Greatmark Investment Partners Inc. Decreases Stock Position in Duke Energy Co. (NYSE:DUK)

Greatmark Investment Partners Inc. lessened its stake in Duke Energy Co. (NYSE:DUK) by 2.2% in the fourth quarter, Holdings Channel reports. The fund owned 4,391 shares of the utilities provider’s stock after selling 100 shares during the quarter. Greatmark Investment Partners Inc.’s holdings in Duke Energy were worth $473,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Analyst IMS Investment Management Services Ltd. raised its position in shares of Duke Energy by 22.9% in the 4th quarter. Analyst IMS Investment Management Services Ltd. now owns 2,367 shares of the utilities provider’s stock valued at $255,000 after purchasing an additional 441 shares in the last quarter. Intact Investment Management Inc. raised its position in shares of Duke Energy by 136.4% in the 4th quarter. Intact Investment Management Inc. now owns 117,100 shares of the utilities provider’s stock valued at $12,616,000 after purchasing an additional 67,570 shares in the last quarter. Atala Financial Inc acquired a new position in shares of Duke Energy in the 4th quarter valued at approximately $130,000. Commonwealth Equity Services LLC raised its position in shares of Duke Energy by 1.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 585,298 shares of the utilities provider’s stock valued at $63,060,000 after purchasing an additional 7,060 shares in the last quarter. Finally, IAG Wealth Partners LLC acquired a new position in shares of Duke Energy in the 4th quarter valued at approximately $40,000. 65.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DUK. Jefferies Financial Group upped their price target on Duke Energy from $129.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, February 21st. 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 note on Thursday, December 12th. BMO Capital Markets increased their price target on Duke Energy from $123.00 to $128.00 and gave the stock an “outperform” rating in a research note on Tuesday. Morgan Stanley decreased their price target on Duke Energy from $122.00 to $118.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. increased their price target on Duke Energy from $114.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $122.93.

Duke Energy Trading Up 1.8 %

NYSE:DUK opened at $120.29 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.67 and a debt-to-equity ratio of 1.52. Duke Energy Co. has a 1-year low of $92.75 and a 1-year high of $121.25. The firm has a market capitalization of $93.40 billion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 2.79 and a beta of 0.48. The stock has a fifty day simple moving average of $112.86 and a 200 day simple moving average of $113.45.

Duke Energy (NYSE:DUK) last released 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 return on equity of 9.50% and a net margin of 14.90%. Sell-side analysts forecast that Duke Energy Co. will post 6.33 earnings per share for the current year.

Duke Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 14th will be given a dividend of $1.045 per share. The ex-dividend date is Friday, February 14th. This represents a $4.18 dividend on an annualized basis and a yield of 3.48%. Duke Energy’s payout ratio is presently 73.20%.

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.