Modera Wealth Management LLC Decreases Stock Position in Duke Energy Co. (NYSE:DUK)

Modera Wealth Management LLC cut its position in Duke Energy Co. (NYSE:DUK) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,685 shares of the utilities provider’s stock after selling 561 shares during the quarter. Modera Wealth Management LLC’s holdings in Duke Energy were worth $2,336,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in DUK. Groupama Asset Managment bought a new position in shares of Duke Energy in the third quarter worth $2,537,000. Zimmer Partners LP purchased a new stake in Duke Energy during the 3rd quarter worth about $166,263,000. Assenagon Asset Management S.A. boosted its stake in Duke Energy by 155.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,873,321 shares of the utilities provider’s stock worth $201,832,000 after purchasing an additional 1,138,979 shares during the period. Capital Wealth Planning LLC grew its holdings in Duke Energy by 116.5% during the 4th quarter. Capital Wealth Planning LLC now owns 2,065,344 shares of the utilities provider’s stock valued at $222,520,000 after buying an additional 1,111,581 shares in the last quarter. Finally, Brookfield Corp ON lifted its holdings in shares of Duke Energy by 112.6% in the third quarter. Brookfield Corp ON now owns 1,002,811 shares of the utilities provider’s stock worth $115,624,000 after buying an additional 531,073 shares in the last quarter. Institutional investors own 65.31% of the company’s stock.

Duke Energy Price Performance

Shares of Duke Energy stock opened at $118.62 on Tuesday. The firm has a market capitalization of $91.63 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 2.79 and a beta of 0.50. Duke Energy Co. has a 12 month low of $90.22 and a 12 month high of $121.25. The business’s 50-day moving average price is $111.23 and its 200-day moving average price is $113.16. The company has a current ratio of 0.67, a quick ratio of 0.44 and a debt-to-equity ratio of 1.52.

Duke Energy (NYSE:DUK) last released its earnings results on Thursday, February 13th. The utilities provider reported $1.66 EPS for the quarter, beating the consensus estimate of $1.61 by $0.05. Duke Energy had a net margin of 14.90% and a return on equity of 9.50%. Sell-side analysts forecast that Duke Energy Co. will post 6.33 EPS for the current fiscal year.

Duke Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 14th will be issued a dividend of $1.045 per share. This represents a $4.18 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Friday, February 14th. Duke Energy’s dividend payout ratio is presently 73.20%.

Wall Street Analysts Forecast Growth

DUK has been the subject of several recent analyst reports. Morgan Stanley reduced their price objective 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. Jefferies Financial Group boosted their price target on shares of 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 objective on Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Finally, BMO Capital Markets boosted their target price on Duke Energy from $119.00 to $124.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.62.

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.