Strategic Financial Concepts LLC Takes $11.09 Million Position in Duke Energy Co. (NYSE:DUK)

Strategic Financial Concepts LLC bought a new position in shares of Duke Energy Co. (NYSE:DUK) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 102,900 shares of the utilities provider’s stock, valued at approximately $11,086,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Legacy Investment Solutions LLC acquired a new stake in shares of Duke Energy in the third quarter worth $29,000. Northwest Investment Counselors LLC acquired a new stake in Duke Energy during the 3rd quarter worth about $30,000. CGC Financial Services LLC raised 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 valued at $33,000 after buying an additional 242 shares during the last quarter. Winch Advisory Services LLC lifted its holdings in shares of Duke Energy by 332.9% in the 4th quarter. Winch Advisory Services LLC now owns 316 shares of the utilities provider’s stock valued at $34,000 after buying an additional 243 shares during the period. Finally, Reston Wealth Management LLC acquired a new stake in Duke Energy during the third quarter worth about $38,000. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Stock Down 2.0 %

NYSE DUK opened at $111.69 on Friday. The business has a fifty day moving average price of $109.85 and a 200 day moving average price of $112.96. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.45 and a current ratio of 0.70. The company has a market cap of $86.27 billion, a P/E ratio of 20.53, a P/E/G ratio of 2.83 and a beta of 0.50. Duke Energy Co. has a one year low of $90.09 and a one year high of $121.25.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.05. Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. Research analysts anticipate that Duke Energy Co. will post 5.91 EPS for the current fiscal year.

Duke Energy Dividend Announcement

The business 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 3.74%. The ex-dividend date of this dividend is Friday, February 14th. Duke Energy’s payout ratio is currently 76.84%.

Analysts Set New Price Targets

Several equities research analysts have commented on DUK shares. Scotiabank upped their price objective on Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Morgan Stanley dropped their price target 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. BMO Capital Markets upped their price objective on shares of Duke Energy from $119.00 to $124.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, KeyCorp cut Duke Energy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 22nd. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.08.

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.