Novem Group Invests $300,000 in Duke Energy Co. (NYSE:DUK)

Novem Group purchased a new position in Duke Energy Co. (NYSE:DUK - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,784 shares of the utilities provider's stock, valued at approximately $300,000.

Several other hedge funds have also recently modified their holdings of the business. Parkworth Wealth Management Inc. purchased a new stake in Duke Energy during the fourth quarter valued at $28,000. WealthTrak Capital Management LLC purchased a new stake in Duke Energy during the fourth quarter valued at $30,000. Sierra Ocean LLC purchased a new stake in Duke Energy during the fourth quarter valued at $31,000. Rakuten Securities Inc. increased its position in Duke Energy by 1,500.0% during the fourth quarter. Rakuten Securities Inc. now owns 288 shares of the utilities provider's stock valued at $31,000 after acquiring 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 valued at $33,000 after acquiring an additional 242 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company's stock.

Duke Energy Stock Performance

NYSE DUK opened at $115.59 on Friday. The firm has a market cap of $89.84 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 2.79 and a beta of 0.39. The company has a quick ratio of 0.44, a current ratio of 0.67 and a debt-to-equity ratio of 1.52. The business has a 50-day moving average price of $119.09 and a 200-day moving average price of $114.62. Duke Energy Co. has a twelve month low of $99.21 and a twelve month high of $125.27.

Duke Energy (NYSE:DUK - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.59 by $0.17. The firm had revenue of $8.25 billion during the quarter, compared to analyst estimates of $7.70 billion. Duke Energy had a return on equity of 9.50% and a net margin of 14.90%. The business's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.44 earnings per share. As a group, equities research analysts predict that Duke Energy Co. will post 6.33 EPS for the current fiscal year.

Duke Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be paid a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Friday, May 16th. Duke Energy's dividend payout ratio (DPR) is 69.32%.

Analysts Set New Price Targets

DUK has been the subject of a number of research reports. Guggenheim upped their price objective on Duke Energy from $132.00 to $135.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. UBS Group upped their price objective on Duke Energy from $123.00 to $127.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Wells Fargo & Company upped their price objective on Duke Energy from $127.00 to $138.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. boosted their price target on Duke Energy from $114.00 to $121.00 and gave the company a "neutral" rating in a report on Tuesday, March 11th. Finally, Jefferies Financial Group boosted their price target on Duke Energy from $129.00 to $132.00 and gave the company a "buy" rating in a report on Friday, February 21st. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $125.81.

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.

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