Duke Energy Corporation (NYSE:DUK) Shares Acquired by TIAA Trust National Association

Key Points

• TIAA Trust National Association has increased its holdings in Duke Energy by 6.6%, owning a total of 154,808 shares valued at approximately $18.88 million.
• Duke Energy has recently declared a quarterly dividend increase to $1.065 per share, resulting in an annualized dividend yield of 3.5%.
• Analysts maintain a generally positive outlook on Duke Energy, with the stock rated as a "Moderate Buy" and an average price target of $127.25.

TIAA Trust National Association lifted its holdings in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 6.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 154,808 shares of the utilities provider's stock after acquiring an additional 9,561 shares during the period. TIAA Trust National Association's holdings in Duke Energy were worth $18,882,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in DUK. Investment Management Corp of Ontario grew its stake in Duke Energy by 212.8% during the 4th quarter. Investment Management Corp of Ontario now owns 79,989 shares of the utilities provider's stock worth $8,618,000 after buying an additional 54,413 shares during the last quarter. Andrew Hill Investment Advisors Inc. grew its stake in Duke Energy by 338.6% during the 1st quarter. Andrew Hill Investment Advisors Inc. now owns 37,763 shares of the utilities provider's stock worth $4,606,000 after buying an additional 29,153 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Duke Energy by 7.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 291,667 shares of the utilities provider's stock worth $35,575,000 after buying an additional 20,942 shares during the last quarter. Pinnacle Financial Partners Inc grew its stake in Duke Energy by 9.9% during the 1st quarter. Pinnacle Financial Partners Inc now owns 127,419 shares of the utilities provider's stock worth $14,451,000 after buying an additional 11,445 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. grew its stake in Duke Energy by 8.1% during the 1st quarter. Beacon Investment Advisory Services Inc. now owns 51,354 shares of the utilities provider's stock worth $6,264,000 after buying an additional 3,837 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays dropped their price target on Duke Energy from $123.00 to $122.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 1st. The Goldman Sachs Group set a $132.00 target price on Duke Energy in a research note on Tuesday, July 1st. BMO Capital Markets lowered their target price on Duke Energy from $128.00 to $123.00 and set an "outperform" rating on the stock in a research note on Thursday, April 10th. UBS Group reiterated a "neutral" rating and issued a $127.00 target price (up from $124.00) on shares of Duke Energy in a research note on Friday, July 11th. Finally, Morgan Stanley lowered their target price 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. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, Duke Energy presently has an average rating of "Moderate Buy" and an average price target of $127.25.

Duke Energy Stock Up 1.1%

Duke Energy stock opened at $122.97 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.77 and a quick ratio of 0.50. Duke Energy Corporation has a 1-year low of $105.20 and a 1-year high of $125.27. The company has a market cap of $95.58 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.97 and a beta of 0.36. The stock's 50 day moving average price is $117.35 and its 200 day moving average price is $117.00.

Duke Energy (NYSE:DUK - Get Free Report) last posted its quarterly 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. Duke Energy had a return on equity of 9.88% and a net margin of 15.40%. The firm had revenue of $8.25 billion for the quarter, compared to the consensus estimate of $7.70 billion. During the same period in the previous year, the business earned $1.44 earnings per share. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. On average, sell-side analysts predict that Duke Energy Corporation will post 6.33 EPS 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. Investors of record on Friday, August 15th will be issued a dividend of $1.065 per share. This is a boost from Duke Energy's previous quarterly dividend of $1.05. This represents a $4.26 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Friday, August 15th. Duke Energy's payout ratio is presently 69.32%.

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.

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