Duke Energy Corporation (NYSE:DUK) Shares Acquired by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Duke Energy Corporation by 6.2%, owning a total of 320,396 shares valued at approximately $38.98 million.
• Duke Energy declared a new quarterly dividend of $1.065, marking an increase from the previous $1.05, with an annualized yield of 3.4%.
• Analysts have set a range of price targets for Duke Energy shares, with some increasing their targets to as high as $142.00, showing a consensus rating of “Moderate Buy.”

Resona Asset Management Co. Ltd. raised its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 320,396 shares of the utilities provider's stock after purchasing an additional 18,689 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Duke Energy were worth $38,984,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of DUK. Vermillion Wealth Management Inc. bought a new position in Duke Energy during the fourth quarter valued at $27,000. Wayfinding Financial LLC bought a new position in Duke Energy during the first quarter valued at $27,000. N.E.W. Advisory Services LLC bought a new position in Duke Energy during the first quarter valued at $27,000. Mattson Financial Services LLC bought a new position in Duke Energy during the fourth quarter valued at $28,000. Finally, Montag & Caldwell LLC bought a new position in Duke Energy during the fourth quarter valued at $36,000. 65.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Duke Energy from $122.00 to $127.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. The Goldman Sachs Group set a $132.00 price target on Duke Energy in a report on Tuesday, July 1st. Barclays reaffirmed an "overweight" rating and issued a $131.00 price target (up from $122.00) on shares of Duke Energy in a report on Wednesday. Scotiabank lifted their price objective on Duke Energy from $120.00 to $128.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 6th. Finally, BMO Capital Markets lifted their price objective on Duke Energy from $131.00 to $132.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $129.80.

Insider Activity

In other news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $124.26, for a total transaction of $832,542.00. Following the completion of the sale, the executive vice president owned 46,422 shares in the company, valued at $5,768,397.72. This trade represents a 12.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

Duke Energy Stock Down 1.6%

Shares of DUK stock traded down $2.00 during trading hours on Friday, reaching $122.26. 4,023,961 shares of the company's stock were exchanged, compared to its average volume of 3,380,039. The stock's 50 day moving average is $119.07 and its 200-day moving average is $117.96. The company has a market cap of $95.07 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 3.00 and a beta of 0.36. The company has a current ratio of 0.66, a quick ratio of 0.42 and a debt-to-equity ratio of 1.55. Duke Energy Corporation has a fifty-two week low of $105.20 and a fifty-two week high of $127.85.

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 business had revenue of $7.51 billion during the quarter, compared to analysts' expectations 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 previous year, the company posted $1.18 earnings per share. Analysts predict that Duke Energy Corporation will post 6.33 earnings per share 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 issued a dividend of $1.065 per share. The ex-dividend date is Friday, August 15th. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's payout ratio is 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.