Parr Mcknight Wealth Management Group LLC Takes $1.98 Million Position in Duke Energy Co. (NYSE:DUK)

Parr Mcknight Wealth Management Group LLC purchased a new position in Duke Energy Co. (NYSE:DUK) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 18,417 shares of the utilities provider’s stock, valued at approximately $1,984,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Parkworth Wealth Management Inc. acquired a new stake in Duke Energy during the fourth quarter valued at approximately $28,000. WealthTrak Capital Management LLC acquired a new position in Duke Energy in the fourth quarter worth approximately $30,000. Sierra Ocean LLC bought a new position in shares of Duke Energy in the fourth quarter valued at $31,000. Rakuten Securities Inc. lifted its position in shares of Duke Energy by 1,500.0% during the 4th quarter. Rakuten Securities Inc. now owns 288 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 270 shares during the last quarter. Finally, CGC Financial Services LLC boosted its stake in shares of Duke Energy by 366.7% during the 4th quarter. CGC Financial Services LLC now owns 308 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 242 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DUK. Morgan Stanley cut their target price on Duke Energy from $126.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Thursday. Guggenheim boosted their price objective on Duke Energy from $132.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Jefferies Financial Group raised their target price on shares of Duke Energy from $129.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Barclays boosted their price target on shares of Duke Energy from $111.00 to $123.00 and gave the company an “overweight” rating in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Duke Energy from $114.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 11th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $125.81.

Duke Energy Trading Down 0.7%

Shares of NYSE:DUK opened at $115.59 on Friday. The firm has a fifty day moving average of $119.09 and a two-hundred day moving average of $114.62. The company has a quick ratio of 0.44, a current ratio of 0.67 and a debt-to-equity ratio of 1.52. Duke Energy Co. has a 12-month low of $99.21 and a 12-month high of $125.27. The firm has a market capitalization of $89.84 billion, a P/E ratio of 20.24, a price-to-earnings-growth ratio of 2.79 and a beta of 0.39.

Duke Energy (NYSE:DUK) last released its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.17. Duke Energy had a return on equity of 9.50% and a net margin of 14.90%. The firm had revenue of $8.25 billion during the quarter, compared to analysts’ expectations of $7.70 billion. During the same quarter last year, the firm earned $1.44 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities analysts expect that Duke Energy Co. will post 6.33 EPS for the current fiscal year.

Duke Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 16th will be paid a $1.045 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $4.18 annualized dividend and a dividend yield of 3.62%. Duke Energy’s payout ratio is 69.32%.

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.