Cinctive Capital Management LP Grows Stock Holdings in Duke Energy Co. (NYSE:DUK)

Cinctive Capital Management LP increased its holdings in shares of Duke Energy Co. (NYSE:DUK) by 17.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,864 shares of the utilities provider’s stock after purchasing an additional 17,229 shares during the period. Cinctive Capital Management LP’s holdings in Duke Energy were worth $13,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DUK. PBMares Wealth Management LLC increased its position in shares of Duke Energy by 1.8% in the 3rd quarter. PBMares Wealth Management LLC now owns 4,886 shares of the utilities provider’s stock valued at $563,000 after purchasing an additional 86 shares during the last quarter. Pinnacle West Asset Management Inc. grew its stake in shares of Duke Energy by 2.1% during the second quarter. Pinnacle West Asset Management Inc. now owns 4,425 shares of the utilities provider’s stock worth $444,000 after purchasing an additional 90 shares in the last quarter. Castleview Partners LLC increased its holdings in Duke Energy by 4.9% in the third quarter. Castleview Partners LLC now owns 1,944 shares of the utilities provider’s stock valued at $224,000 after buying an additional 90 shares during the last quarter. Kanawha Capital Management LLC raised its stake in Duke Energy by 1.4% in the third quarter. Kanawha Capital Management LLC now owns 6,591 shares of the utilities provider’s stock valued at $760,000 after buying an additional 92 shares in the last quarter. Finally, Baron Wealth Management LLC lifted its holdings in Duke Energy by 3.5% during the 3rd quarter. Baron Wealth Management LLC now owns 2,730 shares of the utilities provider’s stock worth $315,000 after buying an additional 92 shares during the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Price Performance

Shares of NYSE DUK opened at $117.05 on Monday. The stock has a fifty day moving average price of $115.18 and a 200 day moving average price of $110.29. Duke Energy Co. has a 1-year low of $90.09 and a 1-year high of $121.25. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.70 and a quick ratio of 0.45. The company has a market cap of $90.42 billion, a PE ratio of 21.52, a P/E/G ratio of 3.09 and a beta of 0.47.

Duke Energy (NYSE:DUK) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.62 EPS for the quarter, missing the consensus estimate of $1.73 by ($0.11). Duke Energy had a return on equity of 9.34% and a net margin of 14.31%. The firm had revenue of $8.16 billion during the quarter, compared to analyst estimates of $8.06 billion. During the same quarter last year, the business posted $1.94 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. Sell-side analysts forecast that Duke Energy Co. will post 5.96 EPS for the current year.

Duke Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Friday, November 15th. Duke Energy’s dividend payout ratio (DPR) is 76.84%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DUK. Evercore ISI raised their target price on Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Bank of America boosted their price objective on shares of Duke Energy from $116.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Morgan Stanley dropped their target price on shares of Duke Energy from $122.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. The Goldman Sachs Group lifted their price target on shares of Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, Barclays raised their price objective on Duke Energy from $102.00 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.69.

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.