Red Door Wealth Management LLC Purchases 4,263 Shares of Duke Energy Corporation (NYSE:DUK)

Red Door Wealth Management LLC raised its stake in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 9.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,572 shares of the utilities provider's stock after buying an additional 4,263 shares during the quarter. Red Door Wealth Management LLC's holdings in Duke Energy were worth $5,802,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Argent Advisors Inc. lifted its holdings in Duke Energy by 2.1% during the first quarter. Argent Advisors Inc. now owns 17,712 shares of the utilities provider's stock worth $2,160,000 after acquiring an additional 363 shares in the last quarter. LifePlan Financial LLC lifted its stake in Duke Energy by 19.5% in the first quarter. LifePlan Financial LLC now owns 9,530 shares of the utilities provider's stock valued at $1,162,000 after buying an additional 1,553 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Duke Energy by 1.2% during the first quarter. Amalgamated Bank now owns 153,039 shares of the utilities provider's stock worth $18,666,000 after acquiring an additional 1,828 shares during the period. Verity Asset Management Inc. raised its stake in shares of Duke Energy by 2.6% in the 1st quarter. Verity Asset Management Inc. now owns 9,669 shares of the utilities provider's stock valued at $1,179,000 after purchasing an additional 241 shares during the period. Finally, Crown Wealth Group LLC acquired a new position in shares of Duke Energy during the first quarter worth about $218,000. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wells Fargo & Company boosted their price target 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. Raymond James Financial started coverage on Duke Energy in a research report on Friday, June 13th. They set a "market perform" rating on the stock. The Goldman Sachs Group raised Duke Energy from a "neutral" rating to a "buy" rating and increased their price objective for the company from $125.00 to $132.00 in a report on Wednesday, June 25th. UBS Group restated a "neutral" rating and set a $127.00 target price (up from $126.00) on shares of Duke Energy in a report on Monday, June 2nd. Finally, Morgan Stanley cut their price target on shares of Duke Energy from $125.00 to $124.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Duke Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $126.88.

Duke Energy Price Performance

DUK stock traded up $0.84 during midday trading on Tuesday, reaching $118.84. 3,498,645 shares of the stock were exchanged, compared to its average volume of 3,478,192. The company has a fifty day moving average price of $117.48 and a 200 day moving average price of $115.19. The stock has a market capitalization of $92.37 billion, a PE ratio of 19.71, a P/E/G ratio of 2.95 and a beta of 0.37. Duke Energy Corporation has a 52 week low of $99.21 and a 52 week high of $125.27. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.77 and a quick ratio of 0.50.

Duke Energy (NYSE:DUK - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share for the quarter, beating analysts' consensus estimates of $1.59 by $0.17. The business had revenue of $8.25 billion during the quarter, compared to the consensus estimate of $7.70 billion. Duke Energy had a return on equity of 9.88% and a net margin of 15.40%. Duke Energy's quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.44 earnings per share. As a group, analysts expect that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 16th were given a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend was Friday, May 16th. Duke Energy's dividend payout ratio is presently 69.32%.

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.