Kovack Advisors Inc. Boosts Stake in Duke Energy Co. (NYSE:DUK)

Kovack Advisors Inc. raised its position in Duke Energy Co. (NYSE:DUK) by 7.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,030 shares of the utilities provider’s stock after buying an additional 631 shares during the quarter. Kovack Advisors Inc.’s holdings in Duke Energy were worth $973,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. abrdn plc lifted its position in Duke Energy by 23.2% during the third quarter. abrdn plc now owns 257,492 shares of the utilities provider’s stock valued at $29,707,000 after buying an additional 48,514 shares in the last quarter. Diversify Advisory Services LLC lifted its holdings in shares of Duke Energy by 11.7% during the 3rd quarter. Diversify Advisory Services LLC now owns 3,079 shares of the utilities provider’s stock valued at $369,000 after acquiring an additional 323 shares in the last quarter. Golden State Equity Partners boosted its position in Duke Energy by 24.8% during the 3rd quarter. Golden State Equity Partners now owns 4,599 shares of the utilities provider’s stock worth $530,000 after purchasing an additional 915 shares during the period. Diversify Wealth Management LLC increased its holdings in Duke Energy by 5.0% in the 3rd quarter. Diversify Wealth Management LLC now owns 4,958 shares of the utilities provider’s stock valued at $598,000 after purchasing an additional 234 shares in the last quarter. Finally, JFS Wealth Advisors LLC lifted its stake in shares of Duke Energy by 3,922.2% during the third quarter. JFS Wealth Advisors LLC now owns 5,068 shares of the utilities provider’s stock worth $584,000 after purchasing an additional 4,942 shares in the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.

Duke Energy Price Performance

Shares of DUK stock opened at $116.03 on Friday. The firm has a market cap of $89.63 billion, a P/E ratio of 20.32, a P/E/G ratio of 2.79 and a beta of 0.50. The firm has a fifty day moving average of $110.85 and a two-hundred day moving average of $113.10. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.67 and a quick ratio of 0.44. Duke Energy Co. has a 1-year low of $90.09 and a 1-year high of $121.25.

Duke Energy (NYSE:DUK) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.66 earnings per share for the quarter, beating 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%. As a group, research analysts anticipate that Duke Energy Co. will post 6.33 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 14th will be issued a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Friday, February 14th. Duke Energy’s dividend payout ratio is presently 73.20%.

Analyst Upgrades and Downgrades

DUK has been the subject of a number of recent research reports. BMO Capital Markets increased their target price on Duke Energy from $119.00 to $124.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Scotiabank lifted their price objective on shares of Duke Energy from $113.00 to $120.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Jefferies Financial Group upped their target price on shares of Duke Energy from $129.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Morgan Stanley dropped their price target on shares of Duke Energy from $122.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. 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.com, Duke Energy has a consensus rating of “Moderate Buy” and a consensus 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.