Edgestream Partners L.P. Increases Stock Position in Duke Energy Corporation (NYSE:DUK)

Edgestream Partners L.P. grew its stake in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 1,741.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 59,769 shares of the utilities provider's stock after acquiring an additional 56,524 shares during the quarter. Edgestream Partners L.P.'s holdings in Duke Energy were worth $7,290,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Duke Energy by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 72,885,939 shares of the utilities provider's stock worth $7,852,731,000 after purchasing an additional 779,054 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Duke Energy by 0.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 18,097,796 shares of the utilities provider's stock worth $1,949,857,000 after buying an additional 124,863 shares during the period. Geode Capital Management LLC raised its stake in Duke Energy by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 17,873,788 shares of the utilities provider's stock worth $1,930,833,000 after buying an additional 385,612 shares during the last quarter. Royal Bank of Canada lifted its holdings in Duke Energy by 4.4% in the fourth quarter. Royal Bank of Canada now owns 8,503,503 shares of the utilities provider's stock valued at $916,168,000 after buying an additional 357,967 shares during the period. Finally, Northern Trust Corp boosted its position in Duke Energy by 6.7% during the fourth quarter. Northern Trust Corp now owns 8,001,073 shares of the utilities provider's stock valued at $862,036,000 after acquiring an additional 499,652 shares during the last quarter. 65.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DUK has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Duke Energy from $122.00 to $127.00 and gave the stock a "neutral" rating in a research report on Tuesday. Raymond James Financial began coverage on Duke Energy in a report on Friday, June 13th. They issued a "market perform" rating for the company. BMO Capital Markets cut their price target on Duke Energy from $128.00 to $123.00 and set an "outperform" rating on the stock in a report on Thursday, April 10th. Barclays reduced their price objective on shares of Duke Energy from $123.00 to $122.00 and set an "overweight" rating for the company in a research report on Tuesday, July 1st. 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 report 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $127.25.

Duke Energy Stock Up 0.6%

DUK traded up $0.73 during trading on Wednesday, hitting $117.83. 2,160,639 shares of the company's stock were exchanged, compared to its average volume of 3,469,533. Duke Energy Corporation has a fifty-two week low of $105.20 and a fifty-two week high of $125.27. The stock has a market cap of $91.58 billion, a P/E ratio of 19.54, a PEG ratio of 2.92 and a beta of 0.37. The business's 50 day moving average is $116.52 and its two-hundred day moving average is $115.88. 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 posted its earnings results on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.59 by $0.17. The company had revenue of $8.25 billion for the quarter, compared to analyst estimates of $7.70 billion. Duke Energy had a net margin of 15.40% and a return on equity of 9.88%. The firm's revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.44 EPS. As a group, equities analysts expect that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The business also recently announced 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 3.62%. The ex-dividend date is Friday, August 15th. This is a positive change from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's dividend payout ratio (DPR) is currently 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.