Magellan Asset Management Ltd Cuts Position in Duke Energy Co. (NYSE:DUK)

Magellan Asset Management Ltd reduced its position in shares of Duke Energy Co. (NYSE:DUK) by 17.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 249,889 shares of the utilities provider’s stock after selling 52,515 shares during the period. Magellan Asset Management Ltd’s holdings in Duke Energy were worth $26,923,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Duke Energy by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 72,885,939 shares of the utilities provider’s stock valued at $7,852,731,000 after acquiring an additional 779,054 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Duke Energy by 0.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 18,097,796 shares of the utilities provider’s stock valued at $1,949,857,000 after purchasing an additional 124,863 shares during the period. Geode Capital Management LLC increased its stake in Duke Energy by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 17,873,788 shares of the utilities provider’s stock worth $1,930,833,000 after buying an additional 385,612 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Duke Energy by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,562,545 shares of the utilities provider’s stock worth $922,529,000 after buying an additional 135,665 shares in the last quarter. Finally, Amundi boosted its position in Duke Energy by 29.2% in the 4th quarter. Amundi now owns 2,488,849 shares of the utilities provider’s stock valued at $269,368,000 after buying an additional 561,784 shares during the period. 65.31% of the stock is owned by institutional investors and hedge funds.

Duke Energy Stock Down 0.5 %

Duke Energy stock opened at $120.44 on Thursday. The stock has a market capitalization of $93.58 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 2.79 and a beta of 0.48. The company has a current ratio of 0.67, a quick ratio of 0.44 and a debt-to-equity ratio of 1.52. The stock has a 50 day moving average of $115.86 and a two-hundred day moving average of $113.80. Duke Energy Co. has a twelve month low of $92.75 and a twelve month high of $122.50.

Duke Energy (NYSE:DUK) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.66 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts expect that Duke Energy Co. will post 6.33 earnings per share for the current year.

Duke Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. BMO Capital Markets increased their price target on Duke Energy from $123.00 to $128.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. UBS Group raised their price objective on shares of Duke Energy from $123.00 to $127.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Guggenheim increased their target price on Duke Energy from $132.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Jefferies Financial Group raised their target price on Duke Energy from $129.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. upped their price target on Duke Energy from $114.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, March 11th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.87.

Duke Energy 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.