Concord Asset Management LLC VA Has $2.12 Million Stake in Duke Energy Corporation (NYSE:DUK)

Concord Asset Management LLC VA lifted its position in shares of Duke Energy Corporation (NYSE:DUK) by 227.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,485 shares of the utilities provider’s stock after acquiring an additional 12,153 shares during the quarter. Concord Asset Management LLC VA’s holdings in Duke Energy were worth $2,123,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Wayfinding Financial LLC acquired a new position in Duke Energy in the first quarter valued at $27,000. Mattson Financial Services LLC acquired a new position in shares of Duke Energy in the 4th quarter valued at about $28,000. Vermillion Wealth Management Inc. acquired a new position in shares of Duke Energy in the 4th quarter valued at about $27,000. WealthTrak Capital Management LLC acquired a new position in shares of Duke Energy in the 4th quarter valued at about $30,000. Finally, American National Bank & Trust bought a new stake in Duke Energy in the first quarter valued at $36,000. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Stock Up 0.4%

DUK opened at $117.96 on Tuesday. The company has a quick ratio of 0.50, a current ratio of 0.77 and a debt-to-equity ratio of 1.57. The stock has a market cap of $91.69 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 2.93 and a beta of 0.37. Duke Energy Corporation has a twelve month low of $104.02 and a twelve month high of $125.27. The company’s 50-day moving average price is $116.74 and its two-hundred day moving average price is $115.86.

Duke Energy (NYSE:DUK) last released its earnings results on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.17. The firm had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $7.70 billion. Duke Energy had a net margin of 15.40% and a return on equity of 9.88%. The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.44 earnings per share. As a group, equities analysts expect that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Announces Dividend

The company 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 yield of 3.54%. The ex-dividend date of this dividend was Friday, May 16th. Duke Energy’s dividend payout ratio (DPR) is presently 69.32%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DUK. Barclays decreased their price target on shares of Duke Energy from $123.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, July 1st. BMO Capital Markets decreased their price target on shares of Duke Energy from $128.00 to $123.00 and set an “outperform” rating for the company in a research note on Thursday, April 10th. Wells Fargo & Company lifted their price target on shares of Duke Energy from $127.00 to $138.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Citigroup lifted their price target on shares of Duke Energy from $130.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Finally, UBS Group reiterated a “neutral” rating and set a $127.00 price objective (up from $124.00) on shares of Duke Energy in a report on Friday. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $126.88.

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.