Concord Wealth Partners Purchases 7,138 Shares of Duke Energy Corporation (NYSE:DUK)

Concord Wealth Partners boosted its holdings in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 113.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,412 shares of the utilities provider's stock after acquiring an additional 7,138 shares during the quarter. Concord Wealth Partners' holdings in Duke Energy were worth $1,636,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in DUK. Brighton Jones LLC lifted its position in shares of Duke Energy by 11.6% in the 4th quarter. Brighton Jones LLC now owns 6,754 shares of the utilities provider's stock worth $728,000 after purchasing an additional 700 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Duke Energy in the 4th quarter worth approximately $282,000. Axxcess Wealth Management LLC lifted its position in shares of Duke Energy by 10.4% in the 4th quarter. Axxcess Wealth Management LLC now owns 32,254 shares of the utilities provider's stock worth $3,475,000 after purchasing an additional 3,042 shares during the period. PDS Planning Inc lifted its position in shares of Duke Energy by 3.9% in the 4th quarter. PDS Planning Inc now owns 3,378 shares of the utilities provider's stock worth $364,000 after purchasing an additional 127 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in shares of Duke Energy by 8.4% in the 4th quarter. Advisors Asset Management Inc. now owns 41,504 shares of the utilities provider's stock worth $4,472,000 after purchasing an additional 3,201 shares during the period. 65.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

DUK has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of Duke Energy from $125.00 to $124.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 18th. Wells Fargo & Company boosted their price target on shares of Duke Energy from $127.00 to $138.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. UBS Group restated a "neutral" rating and issued a $127.00 price target (up previously from $124.00) on shares of Duke Energy in a research report on Friday, July 11th. JPMorgan Chase & Co. boosted their price target on shares of Duke Energy from $122.00 to $127.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, Barclays dropped their target price on shares of Duke Energy from $123.00 to $122.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 1st. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Duke Energy has a consensus rating of "Moderate Buy" and an average price target of $127.25.

Duke Energy Stock Up 0.8%

DUK stock traded up $0.93 during midday trading on Friday, reaching $118.39. 2,475,586 shares of the company's stock traded hands, compared to its average volume of 3,461,813. The company has a market cap of $92.02 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 2.94 and a beta of 0.37. The firm's fifty day moving average price is $116.47 and its 200-day moving average price is $115.95. The company has a quick ratio of 0.50, a current ratio of 0.77 and a debt-to-equity ratio of 1.57. Duke Energy Corporation has a 52 week low of $105.20 and a 52 week high of $125.27.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $1.76 EPS for the quarter, beating analysts' consensus estimates of $1.59 by $0.17. The business 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%. Duke Energy's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.44 EPS. As a group, sell-side analysts forecast that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be paid a dividend of $1.065 per share. This represents a $4.26 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date is Friday, August 15th. This is a positive change from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's payout ratio is 69.32%.

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.