Precedent Wealth Partners LLC Purchases 2,215 Shares of Duke Energy Co. (NYSE:DUK)

Precedent Wealth Partners LLC grew its position in shares of Duke Energy Co. (NYSE:DUK - Free Report) by 22.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,243 shares of the utilities provider's stock after buying an additional 2,215 shares during the quarter. Precedent Wealth Partners LLC's holdings in Duke Energy were worth $1,493,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vermillion Wealth Management Inc. acquired a new position in Duke Energy in the fourth quarter worth $27,000. Parkworth Wealth Management Inc. acquired a new position in Duke Energy during the 4th quarter worth about $28,000. Mattson Financial Services LLC bought a new stake in Duke Energy during the 4th quarter worth about $28,000. WealthTrak Capital Management LLC acquired a new stake in Duke Energy in the 4th quarter valued at about $30,000. Finally, Sierra Ocean LLC bought a new stake in shares of Duke Energy during the fourth quarter valued at approximately $31,000. Institutional investors own 65.31% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on DUK shares. JPMorgan Chase & Co. lifted their price objective on Duke Energy from $114.00 to $121.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 11th. Jefferies Financial Group boosted their price target on shares of Duke Energy from $129.00 to $132.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Wells Fargo & Company raised their price objective on shares of Duke Energy from $127.00 to $138.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Morgan Stanley cut their price target on Duke Energy from $126.00 to $125.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 22nd. Finally, Guggenheim lifted their price objective on Duke Energy from $132.00 to $135.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Duke Energy has a consensus rating of "Moderate Buy" and a consensus target price of $125.81.

Duke Energy Stock Down 1.3%

DUK traded down $1.55 during trading on Monday, hitting $115.31. The company had a trading volume of 3,275,993 shares, compared to its average volume of 3,457,793. The firm's 50-day moving average price is $118.15 and its 200 day moving average price is $114.91. The company has a market capitalization of $89.63 billion, a PE ratio of 20.19, a PEG ratio of 2.79 and a beta of 0.37. The company has a quick ratio of 0.44, a current ratio of 0.67 and a debt-to-equity ratio of 1.52. Duke Energy Co. has a one year low of $99.21 and a one year high of $125.27.

Duke Energy (NYSE:DUK - Get Free Report) last released its earnings results on Tuesday, May 6th. The utilities provider reported $1.76 EPS for the quarter, beating the consensus estimate of $1.59 by $0.17. Duke Energy had a return on equity of 9.50% and a net margin of 14.90%. The firm had revenue of $8.25 billion for the quarter, compared to analysts' expectations of $7.70 billion. During the same quarter in the previous year, the business posted $1.44 EPS. The business's quarterly revenue was up 7.5% compared to the same quarter last year. As a group, equities analysts expect that Duke Energy Co. will post 6.33 earnings per share for the current year.

Duke Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 16th will be issued a dividend of $1.045 per share. The ex-dividend date is Friday, May 16th. This represents a $4.18 annualized dividend and a yield of 3.62%. Duke Energy's payout ratio is presently 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.