Allspring Global Investments Holdings LLC Decreases Stake in Duke Energy Corporation (NYSE:DUK)

Allspring Global Investments Holdings LLC trimmed its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 6.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 558,351 shares of the utilities provider's stock after selling 39,222 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.07% of Duke Energy worth $67,600,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of DUK. Vermillion Wealth Management Inc. acquired a new stake in shares of Duke Energy in the 4th quarter valued at $27,000. Parkworth Wealth Management Inc. acquired a new stake in Duke Energy during the fourth quarter worth approximately $28,000. Mattson Financial Services LLC acquired a new stake in Duke Energy during the fourth quarter worth approximately $28,000. WealthTrak Capital Management LLC acquired a new stake in Duke Energy during the fourth quarter worth approximately $30,000. Finally, Rakuten Securities Inc. raised its holdings in Duke Energy by 1,500.0% during the fourth quarter. Rakuten Securities Inc. now owns 288 shares of the utilities provider's stock worth $31,000 after purchasing an additional 270 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on DUK shares. Citigroup raised their price objective on shares of Duke Energy from $130.00 to $142.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Morgan Stanley cut their price objective on shares of Duke Energy from $125.00 to $124.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. Guggenheim raised their price objective on shares of Duke Energy from $132.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Raymond James Financial started coverage on shares of Duke Energy in a research report on Friday, June 13th. They set a "market perform" rating on the stock. Finally, BMO Capital Markets lowered their target price on shares of Duke Energy from $128.00 to $123.00 and set an "outperform" rating on the stock in a research report on Thursday, April 10th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $126.94.

Duke Energy Stock Performance

NYSE:DUK traded up $0.68 during midday trading on Friday, reaching $116.93. The stock had a trading volume of 3,567,516 shares, compared to its average volume of 3,472,530. The firm has a fifty day simple moving average of $117.52 and a two-hundred day simple moving average of $115.08. Duke Energy Corporation has a 12-month low of $99.21 and a 12-month high of $125.27. The company has a quick ratio of 0.50, a current ratio of 0.77 and a debt-to-equity ratio of 1.57. The stock has a market cap of $90.89 billion, a P/E ratio of 19.39, a P/E/G ratio of 2.92 and a beta of 0.37.

Duke Energy (NYSE:DUK - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share for the quarter, beating analysts' consensus estimates of $1.59 by $0.17. Duke Energy had a net margin of 15.40% and a return on equity of 9.88%. The firm had revenue of $8.25 billion for the quarter, compared to analyst estimates of $7.70 billion. During the same period last year, the firm posted $1.44 EPS. Duke Energy's quarterly revenue was up 7.5% on a year-over-year basis. On average, equities analysts expect that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 16th were given a dividend of $1.045 per share. The ex-dividend date was Friday, May 16th. This represents a $4.18 annualized dividend and a dividend yield of 3.57%. Duke Energy's payout ratio is currently 69.32%.

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.