Duke Energy Co. (NYSE:DUK) Shares Sold by ProVise Management Group LLC

ProVise Management Group LLC lowered its stake in shares of Duke Energy Co. (NYSE:DUK) by 6.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,936 shares of the utilities provider’s stock after selling 3,517 shares during the quarter. ProVise Management Group LLC’s holdings in Duke Energy were worth $5,703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in DUK. United Bank boosted its holdings in Duke Energy by 2.7% in the third quarter. United Bank now owns 4,764 shares of the utilities provider’s stock worth $549,000 after purchasing an additional 127 shares during the period. Empowered Funds LLC boosted its holdings in Duke Energy by 9.4% in the third quarter. Empowered Funds LLC now owns 16,601 shares of the utilities provider’s stock worth $1,914,000 after purchasing an additional 1,432 shares during the period. Quest Partners LLC acquired a new position in Duke Energy in the third quarter worth $1,678,000. Meeder Advisory Services Inc. boosted its holdings in Duke Energy by 5.8% in the third quarter. Meeder Advisory Services Inc. now owns 12,995 shares of the utilities provider’s stock worth $1,498,000 after purchasing an additional 708 shares during the period. Finally, New England Asset Management Inc. boosted its holdings in Duke Energy by 0.6% in the third quarter. New England Asset Management Inc. now owns 75,680 shares of the utilities provider’s stock worth $8,726,000 after purchasing an additional 465 shares during the period. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Price Performance

Shares of NYSE DUK opened at $120.85 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 0.67 and a debt-to-equity ratio of 1.52. The firm’s 50-day simple moving average is $113.44 and its 200 day simple moving average is $113.57. Duke Energy Co. has a fifty-two week low of $92.75 and a fifty-two week high of $121.47. The stock has a market cap of $93.84 billion, a P/E ratio of 21.17, a P/E/G ratio of 2.79 and a beta of 0.48.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.66 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%. Equities analysts expect that Duke Energy Co. will post 6.33 EPS for the current year.

Duke Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 14th were given a $1.045 dividend. This represents a $4.18 annualized dividend and a yield of 3.46%. The ex-dividend date was Friday, February 14th. Duke Energy’s dividend payout ratio (DPR) is presently 73.20%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. BMO Capital Markets lifted their price objective on shares of Duke Energy from $123.00 to $128.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Guggenheim boosted their price target on shares of Duke Energy from $132.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Scotiabank boosted their price target on shares of Duke Energy from $113.00 to $120.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. boosted their price target on shares of Duke Energy from $114.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, March 11th. Finally, Morgan Stanley reduced their price target on shares of Duke Energy from $122.00 to $118.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Six equities research 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $122.93.

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.