Arkadios Wealth Advisors Buys 18,781 Shares of Duke Energy Corporation (NYSE:DUK)

Key Points

• Arkadios Wealth Advisors increased its holdings in Duke Energy Corporation by 146.9%, acquiring an additional 18,781 shares, resulting in a total of 31,562 shares valued at approximately $3.85 million.
• Duke Energy's recent quarterly earnings surpassed expectations, reporting $1.76 EPS compared to the consensus estimate of $1.59, with revenue hitting $8.25 billion, a 7.5% year-over-year increase.
• The company announced a dividend increase to $1.065 per share, with a dividend yield of 3.53%, after raising it from the previous distribution of $1.05.

Arkadios Wealth Advisors boosted its position in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 146.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,562 shares of the utilities provider's stock after acquiring an additional 18,781 shares during the period. Arkadios Wealth Advisors' holdings in Duke Energy were worth $3,850,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vermillion Wealth Management Inc. bought a new position in Duke Energy in the 4th quarter worth $27,000. Wayfinding Financial LLC purchased a new position in shares of Duke Energy in the first quarter valued at about $27,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Duke Energy during the first quarter worth about $27,000. Mattson Financial Services LLC bought a new stake in Duke Energy during the 4th quarter valued at approximately $28,000. Finally, Redwood Park Advisors LLC purchased a new position in Duke Energy in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 65.31% of the company's stock.

Duke Energy Price Performance

DUK opened at $120.58 on Thursday. 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 business has a fifty day moving average of $117.09 and a 200 day moving average of $116.70. Duke Energy Corporation has a 52-week low of $105.20 and a 52-week high of $125.27. The stock has a market cap of $93.72 billion, a P/E ratio of 20.00, a PEG ratio of 2.99 and a beta of 0.37.

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

Duke Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be issued a $1.065 dividend. This represents a $4.26 annualized dividend and a dividend yield of 3.53%. This is a boost from Duke Energy's previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, August 15th. Duke Energy's dividend payout ratio is currently 69.32%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DUK shares. JPMorgan Chase & Co. upped their price target on Duke Energy from $122.00 to $127.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. BMO Capital Markets dropped their price objective 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. Raymond James Financial initiated coverage on Duke Energy in a report on Friday, June 13th. They issued a "market perform" rating on the stock. Citigroup boosted their target price on Duke Energy from $130.00 to $142.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, Barclays reduced their price objective on Duke Energy from $123.00 to $122.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 1st. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.25.

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.

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