Bestgate Wealth Advisors LLC Takes Position in Duke Energy Co. (NYSE:DUK)

Bestgate Wealth Advisors LLC bought a new position in Duke Energy Co. (NYSE:DUK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,221 shares of the utilities provider's stock, valued at approximately $347,000.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DUK shares. UBS Group upped their price target on Duke Energy from $123.00 to $127.00 and gave the company a "neutral" rating in a research report on Friday. Scotiabank lifted their target price on 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. increased their price objective on shares of Duke Energy from $114.00 to $121.00 and gave the company a "neutral" rating in a report on Tuesday, March 11th. Morgan Stanley raised their price objective on shares of Duke Energy from $123.00 to $128.00 and gave the company an "equal weight" rating in a research report on Thursday. Finally, BMO Capital Markets lifted their target price on Duke Energy from $123.00 to $128.00 and gave the stock 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $123.87.

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Duke Energy Price Performance

DUK traded down $1.15 during trading on Friday, hitting $119.01. The company's stock had a trading volume of 5,850,305 shares, compared to its average volume of 2,998,771. The firm's 50 day moving average price is $114.16 and its two-hundred day moving average price is $113.67. 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 stock has a market capitalization of $92.47 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 2.79 and a beta of 0.48. Duke Energy Co. has a 12 month low of $92.75 and a 12 month high of $121.47.

Duke Energy (NYSE:DUK - Get Free Report) last released its earnings results on Thursday, February 13th. The utilities provider reported $1.66 earnings per share 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%. Sell-side analysts forecast that Duke Energy Co. will post 6.33 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 14th were issued a dividend of $1.045 per share. The ex-dividend date was Friday, February 14th. This represents a $4.18 annualized dividend and a yield of 3.51%. Duke Energy's dividend payout ratio (DPR) is currently 73.20%.

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.