Zurich Insurance Group Ltd FI Buys 27,127 Shares of Duke Energy Co. (NYSE:DUK)

Zurich Insurance Group Ltd FI lifted its stake in shares of Duke Energy Co. (NYSE:DUK) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 455,211 shares of the utilities provider’s stock after purchasing an additional 27,127 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Duke Energy were worth $49,044,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Parkworth Wealth Management Inc. acquired a new position in shares of Duke Energy during the 4th quarter worth approximately $28,000. WealthTrak Capital Management LLC acquired a new position in shares of Duke Energy during the 4th quarter worth approximately $30,000. Rakuten Securities Inc. increased its holdings in shares of Duke Energy by 1,500.0% during the 4th quarter. Rakuten Securities Inc. now owns 288 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 270 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Duke Energy during the 4th quarter worth approximately $31,000. Finally, CGC Financial Services LLC increased its holdings in shares of 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 acquiring an additional 242 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.

Duke Energy Price Performance

Shares of DUK stock opened at $116.98 on Tuesday. 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 Co. has a twelve month low of $99.21 and a twelve month high of $125.27. The company has a market cap of $90.92 billion, a P/E ratio of 20.49, a P/E/G ratio of 2.79 and a beta of 0.39. The business has a fifty day simple moving average of $119.29 and a 200 day simple moving average of $114.57.

Duke Energy (NYSE:DUK) last announced its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.17. Duke Energy had a return on equity of 9.50% and a net margin of 14.90%. The business had revenue of $8.25 billion during the quarter, compared to the consensus estimate of $7.70 billion. During the same period in the prior year, the company earned $1.44 EPS. Duke Energy’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, sell-side analysts forecast that Duke Energy Co. will post 6.33 EPS for the current fiscal year.

Duke Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 16th will be given a $1.045 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $4.18 annualized dividend and a yield of 3.57%. Duke Energy’s dividend payout ratio is presently 69.32%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DUK. Citigroup boosted their target price on Duke Energy from $130.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. BMO Capital Markets decreased their price objective on Duke Energy from $128.00 to $123.00 and set an “outperform” rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company upped their price objective on Duke Energy from $127.00 to $138.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Guggenheim upped their price objective on Duke Energy from $132.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Finally, Jefferies Financial Group upped their price objective on Duke Energy from $129.00 to $132.00 and gave the company a “buy” rating in a report on Friday, February 21st. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Duke Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.00.

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.