Essex Financial Services Inc. Sells 949 Shares of Duke Energy Co. (NYSE:DUK)

Essex Financial Services Inc. trimmed its holdings in shares of Duke Energy Co. (NYSE:DUK) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,092 shares of the utilities provider’s stock after selling 949 shares during the quarter. Essex Financial Services Inc.’s holdings in Duke Energy were worth $1,626,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DUK. Summit Trail Advisors LLC grew its position in shares of Duke Energy by 65.5% during the 4th quarter. Summit Trail Advisors LLC now owns 13,787 shares of the utilities provider’s stock valued at $1,485,000 after acquiring an additional 5,458 shares during the period. Principle Wealth Partners LLC lifted its position in Duke Energy by 16.4% during the fourth quarter. Principle Wealth Partners LLC now owns 41,812 shares of the utilities provider’s stock valued at $4,505,000 after purchasing an additional 5,898 shares in the last quarter. International Private Wealth Advisors LLC bought a new stake in Duke Energy during the fourth quarter valued at about $295,000. Arlington Trust Co LLC increased its position in Duke Energy by 380.4% in the fourth quarter. Arlington Trust Co LLC now owns 1,595 shares of the utilities provider’s stock worth $172,000 after buying an additional 1,263 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. raised its stake in shares of Duke Energy by 2.7% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 41,931 shares of the utilities provider’s stock worth $4,518,000 after buying an additional 1,093 shares during the period. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Stock Performance

NYSE DUK opened at $116.70 on Wednesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.70 and a quick ratio of 0.45. Duke Energy Co. has a 1-year low of $90.09 and a 1-year high of $121.25. The business has a 50 day simple moving average of $109.74 and a two-hundred day simple moving average of $112.85. The stock has a market capitalization of $90.15 billion, a PE ratio of 21.45, a P/E/G ratio of 2.83 and a beta of 0.50.

Duke Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 14th will be given a $1.045 dividend. This represents a $4.18 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Friday, February 14th. Duke Energy’s dividend payout ratio is presently 76.84%.

Wall Street Analysts Forecast Growth

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