BCGM Wealth Management LLC Reduces Holdings in Duke Energy Co. (NYSE:DUK)

BCGM Wealth Management LLC trimmed its holdings in shares of Duke Energy Co. (NYSE:DUK) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,642 shares of the utilities provider’s stock after selling 128 shares during the period. BCGM Wealth Management LLC’s holdings in Duke Energy were worth $608,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Dakota Wealth Management boosted its position in Duke Energy by 8.2% during the third quarter. Dakota Wealth Management now owns 23,418 shares of the utilities provider’s stock worth $2,700,000 after acquiring an additional 1,781 shares during the last quarter. Ballentine Partners LLC boosted its position in Duke Energy by 6.2% during the third quarter. Ballentine Partners LLC now owns 8,790 shares of the utilities provider’s stock worth $1,013,000 after acquiring an additional 516 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Duke Energy by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,308 shares of the utilities provider’s stock worth $5,834,000 after acquiring an additional 13,056 shares during the last quarter. Arkadios Wealth Advisors boosted its position in Duke Energy by 18.7% during the third quarter. Arkadios Wealth Advisors now owns 11,089 shares of the utilities provider’s stock worth $1,279,000 after acquiring an additional 1,747 shares during the last quarter. Finally, Modera Wealth Management LLC boosted its position in Duke Energy by 2.7% during the third quarter. Modera Wealth Management LLC now owns 22,246 shares of the utilities provider’s stock worth $2,565,000 after acquiring an additional 593 shares during the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DUK. Scotiabank raised their target price on shares of Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. BMO Capital Markets lifted 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. 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 report on Friday. Finally, Morgan Stanley decreased 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 report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Duke Energy has a consensus rating of “Moderate Buy” and a consensus price target of $121.62.

Duke Energy Stock Performance

NYSE:DUK opened at $115.58 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.44 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $89.28 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 2.79 and a beta of 0.50. The firm’s fifty day simple moving average is $110.10 and its 200 day simple moving average is $113.00. Duke Energy Co. has a twelve month low of $90.09 and a twelve month high of $121.25.

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

Duke Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 14th will be paid a dividend of $1.045 per share. This represents a $4.18 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Friday, February 14th. Duke Energy’s dividend payout ratio (DPR) is 73.20%.

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.