Salem Investment Counselors Inc. Reduces Stock Position in Duke Energy Co. (NYSE:DUK)

Salem Investment Counselors Inc. trimmed its position in Duke Energy Co. (NYSE:DUK - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,439 shares of the utilities provider's stock after selling 7,348 shares during the period. Salem Investment Counselors Inc.'s holdings in Duke Energy were worth $3,957,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mattson Financial Services LLC acquired a new stake in Duke Energy in the 4th quarter worth about $28,000. Vermillion Wealth Management Inc. purchased a new position in Duke Energy in the 4th quarter worth approximately $27,000. Parkworth Wealth Management Inc. purchased a new position in Duke Energy in the 4th quarter worth approximately $28,000. WealthTrak Capital Management LLC purchased a new position in Duke Energy in the 4th quarter worth approximately $30,000. Finally, Rakuten Securities Inc. lifted its stake in Duke Energy by 1,500.0% in the 4th quarter. Rakuten Securities Inc. now owns 288 shares of the utilities provider's stock worth $31,000 after purchasing an additional 270 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Trading Down 0.5%

NYSE:DUK traded down $0.53 during trading hours on Friday, reaching $116.75. 2,789,470 shares of the stock were exchanged, compared to its average volume of 3,455,358. Duke Energy Co. has a twelve month low of $99.21 and a twelve month high of $125.27. The business has a 50-day moving average of $118.13 and a two-hundred day moving average of $114.95. The company has a quick ratio of 0.44, a current ratio of 0.67 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $90.75 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 2.79 and a beta of 0.37.

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, topping analysts' consensus estimates of $1.59 by $0.17. Duke Energy had a return on equity of 9.50% and a net margin of 14.90%. The business had revenue of $8.25 billion for the quarter, compared to analyst estimates of $7.70 billion. During the same quarter in the prior year, the company earned $1.44 earnings per share. The company's revenue was up 7.5% on a year-over-year basis. On average, equities analysts predict that Duke Energy Co. will post 6.33 EPS for the current year.

Duke Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be given a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Friday, May 16th. Duke Energy's dividend payout ratio is currently 69.32%.

Analysts Set New Price Targets

A number of research firms have weighed in on DUK. UBS Group reissued a "neutral" rating and issued a $127.00 target price (up from $126.00) on shares of Duke Energy in a research note on Monday, June 2nd. Barclays raised their target price on shares of Duke Energy from $111.00 to $123.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. JPMorgan Chase & Co. raised their target price on shares of Duke Energy from $114.00 to $121.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 11th. BMO Capital Markets decreased their price objective on Duke Energy from $128.00 to $123.00 and set an "outperform" rating on the stock in a report on Thursday, April 10th. Finally, Jefferies Financial Group upped their price objective on Duke Energy from $129.00 to $132.00 and gave the company a "buy" rating in a report on Friday, February 21st. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $125.81.

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.