Summit Global Investments Lowers Holdings in Duke Energy Co. (NYSE:DUK)

Summit Global Investments decreased its position in Duke Energy Co. (NYSE:DUK - Free Report) by 33.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,126 shares of the utilities provider's stock after selling 3,613 shares during the quarter. Summit Global Investments' holdings in Duke Energy were worth $869,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Vermillion Wealth Management Inc. bought a new position in shares of Duke Energy in the fourth quarter worth $27,000. Parkworth Wealth Management Inc. bought a new position in shares of Duke Energy during the fourth quarter valued at about $28,000. Mattson Financial Services LLC bought a new position in Duke Energy in the fourth quarter worth about $28,000. WealthTrak Capital Management LLC bought a new position in Duke Energy in the fourth quarter worth about $30,000. Finally, Sierra Ocean LLC bought a new position in Duke Energy in the fourth quarter worth about $31,000. 65.31% of the stock is owned by institutional investors.

Duke Energy Stock Down 0.4%

Shares of NYSE DUK traded down $0.53 during trading hours on Monday, hitting $117.20. 2,752,879 shares of the stock were exchanged, compared to its average volume of 3,458,473. The company has a quick ratio of 0.44, a current ratio of 0.67 and a debt-to-equity ratio of 1.52. Duke Energy Co. has a 12 month low of $99.21 and a 12 month high of $125.27. The company has a market cap of $91.09 billion, a PE ratio of 20.52, a PEG ratio of 2.79 and a beta of 0.39. The firm has a fifty day moving average price of $118.76 and a 200-day moving average price of $114.82.

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. Duke Energy had a net margin of 14.90% and a return on equity of 9.50%. The firm had revenue of $8.25 billion for the quarter, compared to analyst estimates of $7.70 billion. During the same quarter in the prior year, the business earned $1.44 earnings per share. The business's quarterly revenue was up 7.5% compared to the same quarter last year. On average, sell-side analysts expect that Duke Energy Co. will post 6.33 EPS for the current year.

Duke Energy Dividend Announcement

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

Wall Street Analyst Weigh In

DUK has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on shares of Duke Energy from $114.00 to $121.00 and gave the stock a "neutral" rating in a report on Tuesday, March 11th. UBS Group boosted their price objective on Duke Energy from $126.00 to $127.00 and gave the company a "neutral" rating in a research report on Monday. BMO Capital Markets dropped their price target on Duke Energy from $128.00 to $123.00 and set an "outperform" rating for the company in a research note on Thursday, April 10th. Jefferies Financial Group lifted their price objective 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. Finally, Citigroup lifted their price target on shares of Duke Energy from $130.00 to $142.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $125.81.

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.