Twinbeech Capital LP Purchases 354,422 Shares of Duke Energy Co. (NYSE:DUK)

Twinbeech Capital LP lifted its stake in Duke Energy Co. (NYSE:DUK - Free Report) by 1,109.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 386,363 shares of the utilities provider's stock after purchasing an additional 354,422 shares during the quarter. Twinbeech Capital LP owned 0.05% of Duke Energy worth $41,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in DUK. Parkworth Wealth Management Inc. acquired a new position in Duke Energy in the fourth quarter worth approximately $28,000. WealthTrak Capital Management LLC acquired a new position in Duke Energy in the fourth quarter worth approximately $30,000. Rakuten Securities Inc. increased its holdings in Duke Energy by 1,500.0% in the fourth quarter. Rakuten Securities Inc. now owns 288 shares of the utilities provider's stock worth $31,000 after buying an additional 270 shares during the last quarter. Sierra Ocean LLC acquired a new position in Duke Energy in the fourth quarter worth approximately $31,000. Finally, CGC Financial Services LLC increased its holdings in Duke Energy by 366.7% in 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 during the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on DUK shares. Barclays increased their price objective on Duke Energy from $111.00 to $123.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. Guggenheim increased their price target on Duke Energy from $132.00 to $135.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Morgan Stanley increased their price target on Duke Energy from $123.00 to $128.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. JPMorgan Chase & Co. increased 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, BMO Capital Markets lowered their price target on Duke Energy from $128.00 to $123.00 and set an "outperform" rating on the stock in a report on Thursday, April 10th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Duke Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.00.

Duke Energy Stock Performance

Shares of Duke Energy stock traded down $0.84 during midday trading on Wednesday, hitting $116.47. The company had a trading volume of 2,769,887 shares, compared to its average volume of 3,425,787. The business's 50 day simple moving average is $119.20 and its two-hundred day simple moving average is $114.60. The stock has a market cap of $90.53 billion, a PE ratio of 20.40, a P/E/G ratio of 2.79 and a beta of 0.39. 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 Co. has a 1-year low of $99.21 and a 1-year high of $125.27.

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

Duke Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 16th will be given a $1.045 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $4.18 annualized dividend and a yield of 3.59%. Duke Energy's dividend payout ratio (DPR) 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.