Empirical Financial Services LLC d.b.a. Empirical Wealth Management Raises Stock Position in Duke Energy Corporation (NYSE:DUK)

Key Points

• Empirical Financial Services LLC increased its holdings in Duke Energy by 448.6% in Q1, owning 22,609 shares worth approximately $2.76 million.
• Duke Energy recently announced a quarterly dividend of $1.065 per share, a rise from the previous dividend, reflecting a 3.5% yield.
• Analysts have set an average price target of $127.25 for Duke Energy, with ten analysts rating it as a buy and seven as a hold.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Duke Energy Corporation (NYSE:DUK - Free Report) by 448.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,609 shares of the utilities provider's stock after buying an additional 18,488 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Duke Energy were worth $2,758,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. N.E.W. Advisory Services LLC bought a new position in shares of Duke Energy in the first quarter worth about $27,000. Wayfinding Financial LLC acquired a new position in Duke Energy during the 1st quarter worth $27,000. Mattson Financial Services LLC bought a new stake in shares of Duke Energy during the 4th quarter valued at $28,000. Vermillion Wealth Management Inc. bought a new stake in shares of Duke Energy in the 4th quarter valued at $27,000. Finally, American National Bank & Trust bought a new position in Duke Energy during the 1st quarter worth about $36,000. Institutional investors and hedge funds own 65.31% of the company's stock.

Duke Energy Trading Up 1.1%

Shares of NYSE:DUK traded up $1.33 on Friday, hitting $122.97. The company had a trading volume of 4,495,848 shares, compared to its average volume of 2,576,647. Duke Energy Corporation has a 1 year low of $105.20 and a 1 year high of $125.27. The firm has a market capitalization of $95.58 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 2.97 and a beta of 0.36. The firm's 50-day simple moving average is $117.35 and its two-hundred day simple moving average is $117.00. The company has a quick ratio of 0.50, a current ratio of 0.77 and a debt-to-equity ratio of 1.57.

Duke Energy (NYSE:DUK - Get Free Report) last announced its earnings results on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.17. Duke Energy had a net margin of 15.40% and a return on equity of 9.88%. The company had revenue of $8.25 billion during the quarter, compared to analyst estimates of $7.70 billion. During the same period in the previous year, the business posted $1.44 earnings per share. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. Equities analysts anticipate that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be given a dividend of $1.065 per share. This is a positive change from Duke Energy's previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.26 dividend on an annualized basis and a yield of 3.5%. Duke Energy's payout ratio is 69.32%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DUK. Barclays cut their target price on shares of Duke Energy from $123.00 to $122.00 and set an "overweight" rating for the company in a research note on Tuesday, July 1st. Wells Fargo & Company lifted their price target on shares of Duke Energy from $127.00 to $138.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Citigroup boosted their target price on shares of Duke Energy from $130.00 to $142.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. boosted their target price on shares of Duke Energy from $122.00 to $127.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Finally, Morgan Stanley dropped their target price on shares of 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $127.25.

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.