Financial Advocates Investment Management Boosts Stake in Duke Energy Co. (NYSE:DUK)

Financial Advocates Investment Management grew its position in Duke Energy Co. (NYSE:DUK) by 28.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,551 shares of the utilities provider’s stock after acquiring an additional 1,917 shares during the quarter. Financial Advocates Investment Management’s holdings in Duke Energy were worth $921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of DUK. Pathway Financial Advisers LLC lifted its position in Duke Energy by 11,471.4% during the third quarter. Pathway Financial Advisers LLC now owns 6,777,973 shares of the utilities provider’s stock valued at $781,500,000 after purchasing an additional 6,719,398 shares during the last quarter. Groupama Asset Managment bought a new position in shares of Duke Energy in the 3rd quarter valued at about $2,537,000. Zimmer Partners LP purchased a new position in Duke Energy in the third quarter worth about $166,263,000. Assenagon Asset Management S.A. increased its stake in Duke Energy by 155.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,873,321 shares of the utilities provider’s stock worth $201,832,000 after acquiring an additional 1,138,979 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in Duke Energy by 13,829.1% during the third quarter. International Assets Investment Management LLC now owns 1,125,607 shares of the utilities provider’s stock valued at $129,782,000 after purchasing an additional 1,117,526 shares during the period. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Price Performance

Shares of DUK stock opened at $115.01 on Friday. Duke Energy Co. has a twelve month low of $90.09 and a twelve month high of $121.25. The company has a current ratio of 0.70, a quick ratio of 0.45 and a debt-to-equity ratio of 1.55. The stock has a fifty day simple moving average of $109.78 and a two-hundred day simple moving average of $112.67. The stock has a market capitalization of $88.85 billion, a price-to-earnings ratio of 21.14, a P/E/G ratio of 2.76 and a beta of 0.50.

Duke Energy (NYSE:DUK) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.11). Duke Energy had a return on equity of 9.34% and a net margin of 14.31%. The business had revenue of $8.16 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter in the previous year, the company earned $1.94 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. On average, analysts predict that Duke Energy Co. will post 5.91 EPS 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. Investors of record on Friday, February 14th will be issued a dividend of $1.045 per share. This represents a $4.18 annualized dividend and a yield of 3.63%. The ex-dividend date is Friday, February 14th. Duke Energy’s payout ratio is 76.84%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on DUK shares. Morgan Stanley cut their target price on Duke Energy from $122.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Scotiabank boosted 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 report on Thursday, December 12th. Mizuho upgraded shares of Duke Energy from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $116.00 to $121.00 in a report on Tuesday, October 15th. BMO Capital Markets upped their price target on shares of Duke Energy from $119.00 to $124.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Finally, KeyCorp downgraded shares of Duke Energy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 22nd. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $122.08.

Duke Energy 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.