Maryland State Retirement & Pension System Sells 2,931 Shares of Duke Energy Co. (NYSE:DUK)

Maryland State Retirement & Pension System trimmed its holdings in shares of Duke Energy Co. (NYSE:DUK) by 6.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 41,566 shares of the utilities provider’s stock after selling 2,931 shares during the period. Maryland State Retirement & Pension System’s holdings in Duke Energy were worth $4,478,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Bailard Inc. grew its stake in shares of Duke Energy by 10.9% in the 4th quarter. Bailard Inc. now owns 31,921 shares of the utilities provider’s stock valued at $3,439,000 after purchasing an additional 3,139 shares during the period. KMG Fiduciary Partners LLC raised its stake in Duke Energy by 5.5% during the fourth quarter. KMG Fiduciary Partners LLC now owns 52,097 shares of the utilities provider’s stock worth $5,613,000 after acquiring an additional 2,705 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Duke Energy by 25.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 35,755 shares of the utilities provider’s stock valued at $3,852,000 after acquiring an additional 7,319 shares during the period. First Business Financial Services Inc. acquired a new stake in shares of Duke Energy in the 4th quarter valued at $384,000. Finally, Pines Wealth Management LLC bought a new stake in shares of Duke Energy in the 4th quarter worth about $1,032,000. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Stock Performance

DUK stock opened at $119.31 on Thursday. Duke Energy Co. has a twelve month low of $92.75 and a twelve month high of $121.47. The company has a quick ratio of 0.44, a current ratio of 0.67 and a debt-to-equity ratio of 1.52. The company has a market cap of $92.64 billion, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 2.79 and a beta of 0.48. The business’s fifty day moving average is $113.66 and its 200-day moving average is $113.61.

Duke Energy (NYSE:DUK) last issued its earnings results on Thursday, February 13th. The utilities provider reported $1.66 earnings per share (EPS) for the quarter, topping 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 announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 14th were issued a $1.045 dividend. The ex-dividend date was Friday, February 14th. This represents a $4.18 annualized dividend and a yield of 3.50%. Duke Energy’s dividend payout ratio (DPR) is presently 73.20%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on DUK shares. Morgan Stanley decreased their price objective on shares of Duke Energy from $122.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group lifted their price objective on Duke Energy from $129.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Guggenheim increased their target price on Duke Energy from $132.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Scotiabank upped their price target on shares of Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Finally, BMO Capital Markets raised their price objective on shares of Duke Energy from $123.00 to $128.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $122.93.

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.