Heritage Wealth Advisors Buys 7,364 Shares of Duke Energy Corporation (NYSE:DUK)

Key Points

• Heritage Wealth Advisors increased its stake in Duke Energy Corporation by 2.3% during the first quarter, owning 324,092 shares valued at approximately $39.5 million.
• Duke Energy plans to increase its quarterly dividend to $1.065 per share, up from $1.05, reflecting a 3.5% dividend yield.
• Analysts have given Duke Energy an average rating of "Moderate Buy" with a target price of $127.25, showing confidence in the stock's growth potential.

Heritage Wealth Advisors lifted its stake in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 324,092 shares of the utilities provider's stock after buying an additional 7,364 shares during the period. Duke Energy comprises approximately 2.0% of Heritage Wealth Advisors' investment portfolio, making the stock its 21st biggest position. Heritage Wealth Advisors' holdings in Duke Energy were worth $39,529,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Royal Bank of Canada increased 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 purchasing an additional 357,967 shares during the period. 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. Nuveen Asset Management LLC boosted its position in Duke Energy by 14.8% during the fourth quarter. Nuveen Asset Management LLC now owns 4,838,705 shares of the utilities provider's stock valued at $521,322,000 after acquiring an additional 625,008 shares during the last quarter. Federated Hermes Inc. boosted its position in Duke Energy by 8.5% during the first quarter. Federated Hermes Inc. now owns 3,476,604 shares of the utilities provider's stock valued at $424,041,000 after acquiring an additional 271,125 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Duke Energy by 9.5% during the first quarter. Envestnet Asset Management Inc. now owns 2,628,423 shares of the utilities provider's stock valued at $320,589,000 after acquiring an additional 228,052 shares during the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Stock Performance

DUK traded up $1.33 on Friday, hitting $122.97. The company's stock had a trading volume of 4,495,848 shares, compared to its average volume of 2,576,647. The company's 50 day simple moving average is $117.35 and its 200-day simple moving average is $117.00. The firm has a market cap of $95.58 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 2.97 and a beta of 0.36. Duke Energy Corporation has a 12 month low of $105.20 and a 12 month high of $125.27. 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 released its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $1.76 EPS for the quarter, topping the consensus estimate 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%. Duke Energy's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $1.44 EPS. Analysts forecast that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be issued a $1.065 dividend. This represents a $4.26 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's payout ratio is 69.32%.

Analyst Upgrades and Downgrades

DUK has been the topic of a number of research analyst reports. Raymond James Financial initiated coverage on shares of Duke Energy in a research report on Friday, June 13th. They set a "market perform" rating on the stock. BMO Capital Markets dropped 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 report on Thursday, April 10th. 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 research report on Wednesday, May 7th. Wells Fargo & Company lifted their target price on shares of Duke Energy from $127.00 to $138.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Finally, UBS Group reaffirmed a "neutral" rating and set a $127.00 price target (up 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 ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $127.25.

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.