Duke Energy (NYSE:DUK) Trading Down 1.2% – Here’s What Happened

Duke Energy Co. (NYSE:DUK)’s share price dropped 1.2% on Wednesday . The company traded as low as $112.07 and last traded at $114.55. Approximately 3,360,032 shares were traded during trading, an increase of 1% from the average daily volume of 3,319,850 shares. The stock had previously closed at $115.95.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. UBS Group upped their price objective on Duke Energy from $123.00 to $127.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. increased 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. BMO Capital Markets upped their target price on shares of Duke Energy from $123.00 to $128.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 11th. Guggenheim boosted their price objective on Duke Energy from $132.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group raised their target price on Duke Energy from $129.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Duke Energy currently has an average rating of “Moderate Buy” and a consensus price target of $124.20.

Duke Energy Price Performance

The stock has a 50-day moving average of $116.61 and a two-hundred day moving average of $113.87. The company has a current ratio of 0.67, a quick ratio of 0.44 and a debt-to-equity ratio of 1.52. The firm has a market cap of $90.45 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 2.79 and a beta of 0.39.

Duke Energy (NYSE:DUK) last released its earnings results on Thursday, February 13th. The utilities provider reported $1.66 earnings per share 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%. On average, analysts anticipate that Duke Energy Co. will post 6.33 EPS for the current year.

Duke Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 14th were given a $1.045 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $4.18 annualized dividend and a dividend yield of 3.59%. Duke Energy’s dividend payout ratio (DPR) is presently 73.20%.

Hedge Funds Weigh In On Duke Energy

A number of large investors have recently made changes to their positions in DUK. Quent Capital LLC increased its stake in Duke Energy by 3.0% in the 1st quarter. Quent Capital LLC now owns 2,993 shares of the utilities provider’s stock valued at $365,000 after buying an additional 86 shares during the period. Wilmington Savings Fund Society FSB increased its stake in shares of Duke Energy by 0.3% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 31,353 shares of the utilities provider’s stock worth $3,378,000 after acquiring an additional 93 shares during the last quarter. Pallas Capital Advisors LLC raised its holdings in shares of Duke Energy by 2.8% during the fourth quarter. Pallas Capital Advisors LLC now owns 3,456 shares of the utilities provider’s stock worth $372,000 after acquiring an additional 95 shares in the last quarter. Intergy Private Wealth LLC boosted its position in Duke Energy by 4.8% during the fourth quarter. Intergy Private Wealth LLC now owns 2,113 shares of the utilities provider’s stock valued at $228,000 after purchasing an additional 96 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its stake in shares of Duke Energy by 1.3% in the 4th quarter. V Square Quantitative Management LLC now owns 7,233 shares of the utilities provider’s stock valued at $779,000 after buying an additional 96 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

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.