Liberty Wealth Management LLC Increases Holdings in Duke Energy Corporation (NYSE:DUK)

Key Points

• Liberty Wealth Management LLC increased its holdings in Duke Energy Corporation by 733.9% in Q1, now owning 16,812 shares worth approximately $2.05 million.
• Duke Energy recently announced a quarterly dividend increase to $1.065 per share, representing an annualized dividend of $4.26 and a yield of 3.5%.
• Analysts have given Duke Energy a consensus rating of "Moderate Buy" with an average price target of $127.25, with ten analysts recommending a buy.

Liberty Wealth Management LLC boosted its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 733.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,812 shares of the utilities provider's stock after acquiring an additional 14,796 shares during the period. Liberty Wealth Management LLC's holdings in Duke Energy were worth $2,051,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vermillion Wealth Management Inc. purchased a new position in shares of Duke Energy in the 4th quarter worth about $27,000. Wayfinding Financial LLC purchased a new position in shares of Duke Energy in the 1st quarter worth $27,000. N.E.W. Advisory Services LLC purchased a new stake in Duke Energy in the first quarter worth about $27,000. Mattson Financial Services LLC bought a new position in Duke Energy in the 4th quarter worth approximately $28,000. Finally, Redwood Park Advisors LLC bought a new position in Duke Energy during the fourth quarter valued at $36,000. 65.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DUK has been the topic of several recent research reports. UBS Group reiterated a "neutral" rating and set a $127.00 target price (up from $124.00) on shares of Duke Energy in a report on Friday, July 11th. Wells Fargo & Company increased their price objective on Duke Energy from $127.00 to $138.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Morgan Stanley reduced 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. Raymond James Financial began coverage on Duke Energy in a research note on Friday, June 13th. They set a "market perform" rating for the company. Finally, BMO Capital Markets lifted their price target on shares of Duke Energy from $131.00 to $132.00 and gave the stock an "outperform" rating in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Duke Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.31.

Duke Energy Price Performance

Duke Energy stock traded up $0.61 during trading hours on Thursday, hitting $125.82. 2,800,196 shares of the stock were exchanged, compared to its average volume of 3,616,687. The stock has a market capitalization of $97.79 billion, a P/E ratio of 20.46, a P/E/G ratio of 3.00 and a beta of 0.36. Duke Energy Corporation has a 12 month low of $105.20 and a 12 month high of $127.85. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.50 and a current ratio of 0.66. The business's 50-day moving average is $117.87 and its two-hundred day moving average is $117.26.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $1.25 EPS for the quarter, missing analysts' consensus estimates 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%. The firm's quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $1.18 EPS. Equities research analysts expect that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be paid a dividend of $1.065 per share. This represents a $4.26 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, August 15th. This is a positive change from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's dividend payout ratio is currently 69.27%.

Duke Energy 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.