Laurel Wealth Advisors LLC Acquires 68,977 Shares of Duke Energy Co. (NYSE:DUK)

Laurel Wealth Advisors LLC lifted its stake in Duke Energy Co. (NYSE:DUK) by 86.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 148,703 shares of the utilities provider’s stock after purchasing an additional 68,977 shares during the period. Duke Energy accounts for 2.5% of Laurel Wealth Advisors LLC’s portfolio, making the stock its 9th largest position. Laurel Wealth Advisors LLC’s holdings in Duke Energy were worth $16,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in Duke Energy during the 3rd quarter worth approximately $29,000. Northwest Investment Counselors LLC bought a new position in Duke Energy during the 3rd quarter worth about $30,000. Reston Wealth Management LLC bought a new position in shares of Duke Energy during the third quarter worth about $38,000. Catalyst Capital Advisors LLC lifted its stake in Duke Energy by 100.0% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 334 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 167 shares in the last quarter. Finally, Carolina Wealth Advisors LLC boosted its holdings in Duke Energy by 82.7% during the third quarter. Carolina Wealth Advisors LLC now owns 360 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 163 shares during the last quarter. 65.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on DUK. Barclays raised their price target on Duke Energy from $102.00 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Scotiabank raised 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. Jefferies Financial Group assumed coverage on Duke Energy in a report on Thursday, September 19th. They set a “buy” rating and a $138.00 target price on the stock. Mizuho raised shares of Duke Energy from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $116.00 to $121.00 in a research report on Tuesday, October 15th. Finally, BMO Capital Markets increased their price target on shares of Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Six 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $122.23.

Duke Energy Price Performance

Duke Energy stock opened at $106.77 on Wednesday. The stock has a fifty day moving average of $110.73 and a 200-day moving average of $111.87. The stock has a market capitalization of $82.48 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 2.88 and a beta of 0.49. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.45 and a current ratio of 0.70. Duke Energy Co. has a 52 week low of $90.09 and a 52 week high of $121.25.

Duke Energy (NYSE:DUK) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11). Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. The company had revenue of $8.16 billion during the quarter, compared to analyst estimates of $8.06 billion. During the same quarter in the prior year, the business earned $1.94 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts expect that Duke Energy Co. will post 5.95 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 14th will be paid a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Friday, February 14th. Duke Energy’s dividend payout ratio is currently 76.84%.

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.