Blueshift Asset Management LLC Buys New Holdings in Duke Energy Corporation (NYSE:DUK)

Key Points

• Blueshift Asset Management LLC has acquired 9,267 shares of Duke Energy Corporation for approximately $1,130,000 during the first quarter, as reported in their latest SEC filing.
• Duke Energy announced a new quarterly dividend of $1.065, representing a yield of 3.5%, with the payout date set for September 16th.
• Analysts currently have a consensus rating of "Moderate Buy" for Duke Energy, with price targets ranging from $124.00 to $142.00.

Blueshift Asset Management LLC purchased a new stake in shares of Duke Energy Corporation (NYSE:DUK - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 9,267 shares of the utilities provider's stock, valued at approximately $1,130,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DUK. Vermillion Wealth Management Inc. acquired a new stake in shares of Duke Energy during the fourth quarter worth approximately $27,000. Wayfinding Financial LLC bought a new stake in shares of Duke Energy in the first quarter worth $27,000. N.E.W. Advisory Services LLC bought a new stake in shares of Duke Energy in the first quarter worth $27,000. Mattson Financial Services LLC bought a new stake in shares of Duke Energy in the fourth quarter worth $28,000. Finally, Redwood Park Advisors LLC bought a new stake in shares of Duke Energy in the fourth quarter worth $36,000. 65.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. BMO Capital Markets reduced their target price on Duke Energy from $128.00 to $123.00 and set an "outperform" rating on the stock in a report on Thursday, April 10th. UBS Group reaffirmed a "neutral" rating and issued a $127.00 price objective (up previously from $124.00) on shares of Duke Energy in a research note on Friday, July 11th. Wells Fargo & Company upped their price target on Duke Energy from $127.00 to $138.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Citigroup raised their price objective 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, The Goldman Sachs Group set a $132.00 target price on Duke Energy in a research report 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 company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $127.25.

Duke Energy Stock Performance

Duke Energy stock traded up $1.33 on Friday, reaching $122.97. 4,495,848 shares of the stock were exchanged, compared to its average volume of 2,576,647. The stock has a market cap of $95.58 billion, a PE ratio of 20.39, a PEG ratio of 2.97 and a beta of 0.36. The firm has a fifty day moving average price of $117.35 and a two-hundred day moving average price of $117.00. Duke Energy Corporation has a twelve month low of $105.20 and a twelve month high of $125.27. The company has a current ratio of 0.77, a quick ratio of 0.50 and a debt-to-equity ratio of 1.57.

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

Duke Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be paid a dividend of $1.065 per share. This represents a $4.26 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, August 15th. This is an increase from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's dividend payout ratio is currently 69.32%.

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.