Duke Energy Corporation (NYSE:DUK) Shares Purchased by Cary Street Partners Financial LLC

Key Points

• Cary Street Partners Financial LLC increased its stake in Duke Energy Corporation by 93.9%, acquiring an additional 28,636 shares, bringing their total holdings to 59,120 shares valued at $7.2 million.
• Analysts have issued varied ratings for Duke Energy, with a consensus of "Moderate Buy" and an average price target of $127.25, highlighting recent price target adjustments from multiple firms.
• Duke Energy announced a quarterly dividend of $1.065 per share, which reflects a positive increase from its previous dividend and demonstrates a 3.4% yield for investors.

Cary Street Partners Financial LLC grew its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 93.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 59,120 shares of the utilities provider's stock after purchasing an additional 28,636 shares during the quarter. Cary Street Partners Financial LLC's holdings in Duke Energy were worth $7,211,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of DUK. Vermillion Wealth Management Inc. acquired a new stake in shares of Duke Energy in the fourth quarter valued at approximately $27,000. Wayfinding Financial LLC bought a new position in Duke Energy in the 1st quarter valued at about $27,000. N.E.W. Advisory Services LLC acquired a new position in Duke Energy in the 1st quarter valued at $27,000. Mattson Financial Services LLC acquired a new stake in shares of Duke Energy in the fourth quarter valued at approximately $28,000. Finally, Redwood Park Advisors LLC bought a new stake in Duke Energy during the fourth quarter worth about $36,000. 65.31% of the stock is owned by institutional investors.

Duke Energy Price Performance

Shares of Duke Energy stock traded up $0.61 on Thursday, hitting $125.82. 2,831,941 shares of the company traded hands, compared to its average volume of 3,175,662. The stock has a market capitalization of $97.84 billion, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 3.03 and a beta of 0.36. Duke Energy Corporation has a 52 week low of $105.20 and a 52 week high of $127.85. The business has a 50-day simple moving average of $118.08 and a 200 day simple moving average of $117.37. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.50 and a current ratio of 0.66.

Duke Energy (NYSE:DUK - Get Free Report) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $1.25 EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $7.07 billion. During the same quarter in the prior year, the company earned $1.18 earnings per share. Duke Energy's revenue was up 4.7% on a year-over-year basis. Research analysts expect that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Duke Energy's previous quarterly dividend of $1.05. This represents a $4.26 dividend on an annualized basis and a yield of 3.4%. Duke Energy's dividend payout ratio is presently 67.97%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DUK shares. UBS Group reissued a "neutral" rating and issued a $127.00 target price (up previously from $124.00) on shares of Duke Energy in a report on Friday, July 11th. Barclays lowered their price target on shares of Duke Energy from $123.00 to $122.00 and set an "overweight" rating on the stock in a report on Tuesday, July 1st. Citigroup raised their target price on shares of Duke Energy from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Morgan Stanley decreased their price target on Duke Energy from $125.00 to $124.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. Finally, The Goldman Sachs Group set a $132.00 price target on Duke Energy in a research note on Tuesday, July 1st. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $128.31.

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.