Angeles Wealth Management LLC Raises Stock Holdings in Duke Energy Corporation (NYSE:DUK)

Angeles Wealth Management LLC increased its position in shares of Duke Energy Corporation (NYSE:DUK) by 8.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,126 shares of the utilities provider’s stock after acquiring an additional 162 shares during the quarter. Angeles Wealth Management LLC’s holdings in Duke Energy were worth $259,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its stake in shares of Duke Energy by 0.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 18,097,796 shares of the utilities provider’s stock valued at $1,949,857,000 after buying an additional 124,863 shares during the period. Geode Capital Management LLC raised its holdings in Duke Energy by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 17,873,788 shares of the utilities provider’s stock valued at $1,930,833,000 after buying an additional 385,612 shares during the period. Royal Bank of Canada raised its stake in shares of Duke Energy by 4.4% during the fourth quarter. Royal Bank of Canada now owns 8,503,503 shares of the utilities provider’s stock valued at $916,168,000 after purchasing an additional 357,967 shares during the period. Northern Trust Corp raised its stake in shares of Duke Energy by 6.7% during the fourth quarter. Northern Trust Corp now owns 8,001,073 shares of the utilities provider’s stock valued at $862,036,000 after purchasing an additional 499,652 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in shares of Duke Energy by 14.8% during the fourth quarter. Nuveen Asset Management LLC now owns 4,838,705 shares of the utilities provider’s stock valued at $521,322,000 after purchasing an additional 625,008 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DUK. Citigroup lifted their price objective 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. Barclays decreased their price objective on shares of Duke Energy from $123.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, July 1st. Morgan Stanley decreased 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 report on Wednesday, June 18th. BMO Capital Markets cut their target price on Duke Energy from $128.00 to $123.00 and set an “outperform” rating on the stock in a research note on Thursday, April 10th. Finally, Raymond James Financial began coverage on Duke Energy in a research note on Friday, June 13th. They issued a “market perform” rating on the stock. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Duke Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.25.

Duke Energy Trading Up 0.2%

Shares of DUK opened at $119.98 on Friday. The business’s 50-day moving average price is $116.96 and its 200 day moving average price is $116.52. The stock has a market capitalization of $93.25 billion, a P/E ratio of 19.90, a P/E/G ratio of 3.00 and a beta of 0.37. 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 released its 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. Duke Energy had a return on equity of 9.88% and a net margin of 15.40%. The company had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $7.70 billion. During the same quarter in the previous year, the business posted $1.44 EPS. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. Analysts expect that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be paid a dividend of $1.065 per share. This represents a $4.26 annualized dividend and a yield of 3.55%. The ex-dividend date is Friday, August 15th. This is a boost from Duke Energy’s previous quarterly dividend of $1.05. Duke Energy’s payout ratio is 69.32%.

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.