Corebridge Financial Inc. Lowers Stake in Duke Energy Co. (NYSE:DUK)

Corebridge Financial Inc. lessened its stake in Duke Energy Co. (NYSE:DUK) by 4.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 177,541 shares of the utilities provider’s stock after selling 8,390 shares during the period. Corebridge Financial Inc.’s holdings in Duke Energy were worth $19,128,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in DUK. Parkworth Wealth Management Inc. acquired a new position in shares of Duke Energy in the fourth quarter valued at approximately $28,000. Legacy Investment Solutions LLC acquired a new position in shares of Duke Energy in the third quarter worth $29,000. Sierra Ocean LLC acquired a new stake in shares of Duke Energy in the fourth quarter valued at $31,000. Rakuten Securities Inc. boosted its holdings in Duke Energy by 1,500.0% in the fourth quarter. Rakuten Securities Inc. now owns 288 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 270 shares during the period. Finally, CGC Financial Services LLC grew its stake in Duke Energy by 366.7% during the 4th quarter. CGC Financial Services LLC now owns 308 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 242 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Trading Down 0.8 %

NYSE DUK opened at $118.12 on Tuesday. Duke Energy Co. has a 52-week low of $92.75 and a 52-week high of $121.47. The firm has a 50-day moving average price of $114.39 and a 200 day moving average price of $113.66. The stock has a market capitalization of $91.78 billion, a P/E ratio of 20.69, a P/E/G ratio of 2.79 and a beta of 0.48. The company has a quick ratio of 0.44, a current ratio of 0.67 and a debt-to-equity ratio of 1.52.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results 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 return on equity of 9.50% and a net margin of 14.90%. Equities research analysts expect that Duke Energy Co. will post 6.33 EPS for the current year.

Duke Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 14th were paid a $1.045 dividend. This represents a $4.18 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Friday, February 14th. Duke Energy’s dividend payout ratio (DPR) is 73.20%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Jefferies Financial Group lifted their price target on shares of Duke Energy from $129.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Scotiabank increased their target price on shares of Duke Energy from $113.00 to $120.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. UBS Group boosted their target price on Duke Energy from $123.00 to $127.00 and gave the company a “neutral” rating in a report on Friday. Guggenheim raised their price target on Duke Energy from $132.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of Duke Energy from $114.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 11th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $123.87.

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.