Meyer Handelman Co. lessened its stake in Duke Energy Co. (NYSE:DUK – Free Report) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,577 shares of the utilities provider’s stock after selling 1,693 shares during the quarter. Meyer Handelman Co.’s holdings in Duke Energy were worth $8,143,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. PBMares Wealth Management LLC increased its holdings in Duke Energy by 1.8% during the 3rd quarter. PBMares Wealth Management LLC now owns 4,886 shares of the utilities provider’s stock worth $563,000 after purchasing an additional 86 shares in the last quarter. Castleview Partners LLC grew its holdings in shares of Duke Energy by 4.9% during the third quarter. Castleview Partners LLC now owns 1,944 shares of the utilities provider’s stock worth $224,000 after buying an additional 90 shares in the last quarter. Kanawha Capital Management LLC lifted its stake in Duke Energy by 1.4% in the 3rd quarter. Kanawha Capital Management LLC now owns 6,591 shares of the utilities provider’s stock valued at $760,000 after acquiring an additional 92 shares in the last quarter. Baron Wealth Management LLC boosted its position in Duke Energy by 3.5% during the 3rd quarter. Baron Wealth Management LLC now owns 2,730 shares of the utilities provider’s stock worth $315,000 after acquiring an additional 92 shares during the last quarter. Finally, Chicago Capital LLC raised its holdings in shares of Duke Energy by 0.9% in the third quarter. Chicago Capital LLC now owns 10,163 shares of the utilities provider’s stock valued at $1,172,000 after purchasing an additional 93 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. KeyCorp downgraded shares of Duke Energy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group began coverage on Duke Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $138.00 price objective for the company. BMO Capital Markets upped their price objective on Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. Mizuho raised shares of Duke Energy from a “neutral” rating to an “outperform” rating and raised their target price for the company from $116.00 to $121.00 in a research note on Tuesday, October 15th. Finally, Barclays upped their price target on shares of Duke Energy from $102.00 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $122.23.
Duke Energy Trading Up 0.6 %
Shares of DUK stock opened at $106.77 on Wednesday. Duke Energy Co. has a 12-month low of $90.09 and a 12-month high of $121.25. The company has a market capitalization of $82.48 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 2.88 and a beta of 0.49. The firm has a 50 day moving average price of $110.73 and a two-hundred day moving average price of $111.87. The company has a quick ratio of 0.45, a current ratio of 0.70 and a debt-to-equity ratio of 1.55.
Duke Energy (NYSE:DUK – Get Free Report) last announced its earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11). Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. The business had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same period in the previous year, the firm posted $1.94 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, analysts predict that Duke Energy Co. will post 5.95 earnings per share for the current year.
Duke Energy Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 14th will be given a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Friday, February 14th. Duke Energy’s dividend payout ratio is currently 76.84%.
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.
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