Parallel Advisors LLC Lowers Stock Holdings in Duke Energy Co. (NYSE:DUK)

Parallel Advisors LLC reduced its holdings in Duke Energy Co. (NYSE:DUK) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,284 shares of the utilities provider’s stock after selling 147 shares during the quarter. Parallel Advisors LLC’s holdings in Duke Energy were worth $893,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Parkworth Wealth Management Inc. acquired a new stake in shares of Duke Energy in the 4th quarter valued at approximately $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of Duke Energy in the 3rd quarter valued at approximately $29,000. Sierra Ocean LLC acquired a new stake in shares of Duke Energy in the 4th quarter valued at approximately $31,000. Rakuten Securities Inc. raised its holdings in Duke Energy by 1,500.0% during the fourth quarter. Rakuten Securities Inc. now owns 288 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 270 shares during the last quarter. Finally, CGC Financial Services LLC raised its holdings in Duke Energy by 366.7% during the fourth quarter. CGC Financial Services LLC now owns 308 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 242 shares during the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.

Duke Energy Price Performance

Shares of NYSE:DUK opened at $119.31 on Thursday. The company has a market cap of $92.64 billion, a P/E ratio of 20.89, a P/E/G ratio of 2.79 and a beta of 0.48. 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 52 week low of $92.75 and a 52 week high of $121.47. The business has a fifty day simple moving average of $113.66 and a 200-day simple moving average of $113.61.

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

Duke Energy Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Friday, February 14th. Duke Energy’s dividend payout ratio (DPR) is presently 73.20%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DUK. Jefferies Financial Group lifted their price objective on Duke Energy from $129.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Scotiabank lifted their price objective on Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Morgan Stanley reduced their price objective on Duke Energy from $122.00 to $118.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. BMO Capital Markets lifted their price objective on Duke Energy from $123.00 to $128.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. boosted their price target on Duke Energy from $114.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, March 11th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Duke Energy has a consensus rating of “Moderate Buy” and an average target price of $122.93.

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.