Investment Management Corp of Ontario Raises Position in Duke Energy Co. (NYSE:DUK)

Investment Management Corp of Ontario boosted its stake in Duke Energy Co. (NYSE:DUK - Free Report) by 212.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 79,989 shares of the utilities provider's stock after acquiring an additional 54,413 shares during the period. Investment Management Corp of Ontario's holdings in Duke Energy were worth $8,618,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parkworth Wealth Management Inc. bought a new stake in shares of Duke Energy in the fourth quarter valued at $28,000. WealthTrak Capital Management LLC purchased a new stake in Duke Energy in the 4th quarter worth about $30,000. Sierra Ocean LLC bought a new stake in Duke Energy in the 4th quarter valued at about $31,000. Rakuten Securities Inc. boosted 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 worth $31,000 after purchasing an additional 270 shares during the period. Finally, CGC Financial Services LLC increased its stake in shares of 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 purchasing an additional 242 shares in the last quarter. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. 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. UBS Group boosted their price objective on Duke Energy from $123.00 to $127.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. BMO Capital Markets cut their target price 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. JPMorgan Chase & Co. upped their price target on Duke Energy from $114.00 to $121.00 and gave the company a "neutral" rating in a research report on Tuesday, March 11th. Finally, Barclays increased their price target on shares of Duke Energy from $111.00 to $123.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $126.00.

Duke Energy Price Performance

Shares of NYSE:DUK traded up $0.33 during trading on Friday, reaching $116.27. The company had a trading volume of 2,966,400 shares, compared to its average volume of 3,422,806. The company has a fifty day moving average of $119.32 and a two-hundred day moving average of $114.53. The company has a current ratio of 0.67, a quick ratio of 0.44 and a debt-to-equity ratio of 1.52. The stock has a market capitalization of $90.37 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 2.79 and a beta of 0.39. Duke Energy Co. has a 12 month low of $99.21 and a 12 month high of $125.27.

Duke Energy (NYSE:DUK - Get Free Report) last released its earnings results on Tuesday, May 6th. The utilities provider reported $1.76 EPS for the quarter, beating analysts' consensus estimates of $1.59 by $0.17. Duke Energy had a return on equity of 9.50% and a net margin of 14.90%. The business had revenue of $8.25 billion for the quarter, compared to analysts' expectations of $7.70 billion. During the same quarter in the prior year, the firm earned $1.44 earnings per share. The firm's revenue was up 7.5% on a year-over-year basis. Equities research analysts forecast that Duke Energy Co. will post 6.33 earnings per share for the current year.

Duke Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 16th will be paid a $1.045 dividend. This represents a $4.18 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Friday, May 16th. Duke Energy's dividend 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.