Duke Energy Co. (NYSE:DUK) Stock Position Lifted by State of Michigan Retirement System

State of Michigan Retirement System boosted its stake in Duke Energy Co. (NYSE:DUK) by 0.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 211,236 shares of the utilities provider’s stock after buying an additional 200 shares during the quarter. State of Michigan Retirement System’s holdings in Duke Energy were worth $20,429,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Wellington Management Group LLP lifted its holdings in shares of Duke Energy by 4.6% during the 3rd quarter. Wellington Management Group LLP now owns 23,010,030 shares of the utilities provider’s stock valued at $2,030,865,000 after buying an additional 1,002,157 shares during the last quarter. Capital Research Global Investors grew its position in Duke Energy by 4.8% in the fourth quarter. Capital Research Global Investors now owns 11,141,020 shares of the utilities provider’s stock worth $1,081,125,000 after acquiring an additional 509,039 shares in the last quarter. Morgan Stanley raised its holdings in shares of Duke Energy by 4.9% during the 3rd quarter. Morgan Stanley now owns 10,468,016 shares of the utilities provider’s stock valued at $923,907,000 after purchasing an additional 492,011 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Duke Energy by 11.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,515,388 shares of the utilities provider’s stock valued at $799,599,000 after purchasing an additional 842,458 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Duke Energy by 0.5% in the fourth quarter. Franklin Resources Inc. now owns 8,113,443 shares of the utilities provider’s stock worth $787,328,000 after purchasing an additional 42,782 shares in the last quarter. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Mizuho upped their price target on Duke Energy from $89.00 to $99.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Scotiabank dropped their price target on shares of Duke Energy from $101.00 to $94.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Bank of America upped their price objective on shares of Duke Energy from $96.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Barclays lifted their target price on shares of Duke Energy from $99.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Morgan Stanley decreased their price target on shares of Duke Energy from $103.00 to $98.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $102.33.

Duke Energy Stock Up 0.5 %

Shares of DUK opened at $99.81 on Wednesday. The company has a 50-day moving average price of $101.39 and a two-hundred day moving average price of $97.45. The company has a quick ratio of 0.50, a current ratio of 0.78 and a debt-to-equity ratio of 1.54. The stock has a market cap of $77.03 billion, a price-to-earnings ratio of 25.08, a P/E/G ratio of 2.75 and a beta of 0.45. Duke Energy Co. has a 12 month low of $83.06 and a 12 month high of $104.87.

Duke Energy (NYSE:DUK) last issued its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.05. Duke Energy had a net margin of 10.78% and a return on equity of 9.25%. The firm had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.31 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The company’s revenue was up 5.4% on a year-over-year basis. Equities analysts predict that Duke Energy Co. will post 5.97 EPS for the current fiscal year.

Duke Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 17th were given a $1.025 dividend. The ex-dividend date was Thursday, May 16th. This represents a $4.10 annualized dividend and a yield of 4.11%. Duke Energy’s dividend payout ratio is currently 103.02%.

Insider Activity

In other news, Director E Marie Mckee sold 1,695 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $102.31, for a total value of $173,415.45. Following the completion of the transaction, the director now owns 4 shares in the company, valued at approximately $409.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Lynn J. Good sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $103.30, for a total value of $1,549,500.00. Following the completion of the sale, the chief executive officer now directly owns 437,464 shares in the company, valued at $45,190,031.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director E Marie Mckee sold 1,695 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $102.31, for a total transaction of $173,415.45. Following the completion of the transaction, the director now directly owns 4 shares in the company, valued at $409.24. The disclosure for this sale can be found here. Insiders have sold a total of 26,695 shares of company stock worth $2,750,815 over the last three months. Corporate insiders own 0.14% of the company’s stock.

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.