Azimuth Capital Investment Management LLC Raises Position in Duke Energy Corporation (NYSE:DUK)

Key Points

• Azimuth Capital Investment Management LLC increased its stake in Duke Energy Corporation by 2.6%, owning 92,864 shares valued at approximately $11.3 million after acquiring an additional 2,356 shares.
• Duke Energy recently announced a quarterly dividend of $1.065, marking an increase from its previous dividend of $1.05 and representing a dividend yield of 3.4%.
• The company reported earnings of $1.25 EPS for the recent quarter, slightly missing estimates, but showing strong revenue growth of 4.7% year-over-year.

Azimuth Capital Investment Management LLC grew its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 2.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 92,864 shares of the utilities provider's stock after buying an additional 2,356 shares during the period. Azimuth Capital Investment Management LLC's holdings in Duke Energy were worth $11,327,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of DUK. Vermillion Wealth Management Inc. bought a new stake in shares of Duke Energy in the fourth quarter worth approximately $27,000. Wayfinding Financial LLC bought a new stake in shares of Duke Energy in the first quarter worth approximately $27,000. N.E.W. Advisory Services LLC bought a new stake in shares of Duke Energy in the first quarter worth approximately $27,000. Mattson Financial Services LLC bought a new stake in shares of Duke Energy in the fourth quarter worth approximately $28,000. Finally, Financial Network Wealth Advisors LLC grew its stake in shares of Duke Energy by 360.0% in the first quarter. Financial Network Wealth Advisors LLC now owns 253 shares of the utilities provider's stock worth $31,000 after acquiring an additional 198 shares during the period. 65.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Duke Energy

In other news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $124.26, for a total value of $832,542.00. Following the transaction, the executive vice president owned 46,422 shares of the company's stock, valued at approximately $5,768,397.72. The trade was a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.14% of the company's stock.

Duke Energy Stock Performance

DUK opened at $124.33 on Friday. The firm has a market cap of $96.68 billion, a P/E ratio of 20.22, a PEG ratio of 3.03 and a beta of 0.36. Duke Energy Corporation has a 1-year low of $105.20 and a 1-year high of $127.85. The company has a 50 day simple moving average of $118.93 and a two-hundred day simple moving average of $117.88. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.66 and a quick ratio of 0.42.

Duke Energy (NYSE:DUK - Get Free Report) last released its earnings results on Tuesday, August 5th. The utilities provider reported $1.25 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.04). Duke Energy had a return on equity of 9.85% and a net margin of 15.51%. The company had revenue of $7.51 billion during the quarter, compared to analysts' expectations of $7.07 billion. During the same period last year, the firm posted $1.18 EPS. Duke Energy's quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders 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 3.4%. 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 payout ratio is presently 67.97%.

Analysts Set New Price Targets

DUK has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target on shares of Duke Energy from $125.00 to $124.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. Barclays restated an "overweight" rating and set a $131.00 target price (up from $122.00) on shares of Duke Energy in a research report on Wednesday. Scotiabank boosted their target price on shares of Duke Energy from $120.00 to $128.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 6th. BMO Capital Markets boosted their target price on shares of Duke Energy from $131.00 to $132.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Duke Energy from $122.00 to $127.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $129.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.