Merit Financial Group LLC Increases Position in Duke Energy Co. (NYSE:DUK)

Merit Financial Group LLC lifted its position in shares of Duke Energy Co. (NYSE:DUK - Free Report) by 29.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,693 shares of the utilities provider's stock after buying an additional 9,730 shares during the quarter. Merit Financial Group LLC's holdings in Duke Energy were worth $5,207,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vermillion Wealth Management Inc. acquired a new stake in shares of Duke Energy during the 4th quarter worth approximately $27,000. Parkworth Wealth Management Inc. bought a new stake in Duke Energy in the fourth quarter valued at $28,000. Mattson Financial Services LLC acquired a new position in shares of Duke Energy during the fourth quarter valued at about $28,000. WealthTrak Capital Management LLC bought a new stake in Duke Energy in the 4th quarter valued at about $30,000. Finally, Sierra Ocean LLC acquired a new position in shares of Duke Energy during the fourth quarter worth approximately $31,000. 65.31% of the stock is owned by institutional investors.

Duke Energy Stock Performance

NYSE DUK traded down $0.35 during trading on Thursday, hitting $115.63. 2,442,440 shares of the company's stock traded hands, compared to its average volume of 3,445,098. The business has a 50 day moving average of $118.67 and a 200-day moving average of $114.88. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.44 and a current ratio of 0.67. Duke Energy Co. has a 12-month low of $99.21 and a 12-month high of $125.27. The stock has a market capitalization of $89.88 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 2.79 and a beta of 0.37.

Duke Energy (NYSE:DUK - Get Free Report) last posted its earnings results on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share 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 return on equity of 9.50% and a net margin of 14.90%. The company's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.44 EPS. As a group, equities research analysts anticipate that Duke Energy Co. will post 6.33 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 16th will be issued a $1.045 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $4.18 annualized dividend and a dividend yield of 3.61%. Duke Energy's payout ratio is currently 69.32%.

Analyst Upgrades and Downgrades

DUK has been the topic of several research reports. Citigroup upped their price objective on shares of Duke Energy from $130.00 to $142.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. increased their price objective on Duke Energy from $114.00 to $121.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 11th. Barclays lifted their target price on Duke Energy from $111.00 to $123.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. Wells Fargo & Company increased their price target on Duke Energy from $127.00 to $138.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Finally, Jefferies Financial Group raised their price objective on Duke Energy from $129.00 to $132.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Duke Energy currently has an average rating of "Moderate Buy" and a consensus price target of $125.81.

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.