Hills Bank & Trust Co Boosts Stake in Duke Energy Corporation (NYSE:DUK)

Hills Bank & Trust Co increased its position in Duke Energy Corporation (NYSE:DUK) by 3.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 6,221 shares of the utilities provider’s stock after purchasing an additional 182 shares during the period. Hills Bank & Trust Co’s holdings in Duke Energy were worth $759,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mattson Financial Services LLC purchased a new stake in shares of Duke Energy in the fourth quarter worth about $28,000. Vermillion Wealth Management Inc. bought a new stake in Duke Energy during the fourth quarter worth approximately $27,000. Parkworth Wealth Management Inc. bought a new stake in Duke Energy during the fourth quarter worth approximately $28,000. WealthTrak Capital Management LLC bought a new stake in Duke Energy during the fourth quarter worth approximately $30,000. Finally, Rakuten Securities Inc. increased its stake in Duke Energy by 1,500.0% during the fourth quarter. Rakuten Securities Inc. now owns 288 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 270 shares during the last quarter. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Stock Up 0.6%

Duke Energy stock opened at $116.93 on Monday. The business has a fifty day moving average of $117.52 and a two-hundred day moving average of $115.13. The company has a quick ratio of 0.50, a current ratio of 0.77 and a debt-to-equity ratio of 1.57. The firm has a market cap of $90.89 billion, a P/E ratio of 19.39, a P/E/G ratio of 2.92 and a beta of 0.37. Duke Energy Corporation has a twelve month low of $99.21 and a twelve month high of $126.37.

Duke Energy (NYSE:DUK) last posted its 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 company had revenue of $8.25 billion during the quarter, compared to analyst estimates of $7.70 billion. Duke Energy had a return on equity of 9.88% and a net margin of 15.40%. Duke Energy’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.44 earnings per share. On average, analysts forecast that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 16th were issued a dividend of $1.045 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $4.18 dividend on an annualized basis and a yield of 3.57%. Duke Energy’s dividend payout ratio is currently 69.32%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DUK. Wells Fargo & Company boosted their price objective on Duke Energy from $127.00 to $138.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. BMO Capital Markets reduced their price objective on Duke Energy from $128.00 to $123.00 and set an “outperform” rating on the stock in a research note on Thursday, April 10th. Barclays boosted their price objective on Duke Energy from $111.00 to $123.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 8th. The Goldman Sachs Group raised Duke Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $125.00 to $132.00 in a research note on Wednesday, June 25th. Finally, Raymond James Financial began coverage on Duke Energy in a research note on Friday, June 13th. They set a “market perform” rating on the stock. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.94.

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.