Prudential Financial Inc. Has $46.23 Million Stock Position in Duke Energy Co. (NYSE:DUK)

Prudential Financial Inc. lessened its position in Duke Energy Co. (NYSE:DUK) by 26.6% in the fourth quarter, HoldingsChannel reports. The fund owned 429,117 shares of the utilities provider’s stock after selling 155,590 shares during the quarter. Prudential Financial Inc.’s holdings in Duke Energy were worth $46,233,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in Duke Energy during the 3rd quarter valued at $29,000. Parkworth Wealth Management Inc. acquired a new position in Duke Energy during the 4th quarter valued at about $28,000. Rakuten Securities Inc. lifted its holdings in shares of 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 in the last quarter. Sierra Ocean LLC purchased a new position in shares of Duke Energy during the fourth quarter valued at approximately $31,000. Finally, CGC Financial Services LLC raised its position in Duke Energy by 366.7% in the 4th 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 last quarter. Institutional investors own 65.31% of the company’s stock.

Duke Energy Price Performance

NYSE DUK opened at $116.10 on Wednesday. The company has a market cap of $90.21 billion, a PE ratio of 20.33, a price-to-earnings-growth 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. The firm’s 50-day simple moving average is $114.58 and its two-hundred day simple moving average is $113.65. Duke Energy Co. has a 52 week low of $92.75 and a 52 week high of $121.47.

Duke Energy (NYSE:DUK) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.66 EPS for the quarter, topping 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%. Research analysts predict that Duke Energy Co. will post 6.33 earnings per share 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 dividend of $1.045 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.60%. Duke Energy’s payout ratio is 73.20%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Duke Energy from $114.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, March 11th. UBS Group upped their price objective on shares of Duke Energy from $123.00 to $127.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Scotiabank boosted their target price on Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Morgan Stanley increased their price target on Duke Energy from $123.00 to $128.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Finally, Jefferies Financial Group boosted their price objective on Duke Energy from $129.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Duke Energy currently has an average rating of “Moderate Buy” and a consensus target price of $123.87.

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.