Koss Olinger Consulting LLC Takes Position in Duke Energy Corporation (NYSE:DUK)

Key Points

• Koss Olinger Consulting LLC has acquired a new position in Duke Energy, purchasing 2,413 shares valued at approximately $294,000 during the first quarter.
• Duke Energy recently announced an increase in its quarterly dividend to $1.065, yielding 3.4%, with the payout expected to be distributed on September 16th to shareholders of record.
• The company reported a slight earnings miss for the recent quarter, with EPS of $1.25 compared to the consensus estimate of $1.29, but did see a revenue increase to $7.51 billion which surpassed analyst expectations.

Koss Olinger Consulting LLC bought a new position in shares of Duke Energy Corporation (NYSE:DUK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,413 shares of the utilities provider's stock, valued at approximately $294,000.

Several other institutional investors have also recently made changes to their positions in DUK. Brighton Jones LLC boosted its position in Duke Energy by 11.6% in the 4th quarter. Brighton Jones LLC now owns 6,754 shares of the utilities provider's stock worth $728,000 after purchasing an additional 700 shares in the last quarter. Heritage Trust Co purchased a new position in shares of Duke Energy during the 4th quarter valued at approximately $266,000. Townsquare Capital LLC lifted its stake in shares of Duke Energy by 4.5% in the 4th quarter. Townsquare Capital LLC now owns 119,758 shares of the utilities provider's stock valued at $12,903,000 after purchasing an additional 5,166 shares during the period. Sagespring Wealth Partners LLC purchased a new stake in Duke Energy during the fourth quarter worth $2,636,000. Finally, Advisors Capital Management LLC grew its position in Duke Energy by 1.5% during the fourth quarter. Advisors Capital Management LLC now owns 376,321 shares of the utilities provider's stock valued at $40,545,000 after buying an additional 5,462 shares during the period. Hedge funds and other institutional investors own 65.31% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on DUK. UBS Group reiterated a "neutral" rating and issued a $127.00 price objective (up previously from $124.00) on shares of Duke Energy in a research report on Friday, July 11th. Raymond James Financial assumed coverage on Duke Energy in a report on Friday, June 13th. They issued a "market perform" rating for the company. Scotiabank increased their price target on Duke Energy from $120.00 to $128.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 6th. Citigroup boosted their price objective on Duke Energy from $130.00 to $142.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley decreased their target price on Duke Energy from $125.00 to $124.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 18th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Duke Energy currently has an average rating of "Moderate Buy" and a consensus price target of $129.20.

Duke Energy Stock Down 0.5%

DUK stock opened at $125.36 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.42 and a debt-to-equity ratio of 1.55. The firm has a 50-day moving average of $118.24 and a two-hundred day moving average of $117.59. Duke Energy Corporation has a 12 month low of $105.20 and a 12 month high of $127.85. The company has a market cap of $97.48 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 3.02 and a beta of 0.36.

Duke Energy (NYSE:DUK - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $1.25 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.04). The company had revenue of $7.51 billion during the quarter, compared to analyst estimates of $7.07 billion. Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. Duke Energy's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.18 EPS. As a group, analysts forecast that Duke Energy Corporation will post 6.33 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 Tuesday, September 16th. Investors of record on Friday, August 15th will be issued a $1.065 dividend. This is an increase from Duke Energy's previous quarterly dividend of $1.05. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, August 15th. Duke Energy's payout ratio is currently 67.97%.

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.

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