Eagle Global Advisors LLC Invests $1.37 Million in Duke Energy Corporation (NYSE:DUK)

Key Points

• Eagle Global Advisors LLC has acquired a new stake in Duke Energy, purchasing 11,190 shares valued at approximately $1.37 million during the first quarter.
• Multiple analysts have raised their price targets for Duke Energy, with Wells Fargo increasing it from $127.00 to $138.00 and Citigroup from $130.00 to $142.00, reflecting strong investor confidence.
• Duke Energy has announced a quarterly dividend increase to $1.065 per share, up from the previous $1.05, demonstrating the company’s commitment to returning value to shareholders.

Eagle Global Advisors LLC purchased a new stake in shares of Duke Energy Corporation (NYSE:DUK - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,190 shares of the utilities provider's stock, valued at approximately $1,365,000.

A number of other large investors have also made changes to their positions in DUK. Cypress Capital Group grew its holdings in Duke Energy by 50.0% during the 1st quarter. Cypress Capital Group now owns 29,435 shares of the utilities provider's stock valued at $3,590,000 after buying an additional 9,815 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its holdings in Duke Energy by 4.9% during the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 5,810 shares of the utilities provider's stock valued at $704,000 after buying an additional 269 shares during the period. Meridian Wealth Management LLC raised its holdings in Duke Energy by 2.5% during the 1st quarter. Meridian Wealth Management LLC now owns 14,033 shares of the utilities provider's stock valued at $1,712,000 after buying an additional 340 shares during the period. Independent Advisor Alliance increased its stake in Duke Energy by 0.9% in the first quarter. Independent Advisor Alliance now owns 135,059 shares of the utilities provider's stock worth $16,473,000 after purchasing an additional 1,191 shares during the period. Finally, Linscomb Wealth Inc. increased its stake in Duke Energy by 1.1% in the first quarter. Linscomb Wealth Inc. now owns 89,931 shares of the utilities provider's stock worth $10,969,000 after purchasing an additional 1,020 shares during the period. 65.31% of the stock is currently owned by institutional investors.

Duke Energy Trading Down 0.8%

NYSE:DUK traded down $0.94 on Friday, reaching $122.26. The company's stock had a trading volume of 4,006,872 shares, compared to its average volume of 3,595,607. Duke Energy Corporation has a 12-month low of $105.20 and a 12-month high of $127.85. The company has a quick ratio of 0.42, a current ratio of 0.66 and a debt-to-equity ratio of 1.55. The firm has a market cap of $95.07 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 3.03 and a beta of 0.36. The stock has a 50 day moving average price of $118.93 and a 200 day moving average price of $117.88.

Duke Energy (NYSE:DUK - Get Free Report) last posted its earnings results 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 prior year, the firm earned $1.18 EPS. Duke Energy's revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts anticipate 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 $1.065 dividend. The ex-dividend date is Friday, August 15th. This represents a $4.26 annualized dividend and a dividend yield of 3.5%. This is a boost from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's dividend payout ratio (DPR) is presently 67.97%.

Insiders Place Their Bets

In other Duke Energy news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $124.26, for a total transaction of $832,542.00. Following the sale, the executive vice president owned 46,422 shares in the company, valued at $5,768,397.72. This represents a 12.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DUK shares. Raymond James Financial started coverage on Duke Energy in a research note on Friday, June 13th. They issued a "market perform" rating on the stock. Citigroup increased their price target on Duke Energy from $130.00 to $142.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Wells Fargo & Company increased their price target on Duke Energy from $127.00 to $138.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Scotiabank increased their price target on Duke Energy from $120.00 to $128.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 6th. Finally, UBS Group reissued a "neutral" rating and set a $127.00 price target (up previously from $124.00) on shares of Duke Energy in a research report on Friday, July 11th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $129.80.

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.