Mitsubishi UFJ Asset Management Co. Ltd. Grows Stake in Duke Energy Corporation (NYSE:DUK)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Duke Energy by 13.1% during the first quarter, owning over 1.39 million shares worth approximately $169.6 million.
• Duke Energy recently declared a quarterly dividend of $1.065 per share, marking an increase from the previous dividend of $1.05, with a yield of 3.4%.
• After its latest earnings report, Duke Energy's stock has an average target price of $129.20 and is rated as a "Moderate Buy" by analysts.

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Duke Energy Corporation (NYSE:DUK - Free Report) by 13.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,390,741 shares of the utilities provider's stock after purchasing an additional 161,414 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Duke Energy worth $169,629,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. N.E.W. Advisory Services LLC acquired a new position in shares of Duke Energy in the 1st quarter valued at $27,000. Wayfinding Financial LLC acquired a new position in shares of Duke Energy in the 1st quarter valued at $27,000. Mattson Financial Services LLC acquired a new position in shares of Duke Energy in the 4th quarter valued at $28,000. Vermillion Wealth Management Inc. acquired a new position in shares of Duke Energy in the 4th quarter valued at $27,000. Finally, American National Bank & Trust acquired a new position in shares of Duke Energy in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 65.31% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on DUK. Morgan Stanley decreased 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. Raymond James Financial began coverage on Duke Energy in a research note on Friday, June 13th. They set a "market perform" rating on the stock. JPMorgan Chase & Co. increased their target price on Duke Energy from $122.00 to $127.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. UBS Group reissued a "neutral" rating and set a $127.00 target price (up previously from $124.00) on shares of Duke Energy in a research note on Friday, July 11th. Finally, Scotiabank increased their target price on Duke Energy from $120.00 to $128.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 6th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Duke Energy has an average rating of "Moderate Buy" and a consensus target price of $129.20.

Duke Energy Stock Down 1.3%

DUK stock traded down $1.64 during mid-day trading on Tuesday, reaching $123.92. The company had a trading volume of 1,211,873 shares, compared to its average volume of 3,591,958. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.42 and a current ratio of 0.66. The company has a market capitalization of $96.36 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 3.02 and a beta of 0.36. The firm has a fifty day simple moving average of $118.40 and a 200 day simple moving average of $117.70. Duke Energy Corporation has a fifty-two week low of $105.20 and a fifty-two week high of $127.85.

Duke Energy (NYSE:DUK - Get Free Report) last released its quarterly earnings data 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 net margin of 15.51% and a return on equity of 9.85%. The business had revenue of $7.51 billion during the quarter, compared to analysts' expectations of $7.07 billion. During the same quarter in the previous year, the company posted $1.18 EPS. The company's revenue was up 4.7% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be issued a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Friday, August 15th. This is an increase from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's dividend payout ratio (DPR) is currently 67.97%.

Duke Energy 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.