Duke Energy Co. (NYE:DUK) by 11.7% during Q3, according to a recent disclosure with the Securities and Exchange Commission. The firm now holds 10,237 shares of the utility provider, having acquired an extra 1,072 shares during the quarter. The value of CreativeOne Wealth LLC’s stake in Duke Energy stands at $952,000 as of the quarter’s end.

Why Institutional Investors are placing their Confidence in Duke Energy?

Institutional investors have expressed confidence in Duke Energy, with several hedge funds and investment firms having recently adjusted their positions in the company. For example, Price T Rowe Associates Inc. MD increased its Duke Energy Co. (NYE:DUK) stake by 541.8% during Q2, while State Street Corp and BlackRock Inc. raised their holdings in the utilities provider’s stock. Vanguard Group Inc. also boosted its Duke Energy holdings by 1.5% in Q3, and Neuberger Berman Group LLC increased its position by 41.9% during the same period. Institutional investors now own 63.22% of the company’s stock.

Duke Energy’s Stock Rating

Duke Energy has received mixed reviews from Wall Street analysts. Royal Bank of Canada lowered its target price for the company from $116.00 to $112.00, rating the stock as “sector perform.” In contrast, BMO Capital Markets rated the stock as “outperform” and raised its target price from $107.00 to $110.00. Seaport Res Ptn downgraded the stock to a “sell” rating, while Wells Fargo & Company reduced its price target from $111.00 to $103.00, rating the stock as “equal weight.” One analyst gave the stock a sell rating, seven assigned a hold rating, and three issued a buy rating. According to data from StockTargetAdvisor, the stock currently has a consensus rating of “hold” and a consensus price target of $106.64.

Is Duke Energy a Good Buy After Surpassing Earnings Estimates?

Duke Energy’s shares opened at $95.09 on Wednesday, with a market capitalization of $73.23 billion and a price-to-earnings financial ratio of 28.64. The company’s 50-day moving average is $99.72, and its 200-day moving average is $99.13. Duke Energy reported earnings per share of $1.11 in its latest quarterly earnings report, exceeding analysts’ consensus estimates of $1.06 by $0.05. The firm recorded revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $5.27 billion. Duke Energy has a net margin of 9.11% and a return on equity of 8.45%.

Bottom Line

CreativeOne Wealth LLC’s increased stake in Duke Energy and other institutional investors’ confidence in the stock suggest optimism for the company’s future performance. However, Duke Energy has received mixed reviews from Wall Street analysts. The company’s latest quarterly earnings report indicates that it is performing well financially.

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