Spire Wealth Management Has $874,000 Holdings in Duke Energy Corporation (NYSE:DUK)

Spire Wealth Management grew its position in shares of Duke Energy Corporation (NYSE:DUK) by 10.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,167 shares of the utilities provider’s stock after purchasing an additional 701 shares during the quarter. Spire Wealth Management’s holdings in Duke Energy were worth $874,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in DUK. GAMMA Investing LLC boosted its stake in shares of Duke Energy by 14,268.8% during the first quarter. GAMMA Investing LLC now owns 1,663,183 shares of the utilities provider’s stock valued at $202,858,000 after purchasing an additional 1,651,608 shares in the last quarter. ExodusPoint Capital Management LP acquired a new stake in shares of Duke Energy during the fourth quarter valued at about $163,819,000. Capital Wealth Planning LLC boosted its stake in shares of Duke Energy by 116.5% during the fourth quarter. Capital Wealth Planning LLC now owns 2,065,344 shares of the utilities provider’s stock valued at $222,520,000 after purchasing an additional 1,111,581 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Duke Energy by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 72,885,939 shares of the utilities provider’s stock valued at $7,852,731,000 after purchasing an additional 779,054 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of Duke Energy by 14.8% during the fourth quarter. Nuveen Asset Management LLC now owns 4,838,705 shares of the utilities provider’s stock valued at $521,322,000 after purchasing an additional 625,008 shares in the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.

Duke Energy Stock Up 0.6%

Shares of NYSE:DUK opened at $116.93 on Friday. The stock has a market cap of $90.89 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.90 and a beta of 0.37. The company has a quick ratio of 0.50, a current ratio of 0.77 and a debt-to-equity ratio of 1.57. Duke Energy Corporation has a 12-month low of $99.21 and a 12-month high of $125.27. The business’s 50 day moving average is $117.52 and its 200 day moving average is $115.05.

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

Duke Energy Dividend Announcement

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

Analysts Set New Price Targets

DUK has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised 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. Raymond James Financial initiated coverage on Duke Energy in a research report on Friday, June 13th. They set a “market perform” rating for the company. Citigroup lifted their target price on Duke Energy from $130.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. BMO Capital Markets lowered their target price on Duke Energy from $128.00 to $123.00 and set an “outperform” rating for the company in a report on Thursday, April 10th. Finally, The Goldman Sachs Group upgraded Duke Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $125.00 to $132.00 in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Duke Energy has a consensus rating of “Moderate Buy” and an average 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.