Duke Energy Corporation (NYSE:DUK) Shares Bought by Empower Advisory Group LLC

Key Points

• Empower Advisory Group LLC increased its stake in Duke Energy by 3.2% during the first quarter, owning approximately 1,196,214 shares valued at $145.9 million.
• Duke Energy reported a quarterly EPS of $1.76, surpassing analysts' expectations and reflecting a 7.5% increase in revenue compared to the previous year.
• The company declared a quarterly dividend increase to $1.065, reflecting a yield of 3.4%, set to be paid on September 16th.

Empower Advisory Group LLC lifted its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,196,214 shares of the utilities provider's stock after acquiring an additional 37,399 shares during the period. Empower Advisory Group LLC owned approximately 0.15% of Duke Energy worth $145,902,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in shares of Duke Energy by 14,268.8% during the 1st quarter. GAMMA Investing LLC now owns 1,663,183 shares of the utilities provider's stock valued at $202,858,000 after purchasing an additional 1,651,608 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Duke Energy by 14.8% during the fourth quarter. Nuveen Asset Management LLC now owns 4,838,705 shares of the utilities provider's stock valued at $521,322,000 after purchasing an additional 625,008 shares during the period. Zimmer Partners LP grew its holdings in shares of Duke Energy by 40.6% in the fourth quarter. Zimmer Partners LP now owns 2,027,600 shares of the utilities provider's stock worth $218,454,000 after acquiring an additional 585,600 shares during the period. Northern Trust Corp boosted its holdings in shares of Duke Energy by 6.7% in the fourth quarter. Northern Trust Corp now owns 8,001,073 shares of the utilities provider's stock worth $862,036,000 after buying an additional 499,652 shares during the last quarter. Finally, Two Sigma Advisers LP purchased a new stake in shares of Duke Energy in the 4th quarter worth $51,435,000. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Price Performance

Shares of DUK stock traded up $0.61 during trading hours on Thursday, reaching $125.82. The company had a trading volume of 2,831,941 shares, compared to its average volume of 3,175,662. Duke Energy Corporation has a 12-month low of $105.20 and a 12-month high of $127.85. The company has a market capitalization of $97.84 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 3.03 and a beta of 0.36. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.50 and a current ratio of 0.66. The stock has a fifty day moving average of $118.08 and a 200-day moving average of $117.37.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $1.25 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.04). The business had revenue of $7.51 billion during the quarter, compared to analyst estimates of $7.07 billion. Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. The business's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the company earned $1.18 EPS. On average, equities analysts anticipate that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Increases Dividend

The company 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. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from Duke Energy's previous quarterly dividend of $1.05. This represents a $4.26 annualized dividend and a dividend yield of 3.4%. Duke Energy's dividend payout ratio is currently 67.97%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Duke Energy from $127.00 to $138.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Barclays lowered their target price on Duke Energy from $123.00 to $122.00 and set an "overweight" rating for the company in a research report on Tuesday, July 1st. JPMorgan Chase & Co. raised their price objective on Duke Energy from $122.00 to $127.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Morgan Stanley cut their price objective on 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. Finally, Scotiabank upped their target price on Duke Energy from $120.00 to $128.00 and gave the stock a "sector perform" rating in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $128.31.

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.