Duke Energy Corporation (NYSE:DUK) Shares Acquired by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. increased its stake in Duke Energy by 81.5%, owning 160,664 shares after purchasing an additional 72,137 shares, valuing its holdings at approximately $19.6 million.
• Duke Energy recently reported earnings of $1.76 per share, exceeding estimates, with revenue up 7.5% year-over-year, totaling $8.25 billion.
• The company announced a quarterly dividend increase to $1.065 per share, which reflects an annualized yield of 3.4% with a dividend payout ratio of 69.32%.

iA Global Asset Management Inc. lifted its position in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 81.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,664 shares of the utilities provider's stock after acquiring an additional 72,137 shares during the quarter. iA Global Asset Management Inc.'s holdings in Duke Energy were worth $19,596,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC purchased a new position in shares of Duke Energy during the 1st quarter worth approximately $27,000. Wayfinding Financial LLC acquired a new position in Duke Energy during the first quarter worth $27,000. Mattson Financial Services LLC purchased a new position in Duke Energy in the fourth quarter worth $28,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Duke Energy during the 4th quarter worth $27,000. Finally, American National Bank & Trust purchased a new stake in shares of Duke Energy during the 1st quarter worth $36,000. 65.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DUK. BMO Capital Markets increased their price target on shares of Duke Energy from $131.00 to $132.00 and gave the company an "outperform" rating in a report on Wednesday. UBS Group reaffirmed a "neutral" rating and issued a $127.00 target price (up from $124.00) on shares of Duke Energy in a report on Friday, July 11th. Scotiabank boosted their price target on Duke Energy from $120.00 to $128.00 and gave the stock a "sector perform" rating in a research note on Wednesday. The Goldman Sachs Group set a $132.00 price target on Duke Energy in a report on Tuesday, July 1st. Finally, Morgan Stanley reduced their price objective on Duke Energy from $125.00 to $124.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. Seven equities 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 presently has a consensus rating of "Moderate Buy" and an average price target of $128.31.

Duke Energy Price Performance

DUK stock traded up $0.61 during trading on Thursday, hitting $125.82. The stock had a trading volume of 2,831,941 shares, compared to its average volume of 3,175,662. Duke Energy Corporation has a 1-year low of $105.20 and a 1-year high of $127.85. The stock has a market cap of $97.84 billion, a price-to-earnings ratio of 20.46, a price-to-earnings-growth ratio of 3.03 and a beta of 0.36. The company's 50 day moving average price is $118.08 and its two-hundred day moving average price is $117.37. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.50 and a current ratio of 0.66.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.04). The firm had revenue of $7.51 billion for the quarter, compared to analysts' expectations of $7.07 billion. Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. The business's quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.18 EPS. On average, sell-side analysts forecast that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be paid a $1.065 dividend. The ex-dividend date is Friday, August 15th. This is an increase from Duke Energy's previous quarterly dividend of $1.05. This represents a $4.26 annualized dividend and a yield of 3.4%. Duke Energy's payout ratio is currently 67.97%.

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.