Rafferty Asset Management LLC Reduces Position in Duke Energy Co. (NYSE:DUK)

Rafferty Asset Management LLC lowered its position in Duke Energy Co. (NYSE:DUK - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,729 shares of the utilities provider's stock after selling 2,226 shares during the period. Rafferty Asset Management LLC's holdings in Duke Energy were worth $9,344,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of DUK. Parkworth Wealth Management Inc. acquired a new stake in shares of Duke Energy in the 4th quarter worth approximately $28,000. WealthTrak Capital Management LLC acquired a new stake in Duke Energy during the 4th quarter valued at $30,000. Sierra Ocean LLC acquired a new stake in Duke Energy during the 4th quarter valued at $31,000. Rakuten Securities Inc. grew its holdings in Duke Energy by 1,500.0% during the 4th quarter. Rakuten Securities Inc. now owns 288 shares of the utilities provider's stock valued at $31,000 after buying an additional 270 shares during the last quarter. Finally, CGC Financial Services LLC grew its holdings in Duke Energy by 366.7% during the 4th quarter. CGC Financial Services LLC now owns 308 shares of the utilities provider's stock valued at $33,000 after buying an additional 242 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company's stock.

Duke Energy Trading Up 0.2%

Duke Energy stock traded up $0.28 during midday trading on Tuesday, reaching $117.27. The stock had a trading volume of 4,459,281 shares, compared to its average volume of 3,425,722. Duke Energy Co. has a twelve month low of $99.21 and a twelve month high of $125.27. The stock has a market capitalization of $91.15 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 2.79 and a beta of 0.39. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.44 and a current ratio of 0.67. The stock's 50-day simple moving average is $119.29 and its 200 day simple moving average is $114.57.

Duke Energy (NYSE:DUK - Get Free Report) last issued its earnings results 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 return on equity of 9.50% and a net margin of 14.90%. The firm had revenue of $8.25 billion for the quarter, compared to analysts' expectations of $7.70 billion. During the same quarter last year, the firm earned $1.44 earnings per share. The firm's revenue for the quarter was up 7.5% compared to the same quarter last year. Analysts expect that Duke Energy Co. will post 6.33 EPS for the current year.

Duke Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 16th will be given a $1.045 dividend. This represents a $4.18 annualized dividend and a yield of 3.56%. The ex-dividend date is Friday, May 16th. Duke Energy's dividend payout ratio (DPR) is presently 69.32%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DUK shares. Guggenheim increased their target price on Duke Energy from $132.00 to $135.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. increased their target price on Duke Energy from $114.00 to $121.00 and gave the company a "neutral" rating in a report on Tuesday, March 11th. Jefferies Financial Group raised their price objective on Duke Energy from $129.00 to $132.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Wells Fargo & Company raised their price objective on Duke Energy from $127.00 to $138.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, UBS Group raised their price objective on Duke Energy from $123.00 to $127.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Duke Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.00.

About Duke Energy

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.