IMG Wealth Management Inc. Makes New Investment in Duke Energy Co. (NYSE:DUK)

IMG Wealth Management Inc. bought a new position in Duke Energy Co. (NYSE:DUK) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,365 shares of the utilities provider’s stock, valued at approximately $147,000.

Several other hedge funds also recently bought and sold shares of DUK. United Bank raised its holdings in Duke Energy by 2.7% in the third quarter. United Bank now owns 4,764 shares of the utilities provider’s stock worth $549,000 after purchasing an additional 127 shares during the period. KBC Group NV raised its holdings in Duke Energy by 9.0% in the third quarter. KBC Group NV now owns 58,543 shares of the utilities provider’s stock worth $6,750,000 after purchasing an additional 4,847 shares during the period. ING Groep NV acquired a new stake in Duke Energy in the third quarter worth $2,825,000. Signature Estate & Investment Advisors LLC raised its holdings in shares of Duke Energy by 6.8% during the third quarter. Signature Estate & Investment Advisors LLC now owns 3,194 shares of the utilities provider’s stock worth $368,000 after acquiring an additional 204 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of Duke Energy by 9.4% during the third quarter. Empowered Funds LLC now owns 16,601 shares of the utilities provider’s stock worth $1,914,000 after acquiring an additional 1,432 shares during the period. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DUK. Morgan Stanley dropped their price objective on shares of Duke Energy from $122.00 to $118.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Scotiabank raised their price objective on shares of Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Jefferies Financial Group raised their price objective on shares of Duke Energy from $129.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, February 21st. BMO Capital Markets lifted their price target on shares of Duke Energy from $123.00 to $128.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Duke Energy from $114.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, March 11th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.93.

Duke Energy Stock Performance

Shares of DUK opened at $120.29 on Monday. The firm has a 50-day moving average of $112.86 and a 200-day moving average of $113.46. Duke Energy Co. has a one year low of $92.75 and a one year high of $121.25. The company has a market cap of $93.40 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 2.79 and a beta of 0.48. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.67 and a quick ratio of 0.44.

Duke Energy (NYSE:DUK) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.66 EPS 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%. As a group, equities analysts forecast that Duke Energy Co. will post 6.33 earnings per share for the current 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 dividend yield of 3.48%. The ex-dividend date of this dividend is Friday, February 14th. Duke Energy’s payout ratio is 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.