Pines Wealth Management LLC Makes New Investment in Duke Energy Co. (NYSE:DUK)

Pines Wealth Management LLC bought a new position in shares of Duke Energy Co. (NYSE:DUK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,744 shares of the utilities provider's stock, valued at approximately $1,032,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in shares of Duke Energy during the 3rd quarter valued at approximately $29,000. Northwest Investment Counselors LLC acquired a new stake in Duke Energy in the third quarter valued at $30,000. Reston Wealth Management LLC bought a new position in Duke Energy during the 3rd quarter valued at $38,000. Catalyst Capital Advisors LLC increased its position in shares of Duke Energy by 100.0% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 334 shares of the utilities provider's stock worth $39,000 after purchasing an additional 167 shares during the last quarter. Finally, Carolina Wealth Advisors LLC raised its stake in shares of Duke Energy by 82.7% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 360 shares of the utilities provider's stock valued at $42,000 after purchasing an additional 163 shares in the last quarter. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Price Performance

Duke Energy stock traded down $0.46 during trading hours on Wednesday, hitting $106.39. 3,790,649 shares of the company traded hands, compared to its average volume of 3,083,110. Duke Energy Co. has a 1-year low of $90.09 and a 1-year high of $121.25. The firm has a market cap of $82.18 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.88 and a beta of 0.49. The firm's 50-day simple moving average is $110.73 and its two-hundred day simple moving average is $111.87. The company has a quick ratio of 0.45, a current ratio of 0.70 and a debt-to-equity ratio of 1.55.

Duke Energy (NYSE:DUK - Get Free Report) last announced its earnings results on Thursday, November 7th. The utilities provider reported $1.62 EPS for the quarter, missing the consensus estimate of $1.73 by ($0.11). The firm had revenue of $8.16 billion for the quarter, compared to the consensus estimate of $8.06 billion. Duke Energy had a return on equity of 9.34% and a net margin of 14.31%. Duke Energy's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.94 EPS. As a group, analysts forecast that Duke Energy Co. will post 5.95 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. Investors of record on Friday, February 14th will be issued a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Friday, February 14th. Duke Energy's payout ratio is currently 76.84%.

Analyst Upgrades and Downgrades

DUK has been the topic of several research reports. Mizuho upgraded Duke Energy from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $116.00 to $121.00 in a research note on Tuesday, October 15th. Barclays boosted their price objective on shares of Duke Energy from $102.00 to $118.00 and gave the company an "overweight" rating in a research report on Tuesday, October 1st. Jefferies Financial Group initiated coverage on Duke Energy in a report on Thursday, September 19th. They set a "buy" rating and a $138.00 target price for the company. Morgan Stanley dropped their price target on 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. Finally, 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 note on Thursday, December 12th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $122.23.

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.