Alpha Cubed Investments LLC Makes New $677,000 Investment in Duke Energy Corporation (NYSE:DUK)

Alpha Cubed Investments LLC acquired a new stake in Duke Energy Corporation (NYSE:DUK - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,548 shares of the utilities provider's stock, valued at approximately $677,000.

Other large investors also recently added to or reduced their stakes in the company. Vermillion Wealth Management Inc. bought a new stake in shares of Duke Energy in the 4th quarter valued at about $27,000. Wayfinding Financial LLC bought a new position in shares of Duke Energy during the 1st quarter worth approximately $27,000. Parkworth Wealth Management Inc. bought a new position in shares of Duke Energy during the 4th quarter worth approximately $28,000. Mattson Financial Services LLC bought a new position in shares of Duke Energy during the 4th quarter worth approximately $28,000. Finally, WealthTrak Capital Management LLC bought a new position in shares of Duke Energy during the 4th quarter worth approximately $30,000. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Trading Down 0.8%

DUK stock traded down $0.96 during mid-day trading on Tuesday, hitting $116.33. 3,135,082 shares of the company were exchanged, compared to its average volume of 3,484,714. The company has a quick ratio of 0.50, a current ratio of 0.77 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $90.42 billion, a P/E ratio of 19.29, a PEG ratio of 2.93 and a beta of 0.37. The business has a fifty day simple moving average of $117.14 and a 200-day simple moving average of $115.55. Duke Energy Corporation has a 12-month low of $100.03 and a 12-month high of $125.27.

Duke Energy (NYSE:DUK - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $1.76 EPS for the quarter, beating the consensus estimate of $1.59 by $0.17. Duke Energy had a net margin of 15.40% and a return on equity of 9.88%. The business had revenue of $8.25 billion during the quarter, compared to analyst estimates of $7.70 billion. During the same quarter last year, the firm posted $1.44 earnings per share. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities research analysts predict that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 16th were paid a $1.045 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $4.18 dividend on an annualized basis and a yield of 3.59%. Duke Energy's dividend payout ratio is currently 69.32%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. The Goldman Sachs Group set a $132.00 price target on shares of Duke Energy in a research note on Tuesday, July 1st. BMO Capital Markets dropped their price objective on shares of Duke Energy from $128.00 to $123.00 and set an "outperform" rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company upped their price objective on shares of Duke Energy from $127.00 to $138.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. UBS Group reaffirmed a "neutral" rating and issued a $127.00 price objective (up from $126.00) on shares of Duke Energy in a report on Monday, June 2nd. Finally, JPMorgan Chase & Co. upped their price objective 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. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $126.88.

Duke Energy 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.