Corebridge Financial Inc. Decreases Position in Duke Energy Co. (NYSE:DUK)

Corebridge Financial Inc. lowered its position in Duke Energy Co. (NYSE:DUK) by 4.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 177,541 shares of the utilities provider’s stock after selling 8,390 shares during the period. Corebridge Financial Inc.’s holdings in Duke Energy were worth $19,128,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in DUK. Parkworth Wealth Management Inc. acquired a new position in Duke Energy during the fourth quarter worth about $28,000. Legacy Investment Solutions LLC purchased a new position in shares of Duke Energy during the 3rd quarter worth approximately $29,000. Sierra Ocean LLC acquired a new position in shares of Duke Energy during the 4th quarter worth approximately $31,000. Rakuten Securities Inc. grew its holdings in Duke Energy by 1,500.0% during the 4th quarter. Rakuten Securities Inc. now owns 288 shares of the utilities provider’s stock valued at $31,000 after buying an additional 270 shares during the last quarter. Finally, CGC Financial Services LLC increased its position in Duke Energy by 366.7% during the fourth quarter. CGC Financial Services LLC now owns 308 shares of the utilities provider’s stock worth $33,000 after buying an additional 242 shares in the last quarter. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Stock Down 0.8 %

Shares of NYSE:DUK opened at $118.12 on Tuesday. The stock has a 50-day simple moving average of $114.39 and a 200-day simple moving average of $113.66. The stock has a market capitalization of $91.78 billion, a P/E ratio of 20.69, a PEG ratio of 2.79 and a beta of 0.48. Duke Energy Co. has a 1 year low of $92.75 and a 1 year high of $121.47. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.44 and a current ratio of 0.67.

Duke Energy (NYSE:DUK) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.66 earnings per share (EPS) for the quarter, topping 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%. 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 disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 14th were paid a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date was Friday, February 14th. Duke Energy’s dividend payout ratio is presently 73.20%.

Analysts Set New Price Targets

DUK has been the topic of a number of analyst reports. Jefferies Financial Group increased their price objective on Duke Energy from $129.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, February 21st. UBS Group lifted their price target on shares of Duke Energy from $123.00 to $127.00 and gave the stock a “neutral” rating in a report on Friday. Guggenheim upped their price objective on shares of Duke Energy from $132.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lifted their target price on shares of Duke Energy from $114.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 11th. Finally, BMO Capital Markets boosted their price target on Duke Energy from $123.00 to $128.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Duke Energy presently has an average rating of “Moderate Buy” and an average price target of $123.87.

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.