State of Michigan Retirement System Sells 600 Shares of Duke Energy Co. (NYSE:DUK)

State of Michigan Retirement System decreased its position in Duke Energy Co. (NYSE:DUK) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 209,636 shares of the utilities provider’s stock after selling 600 shares during the period. State of Michigan Retirement System’s holdings in Duke Energy were worth $22,586,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in shares of Duke Energy in the third quarter valued at $29,000. Sierra Ocean LLC bought a new stake in Duke Energy in the 4th quarter valued at $31,000. CGC Financial Services LLC raised its stake in shares of Duke Energy by 366.7% in the 4th quarter. CGC Financial Services LLC now owns 308 shares of the utilities provider’s stock valued at $33,000 after buying an additional 242 shares in the last quarter. Winch Advisory Services LLC boosted its position in shares of Duke Energy by 332.9% during the 4th quarter. Winch Advisory Services LLC now owns 316 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 243 shares in the last quarter. Finally, Centricity Wealth Management LLC acquired a new position in Duke Energy in the fourth quarter worth about $36,000. Institutional investors own 65.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. BMO Capital Markets raised 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. Morgan Stanley decreased their price target 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. Jefferies Financial Group increased their price objective on Duke Energy from $129.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. 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 report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Duke Energy has an average rating of “Moderate Buy” and a consensus price target of $121.62.

Duke Energy Stock Down 1.9 %

Shares of NYSE DUK opened at $116.46 on Wednesday. Duke Energy Co. has a 12-month low of $92.33 and a 12-month high of $121.25. The company has a market cap of $89.96 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 2.79 and a beta of 0.50. 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 firm’s 50-day simple moving average is $111.38 and its 200 day simple moving average is $113.19.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results 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%. On average, research analysts expect that Duke Energy Co. will post 6.33 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.045 per share. This represents a $4.18 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Friday, February 14th. Duke Energy’s dividend payout ratio (DPR) is presently 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.