Duke Energy Corporation (DUK) Position Boosted by Meridian Wealth Management LLC
Meridian Wealth Management LLC increased its position in shares of Duke Energy Corporation (NYSE:DUK) by 16.2% during the first quarter, Holdings Channel reports. The institutional investor owned 5,258 shares of the utilities provider’s stock after buying an additional 732 shares during the period. Meridian Wealth Management LLC’s holdings in Duke Energy Corporation were worth $431,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in DUK. Pinnacle Bank bought a new stake in shares of Duke Energy Corporation during the first quarter worth $104,000. North Star Investment Management Corp. boosted its stake in shares of Duke Energy Corporation by 26.2% in the first quarter. North Star Investment Management Corp. now owns 1,552 shares of the utilities provider’s stock worth $127,000 after buying an additional 322 shares in the last quarter. Advantage Investment Management LLC boosted its stake in shares of Duke Energy Corporation by 37.4% in the first quarter. Advantage Investment Management LLC now owns 1,697 shares of the utilities provider’s stock worth $139,000 after buying an additional 462 shares in the last quarter. Nicolet Bankshares Inc. boosted its stake in shares of Duke Energy Corporation by 379.2% in the first quarter. Nicolet Bankshares Inc. now owns 1,730 shares of the utilities provider’s stock worth $142,000 after buying an additional 1,369 shares in the last quarter. Finally, Baystate Wealth Management LLC bought a new stake in shares of Duke Energy Corporation during the first quarter worth $142,000. Institutional investors and hedge funds own 55.41% of the company’s stock.
Shares of Duke Energy Corporation (DUK) traded up 0.39% during mid-day trading on Monday, hitting $86.03. 367,373 shares of the stock traded hands. Duke Energy Corporation has a one year low of $72.34 and a one year high of $87.75. The stock has a market cap of $60.22 billion, a PE ratio of 25.48 and a beta of 0.24. The stock has a 50-day moving average of $84.78 and a 200 day moving average of $82.84.
Duke Energy Corporation (NYSE:DUK) last released its earnings results on Thursday, August 3rd. The utilities provider reported $1.01 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.01. The company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.76 billion. Duke Energy Corporation had a return on equity of 7.72% and a net margin of 9.89%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.07 EPS. Equities analysts predict that Duke Energy Corporation will post $4.60 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Friday, August 18th will be paid a dividend of $0.89 per share. This is a boost from Duke Energy Corporation’s previous quarterly dividend of $0.86. This represents a $3.56 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Wednesday, August 16th. Duke Energy Corporation’s dividend payout ratio is 101.48%.
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Several research analysts have recently commented on the stock. BMO Capital Markets reissued a “hold” rating and issued a $81.00 price objective on shares of Duke Energy Corporation in a research note on Friday, April 28th. BidaskClub raised shares of Duke Energy Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Barclays PLC reissued an “equal weight” rating and issued a $88.00 price objective (up previously from $82.00) on shares of Duke Energy Corporation in a research note on Sunday, April 23rd. Zacks Investment Research raised shares of Duke Energy Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $84.00 price objective (up previously from $83.00) on shares of Duke Energy Corporation in a research note on Wednesday, August 9th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Duke Energy Corporation currently has an average rating of “Hold” and an average price target of $82.71.
In other news, Director E Marie Mckee sold 1,937 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $85.29, for a total transaction of $165,206.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.07% of the company’s stock.
Duke Energy Corporation Company Profile
Duke Energy Corporation (Duke Energy) is an energy company. The Company operates through three segments: Electric Utilities and Infrastructure; Gas Utilities and Infrastructure, and Commercial Renewables. The Company operates in the United States through its direct and indirect subsidiaries. The Electric Utilities and Infrastructure segment provides retail electric service through the generation, transmission, distribution and sale of electricity to approximately 7.5 million customers within the Southeast and Midwest regions of the United States.
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