Integrated Wealth Concepts LLC Purchases 14,784 Shares of Duke Energy Corporation $DUK

Key Points

• Integrated Wealth Concepts LLC increased its Duke Energy stake by 45.5% in the second quarter, purchasing 14,784 additional shares for a total holding of 47,241 shares worth approximately $5.98 million. Institutional investors collectively own 65.31% of the company.
• Duke Energy reported quarterly EPS of $1.43, exceeding analyst expectations of $1.30, while revenue reached $7.59 billion. The company also raised its quarterly dividend from $1.06 to $1.085 per share, equivalent to a 3.6% annualized yield.
• Analysts maintain a generally positive view, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $137.94, compared with a recent share price of $119.48.

Integrated Wealth Concepts LLC raised its holdings in Duke Energy Corporation (NYSE:DUK - Free Report) by 45.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,241 shares of the utilities provider's stock after buying an additional 14,784 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Duke Energy were worth $5,980,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. World Investment Advisors boosted its stake in shares of Duke Energy by 62.7% in the 4th quarter. World Investment Advisors now owns 42,680 shares of the utilities provider's stock worth $5,003,000 after buying an additional 16,450 shares during the last quarter. Merit Financial Group LLC lifted its stake in shares of Duke Energy by 15.7% in the 2nd quarter. Merit Financial Group LLC now owns 70,388 shares of the utilities provider's stock worth $8,910,000 after purchasing an additional 9,562 shares during the period. Sarasin & Partners LLP lifted its stake in shares of Duke Energy by 15.3% in the 2nd quarter. Sarasin & Partners LLP now owns 1,283,213 shares of the utilities provider's stock worth $162,429,000 after purchasing an additional 170,700 shares during the period. Pinebridge Investments LLC bought a new stake in shares of Duke Energy during the 4th quarter valued at $6,326,000. Finally, SBI Okasan Asset Management Co.Ltd. purchased a new stake in Duke Energy in the fourth quarter worth about $1,316,000. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Stock Up 0.1%

Shares of Duke Energy stock opened at $119.48 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.66 and a quick ratio of 0.43. The stock has a market cap of $93.16 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.78 and a beta of 0.37. The firm's 50-day moving average is $123.98 and its two-hundred day moving average is $126.22. Duke Energy Corporation has a 1 year low of $113.89 and a 1 year high of $134.49.

Duke Energy (NYSE:DUK - Get Free Report) last announced its earnings results on Monday, August 3rd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.13. The business had revenue of $7.59 billion for the quarter, compared to analysts' expectations of $7.66 billion. Duke Energy had a return on equity of 9.78% and a net margin of 15.78%.The business's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. As a group, research analysts expect that Duke Energy Corporation will post 6.72 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th will be issued a $1.085 dividend. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from Duke Energy's previous quarterly dividend of $1.06. This represents a $4.34 dividend on an annualized basis and a yield of 3.6%. Duke Energy's dividend payout ratio is presently 65.17%.

Wall Street Analyst Weigh In

DUK has been the subject of a number of recent analyst reports. BMO Capital Markets dropped their price target on shares of Duke Energy from $134.00 to $132.00 and set an "outperform" rating for the company in a research report on Wednesday, August 5th. BTIG Research reiterated a "buy" rating on shares of Duke Energy in a research note on Thursday, July 23rd. JPMorgan Chase & Co. upped their target price on shares of Duke Energy from $136.00 to $141.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. Truist Financial dropped their price target on Duke Energy from $138.00 to $135.00 and set a "buy" rating for the company in a research note on Monday, August 17th. Finally, Mizuho set a $136.00 price objective on Duke Energy in a report on Wednesday, August 5th. Ten investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, Duke Energy currently has an average rating of "Moderate Buy" and a consensus target price of $137.94.

Duke Energy Company Profile

Duke Energy Corporation is an electric and natural gas utility holding company headquartered in Charlotte, North Carolina. The company generates, transmits, distributes and sells electricity, with a generation portfolio that includes natural gas, nuclear, coal, hydroelectric and renewable energy resources. It also operates natural gas distribution businesses and provides related energy services.

Duke Energy's regulated electric utilities serve residential, commercial and industrial customers across the Carolinas, Florida, Indiana, Ohio and Kentucky.

Want to see what other hedge funds are holding DUK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Duke Energy Corporation (NYSE:DUK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.