Voloridge Investment Management LLC Invests $2.84 Million in Duke Energy Co. (NYSE:DUK)

Voloridge Investment Management LLC acquired a new stake in Duke Energy Co. (NYSE:DUK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 26,322 shares of the utilities provider's stock, valued at approximately $2,836,000.

Other institutional investors also recently made changes to their positions in the company. Parkworth Wealth Management Inc. purchased a new stake in shares of Duke Energy in the 4th quarter valued at $28,000. WealthTrak Capital Management LLC purchased a new stake in shares of Duke Energy in the 4th quarter valued at $30,000. Rakuten Securities Inc. raised its holdings in Duke Energy by 1,500.0% during the 4th quarter. Rakuten Securities Inc. now owns 288 shares of the utilities provider's stock valued at $31,000 after buying an additional 270 shares during the last quarter. Sierra Ocean LLC bought a new stake in Duke Energy during the 4th quarter valued at $31,000. Finally, CGC Financial Services LLC raised its holdings in Duke Energy by 366.7% during the 4th quarter. CGC Financial Services LLC now owns 308 shares of the utilities provider's stock valued at $33,000 after buying an additional 242 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company's stock.

Duke Energy Stock Up 1.9%

DUK stock traded up $2.16 during trading on Friday, hitting $117.61. 8,077,893 shares of the stock traded hands, compared to its average volume of 3,463,207. Duke Energy Co. has a 1 year low of $99.21 and a 1 year high of $125.27. The firm's 50 day moving average is $118.76 and its two-hundred day moving average is $114.77. The stock has a market cap of $91.41 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 2.79 and a beta of 0.39. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.67 and a quick ratio of 0.44.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.59 by $0.17. The firm had revenue of $8.25 billion for the quarter, compared to the consensus estimate of $7.70 billion. Duke Energy had a net margin of 14.90% and a return on equity of 9.50%. The business's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.44 EPS. On average, sell-side analysts anticipate that Duke Energy Co. will post 6.33 EPS for the current year.

Duke Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be issued a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Friday, May 16th. Duke Energy's payout ratio is presently 69.32%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Duke Energy from $114.00 to $121.00 and gave the company a "neutral" rating in a report on Tuesday, March 11th. BMO Capital Markets lowered their price target on shares of Duke Energy from $128.00 to $123.00 and set an "outperform" rating for the company in a report on Thursday, April 10th. UBS Group upped their price objective on shares of Duke Energy from $123.00 to $127.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Wells Fargo & Company upped their price objective on shares of Duke Energy from $127.00 to $138.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, Morgan Stanley reduced their target price on shares of Duke Energy from $126.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 22nd. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Duke Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $125.81.

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.