Cannon Wealth Management Services LLC Purchases 265 Shares of Duke Energy Co. (NYSE:DUK)

Cannon Wealth Management Services LLC increased its position in shares of Duke Energy Co. (NYSE:DUK) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,530 shares of the utilities provider’s stock after purchasing an additional 265 shares during the period. Duke Energy accounts for 1.9% of Cannon Wealth Management Services LLC’s portfolio, making the stock its 17th largest holding. Cannon Wealth Management Services LLC’s holdings in Duke Energy were worth $2,211,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Pathway Financial Advisers LLC increased its holdings in Duke Energy by 11,471.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 6,777,973 shares of the utilities provider’s stock valued at $781,500,000 after acquiring an additional 6,719,398 shares during the last quarter. Groupama Asset Managment bought a new stake in Duke Energy in the 3rd quarter valued at $2,537,000. Zimmer Partners LP bought a new stake in shares of Duke Energy in the 3rd quarter worth about $166,263,000. Assenagon Asset Management S.A. increased its holdings in shares of Duke Energy by 155.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,873,321 shares of the utilities provider’s stock worth $201,832,000 after buying an additional 1,138,979 shares during the last quarter. Finally, Brookfield Corp ON boosted its stake in shares of Duke Energy by 112.6% during the 3rd quarter. Brookfield Corp ON now owns 1,002,811 shares of the utilities provider’s stock worth $115,624,000 after purchasing an additional 531,073 shares during the period. 65.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on DUK. Morgan Stanley lowered their price objective 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. Scotiabank upped their price target on shares of Duke Energy from $113.00 to $120.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Jefferies Financial Group upped their price target on shares of Duke Energy from $129.00 to $132.00 and gave the company a “buy” rating in a research note on Friday. Finally, 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 research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.62.

Duke Energy Stock Up 2.1 %

DUK stock 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. Duke Energy Co. has a twelve month low of $90.09 and a twelve month high of $121.25. The company’s 50 day moving average is $110.10 and its two-hundred day moving average is $113.00. The stock has a market cap of $89.28 billion, a P/E ratio of 20.24, a PEG ratio of 2.79 and a beta of 0.50.

Duke Energy (NYSE:DUK) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.05. Duke Energy had a net margin of 14.90% and a return on equity of 9.50%. Research analysts expect that Duke Energy Co. will post 6.33 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 14th will be issued a $1.045 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.62%. Duke Energy’s payout ratio is 73.20%.

About Duke Energy

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.