Nordea Investment Management AB Cuts Stock Holdings in Duke Energy Co. (NYSE:DUK)

Nordea Investment Management AB lowered its stake in Duke Energy Co. (NYSE:DUK) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 996,285 shares of the utilities provider’s stock after selling 2,684 shares during the quarter. Nordea Investment Management AB’s holdings in Duke Energy were worth $107,230,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. PBMares Wealth Management LLC grew its holdings in Duke Energy by 1.8% during the 3rd quarter. PBMares Wealth Management LLC now owns 4,886 shares of the utilities provider’s stock valued at $563,000 after buying an additional 86 shares in the last quarter. Pinnacle West Asset Management Inc. grew its holdings in shares of Duke Energy by 2.1% in the second quarter. Pinnacle West Asset Management Inc. now owns 4,425 shares of the utilities provider’s stock valued at $444,000 after purchasing an additional 90 shares in the last quarter. Castleview Partners LLC increased its position in Duke Energy by 4.9% in the third quarter. Castleview Partners LLC now owns 1,944 shares of the utilities provider’s stock worth $224,000 after purchasing an additional 90 shares during the last quarter. Kanawha Capital Management LLC lifted its position in Duke Energy by 1.4% during the third quarter. Kanawha Capital Management LLC now owns 6,591 shares of the utilities provider’s stock valued at $760,000 after purchasing an additional 92 shares during the last quarter. Finally, Baron Wealth Management LLC grew its stake in shares of Duke Energy by 3.5% in the 3rd quarter. Baron Wealth Management LLC now owns 2,730 shares of the utilities provider’s stock worth $315,000 after buying an additional 92 shares in the last quarter. Institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Down 1.4 %

Shares of Duke Energy stock opened at $106.24 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 0.70 and a debt-to-equity ratio of 1.55. The company has a market cap of $82.07 billion, a P/E ratio of 19.53, a PEG ratio of 2.90 and a beta of 0.49. The firm’s 50 day moving average price is $111.54 and its 200-day moving average price is $111.59. Duke Energy Co. has a 52-week low of $90.09 and a 52-week high of $121.25.

Duke Energy (NYSE:DUK) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.62 EPS for the quarter, missing the consensus estimate of $1.73 by ($0.11). Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. The business had revenue of $8.16 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter in the prior year, the company posted $1.94 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, sell-side analysts predict that Duke Energy Co. will post 5.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Jefferies Financial Group initiated coverage on shares of Duke Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $138.00 price target for the company. Scotiabank lifted their target price on Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. KeyCorp lowered Duke Energy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 22nd. Mizuho upgraded shares of Duke Energy from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $116.00 to $121.00 in a research report on Tuesday, October 15th. Finally, Morgan Stanley dropped their price target on shares of 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. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $122.23.

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.