Townsend Asset Management Corp NC ADV Buys 912 Shares of Duke Energy Corporation (NYSE:DUK)

Townsend Asset Management Corp NC ADV grew its stake in shares of Duke Energy Corporation (NYSE:DUK) by 2.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,258 shares of the utilities provider’s stock after buying an additional 912 shares during the quarter. Duke Energy makes up 1.6% of Townsend Asset Management Corp NC ADV’s holdings, making the stock its 18th biggest holding. Townsend Asset Management Corp NC ADV’s holdings in Duke Energy were worth $4,056,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of DUK. Vanguard Group Inc. raised its position in Duke Energy by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 72,885,939 shares of the utilities provider’s stock valued at $7,852,731,000 after purchasing an additional 779,054 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Duke Energy by 0.7% in the fourth 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 boosted its position in Duke Energy by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 17,873,788 shares of the utilities provider’s stock worth $1,930,833,000 after buying an additional 385,612 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Duke Energy by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,562,545 shares of the utilities provider’s stock worth $922,529,000 after acquiring an additional 135,665 shares during the last quarter. Finally, Royal Bank of Canada increased its position in Duke Energy by 4.4% in the 4th quarter. Royal Bank of Canada now owns 8,503,503 shares of the utilities provider’s stock valued at $916,168,000 after acquiring an additional 357,967 shares during the period. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on DUK. Jefferies Financial Group lifted their price target on shares of Duke Energy from $129.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, February 21st. UBS Group reiterated a “neutral” rating and issued a $127.00 price target (up previously from $126.00) on shares of Duke Energy in a research report on Monday, June 2nd. BMO Capital Markets decreased their price target on Duke Energy from $128.00 to $123.00 and set an “outperform” rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. lifted their price objective on Duke Energy from $114.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 11th. Finally, Citigroup increased their target price on shares of Duke Energy from $130.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $125.75.

Duke Energy Price Performance

Shares of NYSE DUK opened at $114.50 on Thursday. The firm has a market capitalization of $88.99 billion, a P/E ratio of 18.99, a P/E/G ratio of 2.87 and a beta of 0.37. The firm’s 50-day moving average price is $118.07 and its 200-day moving average price is $114.90. 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 Corporation has a 1-year low of $99.21 and a 1-year high of $125.27.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.17. The business had revenue of $8.25 billion for the quarter, compared to the consensus estimate of $7.70 billion. Duke Energy had a return on equity of 9.88% and a net margin of 15.40%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.44 EPS. Equities research analysts anticipate that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

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 $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date was Friday, May 16th. Duke Energy’s dividend payout ratio is currently 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.