Grandview Asset Management LLC Purchases 247 Shares of Duke Energy Co. (NYSE:DUK)

Grandview Asset Management LLC boosted its position in Duke Energy Co. (NYSE:DUK) by 1.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,034 shares of the utilities provider’s stock after buying an additional 247 shares during the period. Duke Energy makes up approximately 1.3% of Grandview Asset Management LLC’s portfolio, making the stock its 24th biggest position. Grandview Asset Management LLC’s holdings in Duke Energy were worth $1,349,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DUK. Northwest Investment Counselors LLC increased its holdings in Duke Energy by 174.2% during the 1st quarter. Northwest Investment Counselors LLC now owns 266 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 169 shares in the last quarter. Chilton Capital Management LLC bought a new stake in Duke Energy during the 1st quarter worth approximately $28,000. Fairfield Bush & CO. bought a new stake in Duke Energy during the 1st quarter worth approximately $40,000. Compass Wealth Management LLC bought a new position in shares of Duke Energy in the fourth quarter valued at approximately $41,000. Finally, Heritage Wealth Management LLC grew its holdings in shares of Duke Energy by 166.7% in the fourth quarter. Heritage Wealth Management LLC now owns 504 shares of the utilities provider’s stock valued at $52,000 after acquiring an additional 315 shares in the last quarter. 63.68% of the stock is owned by institutional investors.

Duke Energy Stock Performance

Shares of NYSE:DUK traded up $0.22 during trading on Friday, hitting $95.67. 1,704,458 shares of the company were exchanged, compared to its average volume of 2,940,090. The company has a market cap of $73.73 billion, a PE ratio of 53.32, a P/E/G ratio of 2.75 and a beta of 0.43. The stock has a 50 day moving average of $91.39 and a 200 day moving average of $93.33. Duke Energy Co. has a 52-week low of $83.76 and a 52-week high of $107.59. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.75 and a quick ratio of 0.52.

Duke Energy (NYSE:DUK) last posted its earnings results on Tuesday, August 8th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.07). The company had revenue of $6.58 billion for the quarter, compared to analysts’ expectations of $6.16 billion. Duke Energy had a return on equity of 8.05% and a net margin of 5.06%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 EPS. As a group, equities research analysts predict that Duke Energy Co. will post 5.61 EPS for the current year.

Duke Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, August 18th will be given a dividend of $1.025 per share. The ex-dividend date is Thursday, August 17th. This represents a $4.10 annualized dividend and a dividend yield of 4.29%. This is an increase from Duke Energy’s previous quarterly dividend of $1.01. Duke Energy’s dividend payout ratio is currently 229.05%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DUK. Morgan Stanley reduced their target price on Duke Energy from $102.00 to $95.00 and set an “equal weight” rating for the company in a report on Wednesday, August 23rd. Royal Bank of Canada reduced their target price on Duke Energy from $104.00 to $101.00 and set a “sector perform” rating for the company in a report on Wednesday, September 6th. StockNews.com lowered Duke Energy from a “hold” rating to a “sell” rating in a report on Saturday, September 2nd. The Goldman Sachs Group started coverage on Duke Energy in a report on Wednesday, June 7th. They issued a “neutral” rating and a $99.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price objective on Duke Energy from $98.00 to $101.00 and gave the company a “neutral” rating in a research note on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Duke Energy presently has an average rating of “Hold” and an average target price of $99.92.

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; and uses coal, hydroelectric, natural gas, oil, solar and wind sources, renewables, and nuclear fuel to generate electricity.