SteelPeak Wealth LLC Purchases 11,823 Shares of Duke Energy Corporation (NYSE:DUK)

SteelPeak Wealth LLC boosted its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 41.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,286 shares of the utilities provider's stock after acquiring an additional 11,823 shares during the period. SteelPeak Wealth LLC's holdings in Duke Energy were worth $4,914,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Xponance Inc. boosted its holdings in Duke Energy by 1.7% during the first quarter. Xponance Inc. now owns 112,051 shares of the utilities provider's stock worth $13,667,000 after buying an additional 1,889 shares during the last quarter. State of Michigan Retirement System boosted its holdings in Duke Energy by 0.4% during the first quarter. State of Michigan Retirement System now owns 210,536 shares of the utilities provider's stock worth $25,679,000 after buying an additional 900 shares during the last quarter. MJP Associates Inc. ADV boosted its holdings in Duke Energy by 21.8% during the first quarter. MJP Associates Inc. ADV now owns 4,141 shares of the utilities provider's stock worth $505,000 after buying an additional 741 shares during the last quarter. Cerity Partners LLC boosted its holdings in Duke Energy by 10.0% during the first quarter. Cerity Partners LLC now owns 329,593 shares of the utilities provider's stock worth $40,200,000 after buying an additional 30,023 shares during the last quarter. Finally, Code Waechter LLC bought a new position in Duke Energy during the first quarter worth about $422,000. Institutional investors own 65.31% of the company's stock.

Duke Energy Stock Down 0.7%

Shares of NYSE:DUK traded down $0.77 during trading on Friday, hitting $117.40. 2,098,870 shares of the company were exchanged, compared to its average volume of 3,474,968. The stock has a market cap of $91.25 billion, a price-to-earnings ratio of 19.47, a P/E/G ratio of 2.95 and a beta of 0.37. Duke Energy Corporation has a fifty-two week low of $104.02 and a fifty-two week high of $125.27. The firm has a fifty day moving average price of $116.79 and a two-hundred day moving average price of $115.69. The company has a current ratio of 0.77, a quick ratio of 0.50 and a debt-to-equity ratio of 1.57.

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

Duke Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 16th were issued a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend was Friday, May 16th. Duke Energy's payout ratio is presently 69.32%.

Analyst Ratings Changes

A number of equities analysts have issued reports on DUK shares. Barclays reduced their target price on Duke Energy from $123.00 to $122.00 and set an "overweight" rating on the stock in a report on Tuesday, July 1st. BMO Capital Markets dropped their price target on Duke Energy from $128.00 to $123.00 and set an "outperform" rating on the stock in a research report on Thursday, April 10th. 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. Wells Fargo & Company raised their price target on Duke Energy from $127.00 to $138.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley dropped their price target on Duke Energy from $125.00 to $124.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 18th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $126.88.

Duke Energy Company 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.