Archer Investment Corp Purchases 136 Shares of Duke Energy Co. (NYSE:DUK)

Archer Investment Corp raised its holdings in Duke Energy Co. (NYSE:DUK) by 2.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,669 shares of the utilities provider’s stock after purchasing an additional 136 shares during the period. Archer Investment Corp’s holdings in Duke Energy were worth $668,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Howard Wealth Management LLC acquired a new position in Duke Energy in the 4th quarter valued at $219,000. Western Pacific Wealth Management LP raised its stake in Duke Energy by 39.4% in the fourth quarter. Western Pacific Wealth Management LP now owns 2,326 shares of the utilities provider’s stock valued at $226,000 after purchasing an additional 657 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Duke Energy by 3.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 435,157 shares of the utilities provider’s stock worth $42,084,000 after purchasing an additional 13,406 shares during the period. Duality Advisers LP increased its holdings in Duke Energy by 57.8% in the 1st quarter. Duality Advisers LP now owns 27,071 shares of the utilities provider’s stock valued at $2,618,000 after buying an additional 9,917 shares during the period. Finally, Clearbridge Investments LLC raised its position in shares of Duke Energy by 182.5% in the 4th quarter. Clearbridge Investments LLC now owns 39,014 shares of the utilities provider’s stock valued at $3,786,000 after buying an additional 25,203 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Insider Transactions at Duke Energy

In related news, EVP Louis E. Renjel sold 540 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $113.64, for a total transaction of $61,365.60. Following the completion of the sale, the executive vice president now directly owns 19,884 shares of the company’s stock, valued at $2,259,617.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.10% of the company’s stock.

Duke Energy Stock Performance

Shares of DUK stock opened at $115.82 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.56. The firm has a fifty day simple moving average of $108.52 and a two-hundred day simple moving average of $101.72. Duke Energy Co. has a 12 month low of $83.06 and a 12 month high of $116.67. The firm has a market capitalization of $89.44 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 3.13 and a beta of 0.45.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.16. The business had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $6.84 billion. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 EPS. Analysts forecast that Duke Energy Co. will post 5.97 EPS for the current fiscal year.

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be issued a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a yield of 3.61%. This is an increase from Duke Energy’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Friday, August 16th. Duke Energy’s payout ratio is currently 105.03%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DUK shares. Royal Bank of Canada reissued an “outperform” rating and issued a $135.00 target price on shares of Duke Energy in a report on Thursday, August 29th. Scotiabank raised their price target on shares of Duke Energy from $104.00 to $113.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Bank of America boosted their price target on shares of Duke Energy from $116.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. increased their price objective on shares of Duke Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Finally, The Goldman Sachs Group upped their price target on shares of Duke Energy from $102.00 to $113.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $113.92.

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.