Beese Fulmer Investment Management Inc. Raises Stake in Duke Energy Co. (NYSE:DUK)

Beese Fulmer Investment Management Inc. raised its position in Duke Energy Co. (NYSE:DUK) by 2.5% in the first quarter, Holdings Channel reports. The fund owned 4,648 shares of the utilities provider’s stock after buying an additional 115 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Duke Energy were worth $567,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Quent Capital LLC grew its position in Duke Energy by 3.0% in the first quarter. Quent Capital LLC now owns 2,993 shares of the utilities provider’s stock valued at $365,000 after acquiring an additional 86 shares in the last quarter. Wilmington Savings Fund Society FSB grew its position in Duke Energy by 0.3% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 31,353 shares of the utilities provider’s stock valued at $3,378,000 after acquiring an additional 93 shares in the last quarter. V Square Quantitative Management LLC grew its position in Duke Energy by 1.3% in the fourth quarter. V Square Quantitative Management LLC now owns 7,233 shares of the utilities provider’s stock valued at $779,000 after acquiring an additional 96 shares in the last quarter. Cravens & Co Advisors LLC grew its position in Duke Energy by 3.9% in the fourth quarter. Cravens & Co Advisors LLC now owns 2,624 shares of the utilities provider’s stock valued at $283,000 after acquiring an additional 98 shares in the last quarter. Finally, Chicago Capital LLC grew its position in Duke Energy by 1.0% in the fourth quarter. Chicago Capital LLC now owns 10,263 shares of the utilities provider’s stock valued at $1,106,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Up 1.9%

Shares of DUK stock opened at $117.61 on Friday. Duke Energy Co. has a 12 month low of $99.21 and a 12 month high of $125.27. The firm has a market cap of $91.41 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 2.79 and a beta of 0.39. The stock has a 50 day moving average of $118.76 and a 200-day moving average of $114.79. The company has a quick ratio of 0.44, a current ratio of 0.67 and a debt-to-equity ratio of 1.52.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $1.76 EPS 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 company had revenue of $8.25 billion during the quarter, compared to analyst estimates of $7.70 billion. During the same period in the previous year, the company earned $1.44 earnings per share. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities analysts predict that Duke Energy Co. will post 6.33 EPS for the current year.

Duke Energy Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, May 16th. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.55%. Duke Energy’s dividend payout ratio (DPR) is presently 69.32%.

Analyst Ratings Changes

Several brokerages have issued reports on DUK. Jefferies Financial Group increased their price objective on shares of Duke Energy from $129.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Guggenheim lifted their price objective on shares of Duke Energy from $132.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. raised their target price on Duke Energy from $114.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, March 11th. Citigroup raised their target price on Duke Energy from $130.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Finally, Barclays lifted their price objective on shares of Duke Energy from $111.00 to $123.00 and gave the company an “overweight” rating in a research note on Tuesday, April 8th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.81.

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.