Welch & Forbes LLC Has $6.73 Million Position in Duke Energy Co. (NYSE:DUK)

Welch & Forbes LLC lowered its position in Duke Energy Co. (NYSE:DUK) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 62,455 shares of the utilities provider’s stock after selling 335 shares during the quarter. Welch & Forbes LLC’s holdings in Duke Energy were worth $6,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in DUK. Legacy Investment Solutions LLC acquired a new stake in Duke Energy in the third quarter valued at $29,000. Sierra Ocean LLC acquired a new stake in Duke Energy in the fourth quarter valued at $31,000. CGC Financial Services LLC lifted its stake in Duke Energy by 366.7% in the fourth quarter. CGC Financial Services LLC now owns 308 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 242 shares during the last quarter. Winch Advisory Services LLC lifted its stake in Duke Energy by 332.9% in the fourth quarter. Winch Advisory Services LLC now owns 316 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 243 shares during the last quarter. Finally, Centricity Wealth Management LLC acquired a new stake in shares of Duke Energy during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Price Performance

DUK stock opened at $114.79 on Friday. 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 $92.75 and a 12 month high of $121.25. The firm has a market cap of $89.13 billion, a P/E ratio of 20.10, a P/E/G ratio of 2.79 and a beta of 0.48. The company’s 50-day moving average price is $111.64 and its two-hundred day moving average price is $113.22.

Duke Energy (NYSE:DUK) last released its earnings results on Thursday, February 13th. The utilities provider reported $1.66 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%. On average, analysts anticipate that Duke Energy Co. will post 6.33 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 14th will be issued a $1.045 dividend. This represents a $4.18 annualized dividend and a yield of 3.64%. The ex-dividend date is Friday, February 14th. Duke Energy’s dividend payout ratio is currently 73.20%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Guggenheim raised their target price on shares of Duke Energy from $132.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley cut their target price on shares of Duke Energy from $122.00 to $118.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Scotiabank raised their target price on shares of Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. 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 research note on Friday, February 21st. Finally, BMO Capital Markets raised their target price on shares of Duke Energy from $119.00 to $124.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.57.

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.