Meeder Asset Management Inc. Takes Position in Duke Energy Co. (NYSE:DUK)

Meeder Asset Management Inc. bought a new stake in shares of Duke Energy Co. (NYSE:DUK) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 723 shares of the utilities provider’s stock, valued at approximately $83,000.

Several other hedge funds also recently modified their holdings of the stock. Northwest Investment Counselors LLC purchased a new position in Duke Energy in the third quarter worth $30,000. Fortitude Family Office LLC raised its stake in shares of Duke Energy by 69.6% during the 2nd quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 119 shares during the period. Olistico Wealth LLC bought a new stake in shares of Duke Energy during the 2nd quarter valued at $30,000. Sachetta LLC raised its stake in shares of Duke Energy by 41.9% during the 2nd quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 96 shares during the period. Finally, Reston Wealth Management LLC bought a new stake in shares of Duke Energy during the 3rd quarter valued at $38,000. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Wall Street Analysts Forecast Growth

DUK has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on Duke Energy from $114.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Scotiabank upped their target price on Duke Energy from $104.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company upped their target price on Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group upped their target price on Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, Bank of America increased their price objective on Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.85.

Duke Energy Trading Up 0.2 %

DUK opened at $113.78 on Thursday. The stock has a market cap of $87.89 billion, a PE ratio of 20.92, a PEG ratio of 2.96 and a beta of 0.47. The company has a quick ratio of 0.45, a current ratio of 0.70 and a debt-to-equity ratio of 1.55. The business has a 50 day moving average of $115.21 and a 200-day moving average of $109.56. Duke Energy Co. has a 52 week low of $88.73 and a 52 week high of $121.25.

Duke Energy (NYSE:DUK) last posted its earnings results on Thursday, November 7th. The utilities provider reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11). The business had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $8.06 billion. Duke Energy had a return on equity of 9.34% and a net margin of 14.31%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.94 EPS. Equities research analysts predict that Duke Energy Co. will post 5.97 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, December 16th. Stockholders of record on Friday, November 15th will be paid a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s dividend payout ratio (DPR) is 76.84%.

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.