FSB Premier Wealth Management Inc. Has $291,000 Stake in Duke Energy Corporation (NYSE:DUK)

FSB Premier Wealth Management Inc. cut its position in Duke Energy Corporation (NYSE:DUK) by 11.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,382 shares of the utilities provider’s stock after selling 294 shares during the quarter. FSB Premier Wealth Management Inc.’s holdings in Duke Energy were worth $291,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Tower Bridge Advisors increased its stake in Duke Energy by 3.3% in the first quarter. Tower Bridge Advisors now owns 12,528 shares of the utilities provider’s stock valued at $1,528,000 after acquiring an additional 400 shares during the last quarter. Arkadios Wealth Advisors increased its stake in shares of Duke Energy by 146.9% in the 1st quarter. Arkadios Wealth Advisors now owns 31,562 shares of the utilities provider’s stock valued at $3,850,000 after purchasing an additional 18,781 shares during the last quarter. Bayforest Capital Ltd raised its holdings in shares of Duke Energy by 9,314.1% during the 1st quarter. Bayforest Capital Ltd now owns 7,343 shares of the utilities provider’s stock worth $896,000 after buying an additional 7,265 shares in the last quarter. Orca Wealth Management LLC lifted its position in shares of Duke Energy by 0.7% during the 1st quarter. Orca Wealth Management LLC now owns 12,620 shares of the utilities provider’s stock worth $1,539,000 after buying an additional 86 shares during the last quarter. Finally, Marshall Investment Management LLC grew its position in Duke Energy by 3.2% in the first quarter. Marshall Investment Management LLC now owns 21,422 shares of the utilities provider’s stock valued at $2,613,000 after acquiring an additional 661 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Up 0.9%

Duke Energy stock opened at $120.58 on Thursday. The firm has a market capitalization of $93.72 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 2.99 and a beta of 0.37. The firm’s fifty day moving average price is $117.09 and its two-hundred day moving average price is $116.70. Duke Energy Corporation has a 1-year low of $105.20 and a 1-year high of $125.27. 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) last announced its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.17. The business 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 firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.44 EPS. On average, equities research analysts predict that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be paid a $1.065 dividend. This is a positive change 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 dividend yield of 3.53%. Duke Energy’s dividend payout ratio is presently 69.32%.

Analyst Ratings Changes

DUK has been the subject of a number of research analyst reports. Morgan Stanley lowered their price objective on shares of Duke Energy from $125.00 to $124.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 18th. The Goldman Sachs Group set a $132.00 target price on shares of Duke Energy in a research note on Tuesday, July 1st. UBS Group reiterated a “neutral” rating and issued a $127.00 price target (up from $124.00) on shares of Duke Energy in a research note on Friday, July 11th. Citigroup boosted their price objective on Duke Energy from $130.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Finally, Barclays lowered their target price on Duke Energy from $123.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, July 1st. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $127.25.

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.