Frank Rimerman Advisors LLC Purchases 3,586 Shares of Duke Energy Corporation $DUK

Frank Rimerman Advisors LLC grew its position in Duke Energy Corporation (NYSE:DUK) by 42.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,954 shares of the utilities provider’s stock after buying an additional 3,586 shares during the period. Frank Rimerman Advisors LLC’s holdings in Duke Energy were worth $1,411,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Activest Wealth Management grew its stake in Duke Energy by 98.1% in the first quarter. Activest Wealth Management now owns 212 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 105 shares during the period. N.E.W. Advisory Services LLC bought a new position in shares of Duke Energy during the 1st quarter valued at about $27,000. Legacy Investment Solutions LLC acquired a new position in shares of Duke Energy in the 2nd quarter valued at approximately $28,000. Mascoma Wealth Management LLC increased its stake in Duke Energy by 53.7% during the 2nd quarter. Mascoma Wealth Management LLC now owns 249 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 87 shares in the last quarter. Finally, Financial Network Wealth Advisors LLC raised its holdings in Duke Energy by 360.0% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 253 shares of the utilities provider’s stock worth $31,000 after buying an additional 198 shares during the period. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Trading Down 1.0%

Shares of NYSE:DUK opened at $123.88 on Wednesday. The company’s 50-day moving average price is $124.33 and its two-hundred day moving average price is $120.95. Duke Energy Corporation has a one year low of $105.20 and a one year high of $130.03. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.66 and a quick ratio of 0.42. The stock has a market capitalization of $96.33 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 3.05 and a beta of 0.45.

Duke Energy (NYSE:DUK) last released its earnings results on Thursday, November 6th. The utilities provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The business had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter in the previous year, the business earned $1.62 earnings per share. Duke Energy’s quarterly revenue was up 4.8% on a year-over-year basis. On average, equities analysts forecast that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be paid a dividend of $1.065 per share. The ex-dividend date is Friday, November 14th. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. Duke Energy’s dividend payout ratio is currently 66.98%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DUK. Royal Bank Of Canada raised shares of Duke Energy to a “hold” rating in a research report on Tuesday, October 28th. Scotiabank set a $137.00 target price on shares of Duke Energy and gave the stock a “sector outperform” rating in a research note on Friday, October 3rd. Wells Fargo & Company raised Duke Energy to a “hold” rating in a research note on Tuesday, October 28th. Jefferies Financial Group boosted their price target on Duke Energy from $134.00 to $138.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. increased their price objective on Duke Energy from $131.00 to $136.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $138.63.

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.