Duke Energy Co. (NYSE:DUK) Shares Purchased by Cannon Wealth Management Services LLC

Cannon Wealth Management Services LLC increased its position in shares of Duke Energy Co. (NYSE:DUK) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,530 shares of the utilities provider’s stock after purchasing an additional 265 shares during the quarter. Duke Energy accounts for 1.9% of Cannon Wealth Management Services LLC’s investment portfolio, making the stock its 17th biggest holding. Cannon Wealth Management Services LLC’s holdings in Duke Energy were worth $2,211,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Midwest Capital Advisors LLC purchased a new position in Duke Energy in the fourth quarter valued at about $40,000. Y Intercept Hong Kong Ltd boosted its holdings in Duke Energy by 5.2% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 16,508 shares of the utilities provider’s stock valued at $1,779,000 after purchasing an additional 815 shares during the last quarter. Partners Wealth Management LLC purchased a new position in Duke Energy in the fourth quarter valued at about $274,000. Summit Asset Management LLC boosted its holdings in Duke Energy by 25.4% in the fourth quarter. Summit Asset Management LLC now owns 3,955 shares of the utilities provider’s stock valued at $426,000 after purchasing an additional 800 shares during the last quarter. Finally, Atlantic Family Wealth LLC purchased a new position in Duke Energy in the fourth quarter valued at about $204,000. 65.31% of the stock is owned by institutional investors and hedge funds.

Duke Energy Trading Up 2.1 %

Shares of NYSE:DUK opened at $115.58 on Monday. Duke Energy Co. has a 52-week low of $90.09 and a 52-week high of $121.25. The company has a market cap of $89.28 billion, a P/E ratio of 20.24, a P/E/G ratio of 2.79 and a beta of 0.50. The stock’s 50-day moving average is $110.10 and its 200-day moving average is $113.00. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.44 and a current ratio of 0.67.

Duke Energy (NYSE:DUK) 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%. Equities research analysts predict that Duke Energy Co. will post 6.33 earnings per share for the current year.

Duke Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Friday, February 14th. Duke Energy’s dividend payout ratio is 73.20%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley cut their price objective on 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. Scotiabank increased their price target on Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. BMO Capital Markets increased their price target on Duke Energy from $119.00 to $124.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, Jefferies Financial Group increased their price target on Duke Energy from $129.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $121.62.

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.