Covington Capital Management grew its position in shares of Duke Energy Corp (NYSE:DUK) by 14.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,606 shares of the utilities provider’s stock after purchasing an additional 1,741 shares during the period. Covington Capital Management’s holdings in Duke Energy were worth $1,241,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in DUK. Savior LLC acquired a new position in Duke Energy during the fourth quarter valued at approximately $27,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Duke Energy during the fourth quarter valued at approximately $27,000. Mine & Arao Wealth Creation & Management LLC. purchased a new stake in shares of Duke Energy during the fourth quarter valued at approximately $27,000. Solstein Capital LLC bought a new stake in shares of Duke Energy in the fourth quarter worth $27,000. Finally, Peddock Capital Advisors LLC bought a new stake in shares of Duke Energy in the fourth quarter worth $30,000. 63.74% of the stock is currently owned by institutional investors.
DUK has been the subject of a number of research analyst reports. Bank of America upgraded shares of Duke Energy from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $96.00 to $106.00 in a research note on Friday, February 14th. UBS Group dropped their price target on shares of Duke Energy from $116.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, March 16th. Zacks Investment Research lowered shares of Duke Energy from a “hold” rating to a “sell” rating and set a $99.00 price target for the company. in a research note on Tuesday, January 21st. Morgan Stanley dropped their price target on shares of Duke Energy from $108.00 to $99.00 and set an “equal weight” rating for the company in a research note on Thursday, March 12th. Finally, Citigroup dropped their price target on shares of Duke Energy from $94.00 to $93.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $99.46.
In other news, CEO Lynn J. Good sold 16,400 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $91.86, for a total transaction of $1,506,504.00. Following the completion of the transaction, the chief executive officer now owns 302,325 shares of the company’s stock, valued at $27,771,574.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.
Shares of DUK opened at $74.71 on Thursday. Duke Energy Corp has a 1 year low of $62.13 and a 1 year high of $103.79. The company has a market cap of $52.43 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 2.94 and a beta of 0.20. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.40 and a current ratio of 0.62. The firm has a fifty day moving average of $92.52 and a 200-day moving average of $92.60.
Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Duke Energy had a net margin of 14.89% and a return on equity of 8.31%. The company had revenue of $6.10 billion during the quarter, compared to the consensus estimate of $6.54 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was down .2% compared to the same quarter last year. Analysts predict that Duke Energy Corp will post 5.2 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 14th were issued a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a dividend yield of 5.06%. The ex-dividend date of this dividend was Thursday, February 13th. Duke Energy’s dividend payout ratio (DPR) is 74.70%.
Duke Energy Profile
Duke Energy Corp. engages in distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio.
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