Principal Financial Group Inc. Reduces Stock Position in Duke Energy Co. (NYSE:DUK)

Principal Financial Group Inc. reduced its position in shares of Duke Energy Co. (NYSE:DUK - Free Report) by 0.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 955,579 shares of the utilities provider's stock after selling 4,599 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Duke Energy worth $102,954,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Americana Partners LLC boosted its holdings in shares of Duke Energy by 2.9% during the fourth quarter. Americana Partners LLC now owns 4,807 shares of the utilities provider's stock worth $518,000 after purchasing an additional 135 shares during the period. Strategic Advisors LLC raised its position in Duke Energy by 2.5% during the 4th quarter. Strategic Advisors LLC now owns 68,020 shares of the utilities provider's stock valued at $7,328,000 after purchasing an additional 1,680 shares during the last quarter. Sierra Ocean LLC purchased a new stake in Duke Energy in the 4th quarter worth approximately $31,000. Pinnacle Wealth Management Advisory Group LLC grew its position in shares of Duke Energy by 5.8% in the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 5,179 shares of the utilities provider's stock worth $558,000 after buying an additional 285 shares during the last quarter. Finally, J.W. Cole Advisors Inc. increased its stake in shares of Duke Energy by 18.5% during the fourth quarter. J.W. Cole Advisors Inc. now owns 36,886 shares of the utilities provider's stock valued at $3,974,000 after buying an additional 5,749 shares during the period. Hedge funds and other institutional investors own 65.31% of the company's stock.

Analysts Set New Price Targets

DUK has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their price objective on shares of Duke Energy from $129.00 to $132.00 and gave the company a "buy" rating in a research report on Friday. Morgan Stanley cut their target price 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. BMO Capital Markets increased their price target on shares of Duke Energy from $119.00 to $124.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Finally, Scotiabank lifted their price objective on Duke Energy from $113.00 to $120.00 and gave the company a "sector perform" rating in a research report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Duke Energy has an average rating of "Moderate Buy" and a consensus target price of $121.62.

Duke Energy Stock Up 2.1 %

DUK stock traded up $2.42 on Friday, reaching $115.58. 4,423,961 shares of the company traded hands, compared to its average volume of 3,366,634. Duke Energy Co. has a one year low of $90.09 and a one year high of $121.25. The company has a market cap of $89.28 billion, a P/E ratio of 20.24, a price-to-earnings-growth ratio of 2.76 and a beta of 0.50. The firm has a fifty day simple moving average of $109.96 and a 200-day simple moving average of $112.97. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.67 and a quick ratio of 0.44.

Duke Energy (NYSE:DUK - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.05. Duke Energy had a return on equity of 9.50% and a net margin of 14.90%. Research analysts anticipate that Duke Energy Co. will post 6.33 earnings per share for the current year.

Duke Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 14th will be given a dividend of $1.045 per share. This represents a $4.18 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Friday, February 14th. 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.