Allen Wealth Management LLC Lowers Holdings in Duke Energy Co. (NYSE:DUK)

Allen Wealth Management LLC lowered its holdings in Duke Energy Co. (NYSE:DUK) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,493 shares of the utilities provider’s stock after selling 800 shares during the quarter. Duke Energy accounts for 0.9% of Allen Wealth Management LLC’s holdings, making the stock its 25th largest holding. Allen Wealth Management LLC’s holdings in Duke Energy were worth $1,238,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. United Bank grew its stake in shares of Duke Energy by 2.7% in the third quarter. United Bank now owns 4,764 shares of the utilities provider’s stock valued at $549,000 after buying an additional 127 shares in the last quarter. Benjamin Edwards Inc. increased its stake in Duke Energy by 173,616.7% during the third quarter. Benjamin Edwards Inc. now owns 41,692 shares of the utilities provider’s stock worth $4,807,000 after purchasing an additional 41,668 shares during the period. HighTower Advisors LLC lifted its position in shares of Duke Energy by 14.7% during the third quarter. HighTower Advisors LLC now owns 581,498 shares of the utilities provider’s stock worth $66,999,000 after purchasing an additional 74,689 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Duke Energy by 1.6% in the third quarter. Janus Henderson Group PLC now owns 96,936 shares of the utilities provider’s stock valued at $11,173,000 after purchasing an additional 1,500 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Duke Energy in the third quarter valued at approximately $32,379,000. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Stock Performance

Shares of DUK stock opened at $120.44 on Thursday. The stock’s 50-day moving average is $115.86 and its two-hundred day moving average is $113.80. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.44 and a current ratio of 0.67. Duke Energy Co. has a 1 year low of $92.75 and a 1 year high of $122.50. The firm has a market cap of $93.58 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 2.79 and a beta of 0.48.

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 analysts’ consensus estimates of $1.61 by $0.05. Duke Energy had a return on equity of 9.50% and a net margin of 14.90%. Analysts predict that Duke Energy Co. will post 6.33 earnings per share for the current year.

Duke Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 14th were paid a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Friday, February 14th. Duke Energy’s dividend payout ratio is currently 73.20%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on DUK shares. Jefferies Financial Group raised their price target on shares of Duke Energy from $129.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Guggenheim boosted their target price on Duke Energy from $132.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lifted their price objective on Duke Energy from $114.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, March 11th. BMO Capital Markets upped their target price on shares of Duke Energy from $123.00 to $128.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Finally, Morgan Stanley lifted their price target on shares of Duke Energy from $123.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Duke Energy presently has an average rating of “Moderate Buy” and an average target price of $123.87.

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.