Massachusetts Financial Services Co. MA Has $2.07 Billion Stake in Duke Energy Co. (NYSE:DUK)

Massachusetts Financial Services Co. MA reduced its holdings in Duke Energy Co. (NYSE:DUK) by 1.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 17,972,933 shares of the utilities provider’s stock after selling 301,658 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Duke Energy were worth $2,072,279,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in DUK. PBMares Wealth Management LLC increased its position in Duke Energy by 1.8% in the 3rd quarter. PBMares Wealth Management LLC now owns 4,886 shares of the utilities provider’s stock worth $563,000 after buying an additional 86 shares during the period. Pinnacle West Asset Management Inc. grew its stake in shares of Duke Energy by 2.1% in the second quarter. Pinnacle West Asset Management Inc. now owns 4,425 shares of the utilities provider’s stock worth $444,000 after acquiring an additional 90 shares during the last quarter. Castleview Partners LLC increased its position in Duke Energy by 4.9% during the third quarter. Castleview Partners LLC now owns 1,944 shares of the utilities provider’s stock worth $224,000 after acquiring an additional 90 shares during the period. Kanawha Capital Management LLC boosted its holdings in Duke Energy by 1.4% in the 3rd quarter. Kanawha Capital Management LLC now owns 6,591 shares of the utilities provider’s stock valued at $760,000 after purchasing an additional 92 shares during the period. Finally, Baron Wealth Management LLC grew its position in Duke Energy by 3.5% in the 3rd quarter. Baron Wealth Management LLC now owns 2,730 shares of the utilities provider’s stock worth $315,000 after purchasing an additional 92 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Stock Performance

Shares of DUK stock opened at $113.78 on Thursday. Duke Energy Co. has a one year low of $88.73 and a one year high of $121.25. The stock has a market cap of $87.89 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 2.99 and a beta of 0.47. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.70 and a quick ratio of 0.45. The stock has a 50-day moving average of $115.21 and a 200-day moving average of $109.56.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11). Duke Energy had a return on equity of 9.34% and a net margin of 14.31%. The firm 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 business posted $1.94 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts expect that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $1.045 per share. This represents a $4.18 annualized dividend and a yield of 3.67%. The ex-dividend date is Friday, November 15th. Duke Energy’s payout ratio is 76.84%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Mizuho raised Duke Energy from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $116.00 to $121.00 in a report on Tuesday, October 15th. BMO Capital Markets boosted their price target on shares of Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. raised their price objective on shares of Duke Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Evercore ISI upped their target price on shares of Duke Energy from $108.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group raised their price target on shares of Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Duke Energy currently has an average rating of “Moderate Buy” and a consensus target price of $121.85.

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.