West Michigan Advisors LLC Boosts Stock Position in Duke Energy Corporation (NYSE:DUK)

Key Points

• West Michigan Advisors LLC increased its position in Duke Energy Corporation by 107.5%, holding a total of 6,543 shares valued at $798,000 following the purchase of 3,389 additional shares in the 1st quarter.
• Duke Energy recently reported $1.76 earnings per share (EPS), exceeding analyst estimates, with a revenue of $8.25 billion, reflecting a 7.5% increase from the same quarter last year.
• The company announced a quarterly dividend increase to $1.065 per share, marking a rise from the previous dividend of $1.05, with an annualized dividend yield of 3.4%.

West Michigan Advisors LLC boosted its holdings in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 107.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,543 shares of the utilities provider's stock after purchasing an additional 3,389 shares during the quarter. West Michigan Advisors LLC's holdings in Duke Energy were worth $798,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Toth Financial Advisory Corp increased its holdings in Duke Energy by 31.6% during the 1st quarter. Toth Financial Advisory Corp now owns 346 shares of the utilities provider's stock worth $42,000 after purchasing an additional 83 shares during the period. Reyes Financial Architecture Inc. grew its position in shares of Duke Energy by 4.8% during the 1st quarter. Reyes Financial Architecture Inc. now owns 1,827 shares of the utilities provider's stock worth $223,000 after buying an additional 83 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Duke Energy by 2.8% in the first quarter. Revolve Wealth Partners LLC now owns 3,034 shares of the utilities provider's stock valued at $370,000 after acquiring an additional 84 shares in the last quarter. Lokken Investment Group LLC lifted its stake in Duke Energy by 3.3% in the first quarter. Lokken Investment Group LLC now owns 2,633 shares of the utilities provider's stock worth $321,000 after acquiring an additional 84 shares during the period. Finally, Sheets Smith Wealth Management grew its holdings in Duke Energy by 0.3% during the 1st quarter. Sheets Smith Wealth Management now owns 27,517 shares of the utilities provider's stock worth $3,356,000 after acquiring an additional 85 shares in the last quarter. Institutional investors own 65.31% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on DUK shares. Wells Fargo & Company lifted their price objective on shares of Duke Energy from $127.00 to $138.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. boosted their price target on Duke Energy from $122.00 to $127.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Scotiabank upped their price objective on Duke Energy from $120.00 to $128.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Morgan Stanley cut their target price on Duke Energy from $125.00 to $124.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. Finally, Citigroup raised their price target on shares of Duke Energy from $130.00 to $142.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $128.31.

Duke Energy Trading Up 0.5%

Shares of Duke Energy stock traded up $0.61 during trading hours on Thursday, hitting $125.82. The company's stock had a trading volume of 2,831,941 shares, compared to its average volume of 3,175,662. The stock has a market cap of $97.84 billion, a price-to-earnings ratio of 20.46, a P/E/G ratio of 3.03 and a beta of 0.36. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.50 and a current ratio of 0.66. Duke Energy Corporation has a twelve month low of $105.20 and a twelve month high of $127.85. The firm has a fifty day moving average of $118.08 and a 200-day moving average of $117.37.

Duke Energy (NYSE:DUK - Get Free Report) last posted its earnings results on Tuesday, August 5th. The utilities provider reported $1.25 EPS for the quarter, missing analysts' consensus estimates of $1.29 by ($0.04). The company had revenue of $7.51 billion during the quarter, compared to analyst estimates of $7.07 billion. Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. During the same period in the previous year, the company earned $1.18 EPS. The company's quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts forecast that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be issued a $1.065 dividend. This is a boost from Duke Energy's previous quarterly dividend of $1.05. The ex-dividend date is Friday, August 15th. This represents a $4.26 annualized dividend and a yield of 3.4%. 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.