Fairhaven Wealth Management LLC Boosts Stock Holdings in Duke Energy Co. (NYSE:DUK)

Fairhaven Wealth Management LLC boosted its stake in Duke Energy Co. (NYSE:DUK) by 0.6% during the 4th quarter, Holdings Channel reports. The firm owned 28,861 shares of the utilities provider’s stock after buying an additional 182 shares during the quarter. Duke Energy makes up about 1.0% of Fairhaven Wealth Management LLC’s holdings, making the stock its 22nd biggest position. Fairhaven Wealth Management LLC’s holdings in Duke Energy were worth $3,109,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in Duke Energy by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,308 shares of the utilities provider’s stock valued at $5,834,000 after buying an additional 13,056 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Duke Energy by 18.7% in the third quarter. Arkadios Wealth Advisors now owns 11,089 shares of the utilities provider’s stock valued at $1,279,000 after purchasing an additional 1,747 shares in the last quarter. Modera Wealth Management LLC increased its position in Duke Energy by 2.7% in the third quarter. Modera Wealth Management LLC now owns 22,246 shares of the utilities provider’s stock worth $2,565,000 after purchasing an additional 593 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in Duke Energy by 10.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 208,291 shares of the utilities provider’s stock valued at $24,185,000 after purchasing an additional 20,183 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in Duke Energy by 6.9% during the third quarter. State of Alaska Department of Revenue now owns 89,685 shares of the utilities provider’s stock valued at $10,340,000 after purchasing an additional 5,770 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on DUK shares. Morgan Stanley decreased 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 report on Friday, November 22nd. 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 note on Thursday, December 12th. BMO Capital Markets boosted their target price on Duke Energy from $119.00 to $124.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, Jefferies Financial Group raised 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 analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.62.

Duke Energy Stock Performance

DUK stock opened at $115.86 on Tuesday. The firm has a market cap of $89.50 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 2.79 and a beta of 0.50. Duke Energy Co. has a twelve month low of $90.09 and a twelve month high of $121.25. 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 business’s fifty day simple moving average is $110.27 and its two-hundred day simple moving average is $113.03.

Duke Energy (NYSE:DUK) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.05. Duke Energy had a net margin of 14.90% and a return on equity of 9.50%. Analysts predict that Duke Energy Co. will post 6.33 earnings per share for the current year.

Duke Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.045 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $4.18 annualized dividend and a yield of 3.61%. Duke Energy’s payout ratio is currently 73.20%.

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.