Meridian Financial Partners LLC Boosts Stake in Duke Energy Co. (NYSE:DUK)

Meridian Financial Partners LLC raised its position in Duke Energy Co. (NYSE:DUK) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,293 shares of the utilities provider’s stock after buying an additional 142 shares during the period. Duke Energy accounts for 1.6% of Meridian Financial Partners LLC’s investment portfolio, making the stock its 19th biggest holding. Meridian Financial Partners LLC’s holdings in Duke Energy were worth $1,235,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DUK. First Command Advisory Services Inc. raised its holdings in shares of Duke Energy by 1.4% during the fourth quarter. First Command Advisory Services Inc. now owns 7,949 shares of the utilities provider’s stock valued at $771,000 after purchasing an additional 110 shares during the last quarter. Chemung Canal Trust Co. raised its holdings in shares of Duke Energy by 0.8% during the fourth quarter. Chemung Canal Trust Co. now owns 14,483 shares of the utilities provider’s stock valued at $1,405,000 after purchasing an additional 113 shares during the last quarter. Verum Partners LLC increased its holdings in Duke Energy by 3.1% during the fourth quarter. Verum Partners LLC now owns 3,831 shares of the utilities provider’s stock valued at $372,000 after buying an additional 115 shares during the last quarter. J.W. Cole Advisors Inc. increased its holdings in Duke Energy by 0.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 27,481 shares of the utilities provider’s stock valued at $2,667,000 after buying an additional 115 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Duke Energy by 10.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,266 shares of the utilities provider’s stock valued at $123,000 after buying an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on DUK shares. Bank of America upped their target price on shares of Duke Energy from $96.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Scotiabank reduced their target price on shares of Duke Energy from $101.00 to $94.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Barclays increased their price objective on shares of Duke Energy from $99.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Mizuho increased their price objective on shares of Duke Energy from $89.00 to $99.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Finally, KeyCorp increased their price objective on shares of Duke Energy from $107.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.33.

Duke Energy Price Performance

Shares of NYSE:DUK traded down $0.36 during midday trading on Friday, reaching $100.23. 3,898,744 shares of the company were exchanged, compared to its average volume of 2,576,126. The company has a current ratio of 0.78, a quick ratio of 0.50 and a debt-to-equity ratio of 1.54. The business’s fifty day moving average is $101.37 and its two-hundred day moving average is $97.45. Duke Energy Co. has a one year low of $83.06 and a one year high of $104.87. The stock has a market cap of $77.35 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 2.76 and a beta of 0.45.

Duke Energy (NYSE:DUK) last issued its earnings results on Tuesday, May 7th. The utilities provider reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.05. Duke Energy had a net margin of 10.78% and a return on equity of 9.25%. The firm had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.31 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. Duke Energy’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts predict that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 17th were given a dividend of $1.025 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $4.10 annualized dividend and a yield of 4.09%. Duke Energy’s dividend payout ratio (DPR) is currently 103.02%.

Insider Buying and Selling at Duke Energy

In other Duke Energy news, EVP Julia S. Janson sold 10,000 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $102.79, for a total transaction of $1,027,900.00. Following the completion of the transaction, the executive vice president now owns 68,657 shares in the company, valued at $7,057,253.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Julia S. Janson sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $102.79, for a total value of $1,027,900.00. Following the completion of the sale, the executive vice president now owns 68,657 shares in the company, valued at approximately $7,057,253.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director E Marie Mckee sold 1,695 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $102.31, for a total transaction of $173,415.45. Following the completion of the sale, the director now owns 4 shares of the company’s stock, valued at approximately $409.24. The disclosure for this sale can be found here. Insiders sold 26,695 shares of company stock worth $2,750,815 over the last 90 days. 0.10% of the stock is owned by insiders.

Duke Energy 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.