SpringVest Wealth Management LLC Acquires New Position in Duke Energy Co. (NYSE:DUK)

SpringVest Wealth Management LLC purchased a new stake in shares of Duke Energy Co. (NYSE:DUK - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,019 shares of the utilities provider's stock, valued at approximately $325,000.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of Duke Energy by 11.6% in the fourth quarter. Brighton Jones LLC now owns 6,754 shares of the utilities provider's stock valued at $728,000 after buying an additional 700 shares during the period. Flagship Harbor Advisors LLC grew its holdings in shares of Duke Energy by 5.7% during the fourth quarter. Flagship Harbor Advisors LLC now owns 4,256 shares of the utilities provider's stock worth $459,000 after buying an additional 229 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Duke Energy by 54.8% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,121 shares of the utilities provider's stock valued at $444,000 after buying an additional 1,458 shares during the last quarter. Drive Wealth Management LLC bought a new stake in Duke Energy in the 4th quarter valued at approximately $227,000. Finally, Blue Trust Inc. boosted its position in Duke Energy by 18.7% during the 4th quarter. Blue Trust Inc. now owns 24,772 shares of the utilities provider's stock worth $2,856,000 after acquiring an additional 3,908 shares during the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on DUK shares. JPMorgan Chase & Co. boosted their price objective on shares of Duke Energy from $114.00 to $121.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 11th. UBS Group increased their price objective on shares of Duke Energy from $123.00 to $127.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Morgan Stanley lowered their target price on Duke Energy from $126.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 22nd. Guggenheim increased their price target on Duke Energy from $132.00 to $135.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group boosted their price target on Duke Energy from $129.00 to $132.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $125.81.

Duke Energy Stock Performance

Shares of Duke Energy stock traded up $2.16 during trading on Friday, reaching $117.61. The company's stock had a trading volume of 8,077,893 shares, compared to its average volume of 3,461,048. 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 business's 50-day moving average price is $118.76 and its 200-day moving average price is $114.82. Duke Energy Co. has a 52 week low of $99.21 and a 52 week high of $125.27. The firm has a market cap of $91.41 billion, a PE ratio of 20.60, a P/E/G ratio of 2.79 and a beta of 0.39.

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. Duke Energy had a net margin of 14.90% and a return on equity of 9.50%. The firm 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 business posted $1.44 EPS. The business's revenue was up 7.5% compared to the same quarter last year. Equities analysts forecast that Duke Energy Co. will post 6.33 earnings per share for the current year.

Duke Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be issued a dividend of $1.045 per share. This represents a $4.18 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend is Friday, May 16th. Duke Energy's dividend payout ratio (DPR) is currently 69.32%.

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.