Covington Investment Advisors Inc. Sells 190 Shares of Duke Energy Co. (NYSE:DUK)

Covington Investment Advisors Inc. lessened its holdings in shares of Duke Energy Co. (NYSE:DUK) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,498 shares of the utilities provider’s stock after selling 190 shares during the period. Covington Investment Advisors Inc.’s holdings in Duke Energy were worth $5,333,000 at the end of the most recent quarter.

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

Duke Energy Stock Up 0.5 %

Shares of NYSE:DUK opened at $117.67 on Friday. The business has a fifty day simple moving average of $114.97 and a 200 day simple moving average of $113.71. Duke Energy Co. has a 12-month low of $92.75 and a 12-month high of $121.47. The firm has a market cap of $91.43 billion, a P/E ratio of 20.61, 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 (NYSE:DUK) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.66 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%. Analysts predict that Duke Energy Co. will post 6.33 earnings per share for the current year.

Duke Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 14th were paid a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend was Friday, February 14th. Duke Energy’s dividend payout ratio is presently 73.20%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DUK. Scotiabank lifted their price objective on shares of Duke Energy from $113.00 to $120.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. upped their price objective on Duke Energy from $114.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 11th. Morgan Stanley lifted their target price on Duke Energy from $123.00 to $128.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Guggenheim increased their target price on shares of Duke Energy from $132.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Finally, BMO Capital Markets lifted their price target on shares of Duke Energy from $123.00 to $128.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Seven 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, Duke Energy presently has a consensus rating of “Moderate Buy” and an average price target of $123.87.

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.