Formidable Asset Management LLC Reduces Stock Position in Duke Energy Corporation (NYSE:DUK)

Formidable Asset Management LLC lowered its holdings in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 17.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,650 shares of the utilities provider's stock after selling 2,403 shares during the period. Formidable Asset Management LLC's holdings in Duke Energy were worth $1,421,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DUK. Allegiance Financial Group Advisory Services LLC bought a new stake in Duke Energy during the 1st quarter valued at about $292,000. Transce3nd LLC increased its position in shares of Duke Energy by 3.7% during the first quarter. Transce3nd LLC now owns 4,215 shares of the utilities provider's stock valued at $514,000 after acquiring an additional 150 shares in the last quarter. Richard C. Young & CO. LTD. raised its holdings in Duke Energy by 3.1% in the 1st quarter. Richard C. Young & CO. LTD. now owns 41,010 shares of the utilities provider's stock worth $5,002,000 after acquiring an additional 1,225 shares during the last quarter. Forte Capital LLC ADV lifted its position in Duke Energy by 2.5% in the 1st quarter. Forte Capital LLC ADV now owns 23,197 shares of the utilities provider's stock valued at $2,829,000 after acquiring an additional 569 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in Duke Energy by 13.6% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 64,222 shares of the utilities provider's stock valued at $7,833,000 after purchasing an additional 7,699 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company's stock.

Duke Energy Stock Performance

NYSE:DUK traded up $0.93 during mid-day trading on Friday, hitting $118.39. 2,475,586 shares of the company traded hands, compared to its average volume of 3,470,335. The stock's fifty day moving average price is $116.43 and its 200-day moving average price is $116.08. 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 Corporation has a one year low of $105.20 and a one year high of $125.27. The firm has a market cap of $92.02 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 2.96 and a beta of 0.37.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $1.76 EPS for the quarter, beating the consensus estimate of $1.59 by $0.17. The business had revenue of $8.25 billion for the quarter, compared to the consensus estimate of $7.70 billion. Duke Energy had a return on equity of 9.88% and a net margin of 15.40%. The business's revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.44 earnings per share. Research 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be issued a dividend of $1.065 per share. 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 3.60%. This is a boost from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's payout ratio is presently 70.65%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wells Fargo & Company upped their price target on Duke Energy from $127.00 to $138.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. boosted their target price on Duke Energy from $122.00 to $127.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Citigroup raised their price target 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. Morgan Stanley decreased their price objective on shares of Duke Energy from $125.00 to $124.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. Finally, UBS Group restated a "neutral" rating and issued a $127.00 target price (up previously from $124.00) on shares of Duke Energy in a report on Friday, July 11th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Duke Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.25.

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.