Duke Energy Co. (NYSE:DUK) Stake Decreased by RNC Capital Management LLC

RNC Capital Management LLC lessened its stake in shares of Duke Energy Co. (NYSE:DUK) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,651 shares of the utilities provider’s stock after selling 924 shares during the quarter. RNC Capital Management LLC’s holdings in Duke Energy were worth $1,471,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. PBMares Wealth Management LLC grew its position in Duke Energy by 1.8% during the 3rd quarter. PBMares Wealth Management LLC now owns 4,886 shares of the utilities provider’s stock worth $563,000 after purchasing an additional 86 shares in the last quarter. Castleview Partners LLC grew its position in Duke Energy by 4.9% during the 3rd quarter. Castleview Partners LLC now owns 1,944 shares of the utilities provider’s stock worth $224,000 after purchasing an additional 90 shares in the last quarter. Kanawha Capital Management LLC grew its position in 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 purchasing an additional 92 shares in the last quarter. Baron Wealth Management LLC boosted its stake in shares of Duke Energy by 3.5% during the 3rd quarter. Baron Wealth Management LLC now owns 2,730 shares of the utilities provider’s stock valued at $315,000 after buying an additional 92 shares during the period. Finally, Chicago Capital LLC boosted its stake in shares of Duke Energy by 0.9% during the 3rd quarter. Chicago Capital LLC now owns 10,163 shares of the utilities provider’s stock valued at $1,172,000 after buying an additional 93 shares during the period. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Stock Performance

NYSE:DUK opened at $114.43 on Friday. The business’s 50-day moving average price is $109.84 and its two-hundred day moving average price is $112.66. Duke Energy Co. has a twelve month low of $90.09 and a twelve month high of $121.25. The stock has a market cap of $88.39 billion, a P/E ratio of 21.03, a PEG ratio of 2.76 and a beta of 0.50. The company has a quick ratio of 0.45, a current ratio of 0.70 and a debt-to-equity ratio of 1.55.

Duke Energy (NYSE:DUK) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11). The firm had revenue of $8.16 billion for the quarter, compared to analysts’ expectations of $8.06 billion. Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.94 earnings per share. As a group, equities analysts predict that Duke Energy Co. will post 5.91 EPS for the current fiscal year.

Duke Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 14th will be paid a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date is Friday, February 14th. Duke Energy’s payout ratio is presently 76.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. KeyCorp lowered shares of Duke Energy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 22nd. Morgan Stanley cut their target price on shares of Duke Energy from $122.00 to $118.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. BMO Capital Markets boosted their target price on shares of Duke Energy from $119.00 to $124.00 and gave the stock an “outperform” rating in a research report on Monday. Scotiabank boosted their price objective on shares of Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Finally, Mizuho upgraded shares of Duke Energy from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $116.00 to $121.00 in a report on Tuesday, October 15th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $122.08.

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.