Riverbend Wealth Management LLC Invests $274,000 in Duke Energy Co. (NYSE:DUK)

Riverbend Wealth Management LLC purchased a new position in shares of Duke Energy Co. (NYSE:DUK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,524 shares of the utilities provider's stock, valued at approximately $274,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in shares of Duke Energy in the third quarter worth about $29,000. Sierra Ocean LLC bought a new position in Duke Energy in the fourth quarter valued at approximately $31,000. CGC Financial Services LLC boosted its holdings in shares of Duke Energy by 366.7% in the fourth quarter. CGC Financial Services LLC now owns 308 shares of the utilities provider's stock valued at $33,000 after buying an additional 242 shares during the period. Winch Advisory Services LLC increased its position in shares of Duke Energy by 332.9% during the fourth quarter. Winch Advisory Services LLC now owns 316 shares of the utilities provider's stock worth $34,000 after acquiring an additional 243 shares in the last quarter. Finally, Centricity Wealth Management LLC bought a new stake in Duke Energy in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 65.31% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on DUK. BMO Capital Markets lifted their price target on Duke Energy from $123.00 to $128.00 and gave the company an "outperform" rating in a research note on Tuesday. Jefferies Financial Group upped their price target on Duke Energy from $129.00 to $132.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Scotiabank lifted their price objective on shares of Duke Energy from $113.00 to $120.00 and gave the company a "sector perform" rating in a report on Thursday, December 12th. Guggenheim increased their target price 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. Finally, Morgan Stanley lowered their price target on shares of Duke Energy from $122.00 to $118.00 and set an "equal weight" rating on the stock in a research note on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.93.

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Duke Energy Stock Performance

NYSE:DUK traded up $2.08 during mid-day trading on Friday, hitting $120.29. The stock had a trading volume of 5,709,932 shares, compared to its average volume of 3,631,062. The company's 50 day simple moving average is $112.61 and its 200 day simple moving average is $113.40. The stock has a market cap of $93.40 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 2.79 and a beta of 0.48. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.44 and a current ratio of 0.67. Duke Energy Co. has a twelve month low of $92.75 and a twelve month high of $121.25.

Duke Energy (NYSE:DUK - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.66 EPS for the quarter, beating the consensus estimate of $1.61 by $0.05. Duke Energy had a net margin of 14.90% and a return on equity of 9.50%. On average, equities research analysts forecast that Duke Energy Co. will post 6.33 earnings per share for the current year.

Duke Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Friday, February 14th. Duke Energy's dividend payout ratio is presently 73.20%.

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.