FourThought Financial Partners LLC Grows Holdings in Duke Energy Corporation (NYSE:DUK)

Key Points

• FourThought Financial Partners LLC increased its holdings in Duke Energy by 15.7%, owning 28,322 shares valued at approximately $3.45 million.
• Numerous institutional investors, including GAMMA Investing LLC and Nuveen Asset Management LLC, have significantly increased their stakes in Duke Energy, contributing to 65.31% of the stock being held by institutional investors.
• Duke Energy announced a quarterly dividend increase to $1.065, with an annualized dividend yield of 3.55%, reflecting a positive change from the previous dividend of $1.05.

FourThought Financial Partners LLC boosted its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 15.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,322 shares of the utilities provider's stock after acquiring an additional 3,836 shares during the period. FourThought Financial Partners LLC's holdings in Duke Energy were worth $3,454,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Vermillion Wealth Management Inc. purchased a new position in Duke Energy in the fourth quarter worth about $27,000. Wayfinding Financial LLC bought a new stake in Duke Energy during the first quarter valued at approximately $27,000. Mattson Financial Services LLC purchased a new position in Duke Energy during the fourth quarter valued at approximately $28,000. WealthTrak Capital Management LLC purchased a new position in Duke Energy during the fourth quarter valued at approximately $30,000. Finally, Hoey Investments Inc. purchased a new position in shares of Duke Energy in the fourth quarter worth $36,000. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on DUK shares. BMO Capital Markets decreased their price target on shares of Duke Energy from $128.00 to $123.00 and set an "outperform" rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. increased their target price on shares of Duke Energy from $122.00 to $127.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. UBS Group reaffirmed a "neutral" rating and issued a $127.00 price objective (up from $124.00) on shares of Duke Energy in a research report on Friday, July 11th. Barclays decreased 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, Wells Fargo & Company increased 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. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, Duke Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.25.

Duke Energy Stock Performance

DUK traded up $1.55 during trading on Wednesday, hitting $121.04. 1,619,382 shares of the company traded hands, compared to its average volume of 3,569,919. The firm has a market cap of $94.08 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 2.94 and a beta of 0.37. The company has a quick ratio of 0.50, a current ratio of 0.77 and a debt-to-equity ratio of 1.57. The stock's fifty day moving average is $117.01 and its 200 day moving average is $116.68. Duke Energy Corporation has a one year low of $105.20 and a one year high of $125.27.

Duke Energy (NYSE:DUK - Get Free Report) last released its earnings results 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 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 quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.44 EPS. As a group, equities analysts predict that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.065 per share. This represents a $4.26 annualized dividend and a dividend yield of 3.52%. This is a boost from Duke Energy's previous quarterly dividend of $1.05. The ex-dividend date is Friday, August 15th. Duke Energy's dividend payout ratio is presently 69.32%.

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.