IFG Advisory LLC Buys 1,744 Shares of Duke Energy Corporation (NYSE:DUK)

IFG Advisory LLC raised its stake in Duke Energy Corporation (NYSE:DUK) by 5.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,164 shares of the utilities provider’s stock after buying an additional 1,744 shares during the period. IFG Advisory LLC’s holdings in Duke Energy were worth $4,411,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Toth Financial Advisory Corp boosted its position in Duke Energy by 31.6% during the first quarter. Toth Financial Advisory Corp now owns 346 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 83 shares during the last quarter. Reyes Financial Architecture Inc. lifted its stake in shares of Duke Energy by 4.8% in the 1st quarter. Reyes Financial Architecture Inc. now owns 1,827 shares of the utilities provider’s stock valued at $223,000 after purchasing an additional 83 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Duke Energy by 2.8% during the 1st quarter. Revolve Wealth Partners LLC now owns 3,034 shares of the utilities provider’s stock valued at $370,000 after purchasing an additional 84 shares in the last quarter. Lokken Investment Group LLC grew its stake in Duke Energy by 3.3% during the first quarter. Lokken Investment Group LLC now owns 2,633 shares of the utilities provider’s stock worth $321,000 after purchasing an additional 84 shares during the period. Finally, Sheets Smith Wealth Management increased its holdings in Duke Energy by 0.3% in the first quarter. Sheets Smith Wealth Management now owns 27,517 shares of the utilities provider’s stock worth $3,356,000 after purchasing an additional 85 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Price Performance

DUK opened at $122.97 on Friday. Duke Energy Corporation has a 1 year low of $105.20 and a 1 year high of $125.27. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.77 and a quick ratio of 0.50. The company has a market capitalization of $95.58 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 2.94 and a beta of 0.36. The firm’s fifty day moving average price is $117.35 and its two-hundred day moving average price is $116.92.

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

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be issued a dividend of $1.065 per share. This represents a $4.26 dividend on an annualized basis and a yield of 3.5%. This is an increase from Duke Energy’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, August 15th. Duke Energy’s dividend payout ratio is 69.32%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on DUK shares. Raymond James Financial initiated coverage on shares of Duke Energy in a research report on Friday, June 13th. They set a “market perform” rating for the company. Barclays reduced their price target on shares of Duke Energy from $123.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, July 1st. UBS Group reiterated a “neutral” rating and set a $127.00 price objective (up previously from $124.00) on shares of Duke Energy in a report on Friday, July 11th. Morgan Stanley reduced their target price on Duke Energy from $125.00 to $124.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 18th. Finally, Citigroup upped their price target on Duke Energy from $130.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $127.25.

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.