Duke Energy Co. (NYSE:DUK) Shares Purchased by Summit Asset Management LLC

Summit Asset Management LLC boosted its position in Duke Energy Co. (NYSE:DUK) by 25.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,955 shares of the utilities provider’s stock after acquiring an additional 800 shares during the quarter. Summit Asset Management LLC’s holdings in Duke Energy were worth $426,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. PBMares Wealth Management LLC raised its holdings in shares of Duke Energy by 1.8% in the third quarter. PBMares Wealth Management LLC now owns 4,886 shares of the utilities provider’s stock valued at $563,000 after buying an additional 86 shares during the last quarter. Kanawha Capital Management LLC grew its position in shares of Duke Energy by 1.4% during the 3rd quarter. Kanawha Capital Management LLC now owns 6,591 shares of the utilities provider’s stock worth $760,000 after buying an additional 92 shares during the period. Baron Wealth Management LLC grew its position in shares of Duke Energy by 3.5% in the 3rd quarter. Baron Wealth Management LLC now owns 2,730 shares of the utilities provider’s stock valued at $315,000 after purchasing an additional 92 shares during the period. Clear Creek Financial Management LLC grew its position in shares of Duke Energy by 4.0% in the 3rd quarter. Clear Creek Financial Management LLC now owns 2,416 shares of the utilities provider’s stock valued at $279,000 after purchasing an additional 93 shares during the period. Finally, Private Wealth Partners LLC grew its position in shares of Duke Energy by 0.6% in the 3rd quarter. Private Wealth Partners LLC now owns 15,982 shares of the utilities provider’s stock valued at $1,843,000 after purchasing an additional 93 shares during the period. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Stock Up 2.1 %

Duke Energy stock opened at $115.58 on Friday. The firm has a market cap of $89.28 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 2.79 and a beta of 0.50. 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 stock has a fifty day simple moving average of $110.10 and a two-hundred day simple moving average of $113.01. Duke Energy Co. has a 12 month low of $90.09 and a 12 month high of $121.25.

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

Duke Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.045 per share. The ex-dividend date is Friday, February 14th. This represents a $4.18 dividend on an annualized basis and a yield of 3.62%. Duke Energy’s dividend payout ratio is currently 73.20%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group upped their price objective on Duke Energy from $129.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday. BMO Capital Markets upped their price objective on Duke Energy from $119.00 to $124.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Morgan Stanley decreased their price objective on Duke Energy from $122.00 to $118.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Finally, Scotiabank increased their target price on Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Duke Energy has an average rating of “Moderate Buy” and an average price target of $121.62.

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.