Miller Financial Services LLC Takes Position in Duke Energy Co. (NYSE:DUK)

Miller Financial Services LLC acquired a new stake in Duke Energy Co. (NYSE:DUK) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,003 shares of the utilities provider’s stock, valued at approximately $324,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cornerstone Advisors LLC increased its stake in shares of Duke Energy by 7.3% in the 4th quarter. Cornerstone Advisors LLC now owns 36,700 shares of the utilities provider’s stock valued at $3,954,000 after acquiring an additional 2,500 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake in Duke Energy by 22.3% during the 4th quarter. Citizens Financial Group Inc. RI now owns 10,399 shares of the utilities provider’s stock worth $1,120,000 after acquiring an additional 1,896 shares during the last quarter. Riverbend Wealth Management LLC acquired a new position in Duke Energy during the fourth quarter valued at approximately $274,000. Davis R M Inc. increased its stake in Duke Energy by 25.5% in the fourth quarter. Davis R M Inc. now owns 4,786 shares of the utilities provider’s stock valued at $516,000 after purchasing an additional 971 shares in the last quarter. Finally, Vista Investment Partners II LLC acquired a new stake in Duke Energy in the fourth quarter worth $468,000. Institutional investors own 65.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. BMO Capital Markets upped their price objective on shares of Duke Energy from $119.00 to $124.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Morgan Stanley lowered their price target on Duke Energy from $122.00 to $118.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Guggenheim lifted 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. Scotiabank boosted their price objective on Duke Energy from $113.00 to $120.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Finally, Jefferies Financial Group lifted their price target 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. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Duke Energy currently has an average rating of “Moderate Buy” and an average target price of $122.57.

Duke Energy Stock Performance

Shares of DUK opened at $118.46 on Tuesday. Duke Energy Co. has a 12 month low of $92.75 and a 12 month high of $121.25. The firm has a fifty day simple moving average of $112.02 and a 200 day simple moving average of $113.30. The stock has a market capitalization of $91.98 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 2.79 and a beta of 0.48. The company has a current ratio of 0.67, a quick ratio of 0.44 and a debt-to-equity ratio of 1.52.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.66 EPS for the quarter, topping the consensus estimate of $1.61 by $0.05. Duke Energy had a net margin of 14.90% and a return on equity of 9.50%. Research analysts forecast that Duke Energy Co. will post 6.33 EPS for the current fiscal year.

Duke Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 14th will be paid a $1.045 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $4.18 dividend on an annualized basis and a yield of 3.53%. Duke Energy’s dividend payout ratio is 73.20%.

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.