Golden State Wealth Management LLC Has $1.12 Million Stock Position in Duke Energy Corporation (NYSE:DUK)

Golden State Wealth Management LLC grew its stake in shares of Duke Energy Corporation (NYSE:DUK) by 127.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 9,206 shares of the utilities provider’s stock after acquiring an additional 5,164 shares during the period. Golden State Wealth Management LLC’s holdings in Duke Energy were worth $1,123,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Aurora Private Wealth Inc. bought a new stake in shares of Duke Energy during the first quarter worth about $1,603,000. Spire Wealth Management increased its position in Duke Energy by 10.8% in the 1st quarter. Spire Wealth Management now owns 7,167 shares of the utilities provider’s stock valued at $874,000 after acquiring an additional 701 shares during the period. Golden State Equity Partners increased its holdings in Duke Energy by 3.4% in the first quarter. Golden State Equity Partners now owns 9,571 shares of the utilities provider’s stock valued at $1,167,000 after purchasing an additional 312 shares during the period. Mattern Wealth Management LLC bought a new position in Duke Energy during the 1st quarter worth $217,000. Finally, Balance Wealth LLC acquired a new position in Duke Energy during the 1st quarter worth about $227,000. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DUK. Wells Fargo & Company increased their price target on Duke Energy from $127.00 to $138.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Guggenheim raised their price target on shares of Duke Energy from $132.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. UBS Group reaffirmed a “neutral” rating and issued a $127.00 price objective (up from $126.00) on shares of Duke Energy in a research note on Monday, June 2nd. Barclays lifted their target price on shares of Duke Energy from $111.00 to $123.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Duke Energy from $114.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, March 11th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.94.

Duke Energy Price Performance

DUK stock opened at $115.99 on Thursday. 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’s 50-day moving average is $117.72 and its 200-day moving average is $114.98. The stock has a market capitalization of $90.15 billion, a PE ratio of 19.24, a price-to-earnings-growth ratio of 2.92 and a beta of 0.37. Duke Energy Corporation has a 1 year low of $99.21 and a 1 year high of $125.27.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share (EPS) 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 analyst estimates of $7.70 billion. Duke Energy had a return on equity of 9.88% and a net margin of 15.40%. The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.44 earnings per share. Equities research analysts expect that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 16th were paid a dividend of $1.045 per share. The ex-dividend date was Friday, May 16th. This represents a $4.18 dividend on an annualized basis and a yield of 3.60%. Duke Energy’s dividend payout ratio (DPR) is presently 69.32%.

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.