Summit Global Investments Purchases New Holdings in Duke Energy Co. (NYSE:DUK)

Summit Global Investments bought a new position in Duke Energy Co. (NYSE:DUK - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,009 shares of the utilities provider's stock, valued at approximately $1,846,000.

A number of other large investors have also recently made changes to their positions in DUK. PBMares Wealth Management LLC increased its holdings in shares of Duke Energy by 1.8% in the third quarter. PBMares Wealth Management LLC now owns 4,886 shares of the utilities provider's stock valued at $563,000 after purchasing an additional 86 shares during the last quarter. Pinnacle West Asset Management Inc. increased its holdings in shares of Duke Energy by 2.1% in the second quarter. Pinnacle West Asset Management Inc. now owns 4,425 shares of the utilities provider's stock valued at $444,000 after purchasing an additional 90 shares during the last quarter. Castleview Partners LLC increased its holdings in shares of Duke Energy by 4.9% in the third quarter. Castleview Partners LLC now owns 1,944 shares of the utilities provider's stock valued at $224,000 after purchasing an additional 90 shares during the last quarter. Kanawha Capital Management LLC increased its holdings in shares of Duke Energy by 1.4% in the third quarter. Kanawha Capital Management LLC now owns 6,591 shares of the utilities provider's stock valued at $760,000 after purchasing an additional 92 shares during the last quarter. Finally, Chicago Capital LLC increased its stake in Duke Energy by 0.9% during the third quarter. Chicago Capital LLC now owns 10,163 shares of the utilities provider's stock worth $1,172,000 after acquiring an additional 93 shares during the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Stock Up 1.9 %

NYSE DUK traded up $2.15 during trading on Friday, reaching $113.23. 3,788,549 shares of the company's stock were exchanged, compared to its average volume of 3,321,600. The stock has a market cap of $87.44 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 3.10 and a beta of 0.47. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.53 and a current ratio of 0.81. The company has a 50 day moving average price of $115.84 and a two-hundred day moving average price of $108.73. Duke Energy Co. has a 1 year low of $86.61 and a 1 year high of $121.25.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.73 by ($0.11). The business had revenue of $8.16 billion for the quarter, compared to analysts' expectations of $8.06 billion. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. The firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $1.94 earnings per share. On average, equities research analysts anticipate that Duke Energy Co. will post 5.98 EPS for the current fiscal year.

Duke Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $1.045 dividend. This represents a $4.18 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy's payout ratio is currently 76.98%.

Analysts Set New Price Targets

DUK has been the subject of several recent analyst reports. The Goldman Sachs Group raised their target price on Duke Energy from $102.00 to $113.00 and gave the stock a "neutral" rating in a research note on Monday, August 12th. KeyCorp cut Duke Energy from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price objective on Duke Energy from $111.00 to $120.00 and gave the company a "neutral" rating in a research note on Monday, August 12th. Mizuho raised Duke Energy from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $116.00 to $121.00 in a research note on Tuesday, October 15th. Finally, Evercore ISI lifted their price objective on Duke Energy from $108.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $121.85.

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.