Redwood Wealth Management Group LLC Makes New Investment in Duke Energy Corporation (NYSE:DUK)

Redwood Wealth Management Group LLC bought a new stake in Duke Energy Corporation (NYSE:DUK) during the 1st quarter, HoldingsChannel reports. The firm bought 1,808 shares of the utilities provider’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vermillion Wealth Management Inc. purchased a new position in Duke Energy in the 4th quarter valued at $27,000. Parkworth Wealth Management Inc. acquired a new stake in shares of Duke Energy in the fourth quarter valued at about $28,000. Mattson Financial Services LLC purchased a new position in shares of Duke Energy in the fourth quarter worth about $28,000. WealthTrak Capital Management LLC acquired a new position in Duke Energy during the fourth quarter worth about $30,000. Finally, Sierra Ocean LLC purchased a new stake in Duke Energy during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Trading Down 0.3%

Shares of DUK stock opened at $114.50 on Thursday. Duke Energy Corporation has a 1-year low of $99.21 and a 1-year high of $125.27. The firm has a market cap of $88.99 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 2.87 and a beta of 0.37. The company has a 50-day moving average of $118.07 and a two-hundred day moving average of $114.90. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.77 and a quick ratio of 0.50.

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

Duke Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 16th were given a dividend of $1.045 per share. The ex-dividend date was Friday, May 16th. This represents a $4.18 annualized dividend and a dividend yield of 3.65%. Duke Energy’s dividend payout ratio is currently 69.32%.

Wall Street Analysts Forecast Growth

DUK has been the topic of a number of research reports. Raymond James Financial assumed coverage on shares of Duke Energy in a research note on Friday, June 13th. They issued a “market perform” rating on the stock. 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 report on Tuesday, March 11th. Guggenheim upped their target price on Duke Energy from $132.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. UBS Group reiterated a “neutral” rating and set a $127.00 price target (up previously from $126.00) on shares of Duke Energy in a report on Monday, June 2nd. Finally, Wells Fargo & Company upped their price objective on shares of Duke Energy from $127.00 to $138.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $125.75.

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.