1620 Investment Advisors Inc. Acquires Shares of 466 Duke Energy Co. (NYSE:DUK)

1620 Investment Advisors Inc. purchased a new stake in shares of Duke Energy Co. (NYSE:DUK) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 466 shares of the utilities provider’s stock, valued at approximately $47,000.

A number of other hedge funds have also modified their holdings of the stock. SeaCrest Wealth Management LLC raised its position in shares of Duke Energy by 1.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,093 shares of the utilities provider’s stock valued at $611,000 after acquiring an additional 98 shares during the period. Indiana Trust & Investment Management CO boosted its position in shares of Duke Energy by 4.9% during the second quarter. Indiana Trust & Investment Management CO now owns 2,147 shares of the utilities provider’s stock worth $215,000 after purchasing an additional 100 shares in the last quarter. Sound Income Strategies LLC grew its holdings in shares of Duke Energy by 6.5% in the 2nd quarter. Sound Income Strategies LLC now owns 1,706 shares of the utilities provider’s stock valued at $171,000 after buying an additional 104 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its position in shares of Duke Energy by 3.3% in the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,390 shares of the utilities provider’s stock valued at $328,000 after buying an additional 109 shares in the last quarter. Finally, Breakwater Capital Group lifted its holdings in Duke Energy by 3.9% during the first quarter. Breakwater Capital Group now owns 2,912 shares of the utilities provider’s stock worth $282,000 after acquiring an additional 109 shares in the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.

Duke Energy Stock Down 0.5 %

DUK stock traded down $0.61 during midday trading on Thursday, hitting $112.12. The company’s stock had a trading volume of 5,167,952 shares, compared to its average volume of 2,961,193. The company’s fifty day moving average price is $106.48 and its 200 day moving average price is $100.46. Duke Energy Co. has a twelve month low of $83.06 and a twelve month high of $116.67. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.78 and a quick ratio of 0.50. The stock has a market capitalization of $86.53 billion, a P/E ratio of 28.17, a PEG ratio of 3.09 and a beta of 0.45.

Duke Energy (NYSE:DUK) last released its earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. Duke Energy had a return on equity of 9.25% and a net margin of 10.78%. The business had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $6.84 billion. During the same quarter in the previous year, the business earned $0.91 earnings per share. Duke Energy’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts predict that Duke Energy Co. will post 5.97 EPS for the current year.

Duke Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be issued a $1.045 dividend. This represents a $4.18 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Friday, August 16th. This is an increase from Duke Energy’s previous quarterly dividend of $1.03. Duke Energy’s dividend payout ratio is presently 105.03%.

Insider Activity at Duke Energy

In other news, EVP Louis E. Renjel sold 540 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $113.64, for a total transaction of $61,365.60. Following the transaction, the executive vice president now directly owns 19,884 shares in the company, valued at approximately $2,259,617.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on DUK. Evercore ISI increased their price target on Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Scotiabank increased their target price on Duke Energy from $104.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Morgan Stanley lifted their price target on shares of Duke Energy from $99.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. The Goldman Sachs Group increased their price objective on shares of Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Finally, BMO Capital Markets boosted their price objective on shares of Duke Energy from $114.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Duke Energy presently has an average rating of “Hold” and a consensus target price of $110.85.

About Duke Energy

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.