Golden State Wealth Management LLC Buys 5,164 Shares of Duke Energy Corporation (NYSE:DUK)

Golden State Wealth Management LLC raised its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 127.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,206 shares of the utilities provider's stock after acquiring an additional 5,164 shares during the period. Golden State Wealth Management LLC's holdings in Duke Energy were worth $1,123,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Toth Financial Advisory Corp lifted its stake in Duke Energy by 31.6% in the 1st quarter. Toth Financial Advisory Corp now owns 346 shares of the utilities provider's stock valued at $42,000 after purchasing an additional 83 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Duke Energy by 2.8% during the first quarter. Revolve Wealth Partners LLC now owns 3,034 shares of the utilities provider's stock worth $370,000 after buying an additional 84 shares during the last quarter. Sheets Smith Wealth Management raised its stake in Duke Energy by 0.3% in the first quarter. Sheets Smith Wealth Management now owns 27,517 shares of the utilities provider's stock valued at $3,356,000 after buying an additional 85 shares during the period. Quent Capital LLC lifted its position in shares of Duke Energy by 3.0% in the first quarter. Quent Capital LLC now owns 2,993 shares of the utilities provider's stock valued at $365,000 after buying an additional 86 shares during the last quarter. Finally, Grandview Asset Management LLC boosted its stake in shares of Duke Energy by 0.6% during the 1st quarter. Grandview Asset Management LLC now owns 14,135 shares of the utilities provider's stock worth $1,724,000 after acquiring an additional 86 shares during the period. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Trading Down 0.8%

DUK opened at $115.99 on Thursday. The stock has a market capitalization of $90.15 billion, a price-to-earnings ratio of 19.24, a P/E/G ratio of 2.92 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. Duke Energy Corporation has a twelve month low of $99.21 and a twelve month high of $125.27. The company has a 50-day simple moving average of $117.72 and a 200 day simple moving average of $114.98.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly 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 during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 EPS. Analysts predict that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 16th were paid a $1.045 dividend. This represents a $4.18 annualized dividend and a yield of 3.60%. The ex-dividend date was Friday, May 16th. Duke Energy's dividend payout ratio (DPR) is presently 69.32%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DUK. UBS Group reaffirmed a "neutral" rating and set a $127.00 price target (up previously from $126.00) on shares of Duke Energy in a report on Monday, June 2nd. JPMorgan Chase & Co. raised their target price on shares of Duke Energy from $114.00 to $121.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 11th. Citigroup upped their price target on shares of Duke Energy from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group upgraded shares of Duke Energy from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $125.00 to $132.00 in a research report on Wednesday. Finally, Wells Fargo & Company boosted their price objective on Duke Energy from $127.00 to $138.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $126.94.

Duke Energy Company 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.

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