New Age Alpha Advisors LLC Cuts Holdings in Duke Energy Corporation (NYSE:DUK)

Key Points

• New Age Alpha Advisors LLC reduced its holdings in Duke Energy by 14.0% in the first quarter, owning 87,477 shares worth approximately $10.67 million after selling 14,212 shares.
• Duke Energy announced an increase in its quarterly dividend to $1.065 per share, up from $1.05, with a 3.4% yield and a projected annual dividend of $4.26.
• The company's latest earnings report showed an EPS of $1.76, exceeding analysts' estimates, with revenue of $8.25 billion, up 7.5% year-over-year.

New Age Alpha Advisors LLC decreased its position in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 14.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,477 shares of the utilities provider's stock after selling 14,212 shares during the period. New Age Alpha Advisors LLC's holdings in Duke Energy were worth $10,670,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Toth Financial Advisory Corp grew its stake in shares of Duke Energy by 31.6% in the 1st quarter. Toth Financial Advisory Corp now owns 346 shares of the utilities provider's stock valued at $42,000 after buying an additional 83 shares during the period. Reyes Financial Architecture Inc. lifted its holdings in shares of Duke Energy by 4.8% in the 1st quarter. Reyes Financial Architecture Inc. now owns 1,827 shares of the utilities provider's stock worth $223,000 after acquiring an additional 83 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in Duke Energy by 2.8% during the 1st quarter. Revolve Wealth Partners LLC now owns 3,034 shares of the utilities provider's stock worth $370,000 after buying an additional 84 shares in the last quarter. Lokken Investment Group LLC lifted its holdings in Duke Energy by 3.3% during the 1st quarter. Lokken Investment Group LLC now owns 2,633 shares of the utilities provider's stock worth $321,000 after buying an additional 84 shares in the last quarter. Finally, Sheets Smith Wealth Management lifted its holdings in Duke Energy by 0.3% during the 1st quarter. Sheets Smith Wealth Management now owns 27,517 shares of the utilities provider's stock worth $3,356,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 65.31% of the company's stock.

Duke Energy Stock Up 1.2%

Shares of NYSE DUK opened at $124.39 on Tuesday. 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 Corporation has a 52 week low of $105.20 and a 52 week high of $125.27. The firm has a 50-day moving average price of $117.50 and a 200 day moving average price of $117.16. The stock has a market capitalization of $96.68 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 2.97 and a beta of 0.36.

Duke Energy (NYSE:DUK - Get Free Report) last announced its earnings results on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.17. The company had revenue of $8.25 billion during the quarter, compared to analysts' expectations of $7.70 billion. Duke Energy had a net margin of 15.40% and a return on equity of 9.88%. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.44 earnings per share. Equities research analysts anticipate 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. Shareholders of record on Friday, August 15th will be given a dividend of $1.065 per share. 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 dividend on an annualized basis and a yield of 3.4%. Duke Energy's dividend payout ratio (DPR) is presently 69.32%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group set a $132.00 target price on shares of Duke Energy in a report on Tuesday, July 1st. UBS Group reaffirmed a "neutral" rating and issued a $127.00 target price (up from $124.00) on shares of Duke Energy in a research report on Friday, July 11th. Wells Fargo & Company raised their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of Duke Energy from $122.00 to $127.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Finally, Citigroup raised their target price on shares of Duke Energy from $130.00 to $142.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.25.

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.

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