SouthState Corp Has $5.03 Million Position in Duke Energy Co. (NYSE:DUK)

SouthState Corp lowered its holdings in shares of Duke Energy Co. (NYSE:DUK) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,648 shares of the utilities provider’s stock after selling 829 shares during the quarter. SouthState Corp’s holdings in Duke Energy were worth $5,026,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bailard Inc. raised its position in Duke Energy by 10.9% in the 4th quarter. Bailard Inc. now owns 31,921 shares of the utilities provider’s stock valued at $3,439,000 after buying an additional 3,139 shares during the last quarter. KMG Fiduciary Partners LLC raised its position in Duke Energy by 5.5% in the 4th quarter. KMG Fiduciary Partners LLC now owns 52,097 shares of the utilities provider’s stock valued at $5,613,000 after buying an additional 2,705 shares during the last quarter. First Business Financial Services Inc. acquired a new stake in Duke Energy in the 4th quarter valued at approximately $384,000. Sequoia Financial Advisors LLC raised its position in Duke Energy by 25.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 35,755 shares of the utilities provider’s stock valued at $3,852,000 after buying an additional 7,319 shares during the last quarter. Finally, Pines Wealth Management LLC acquired a new stake in Duke Energy in the 4th quarter valued at approximately $1,032,000. Institutional investors and hedge funds own 65.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DUK. Guggenheim lifted their target price on Duke Energy from $132.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. raised their price target on Duke Energy from $114.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, March 11th. Scotiabank raised their price target on Duke Energy from $113.00 to $120.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Morgan Stanley decreased their price target on Duke Energy from $122.00 to $118.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Finally, Jefferies Financial Group raised their price target on Duke Energy from $129.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Duke Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.93.

Duke Energy Stock Performance

DUK opened at $120.29 on Monday. The business has a fifty day simple moving average of $112.86 and a 200 day simple moving average of $113.46. The company has a market capitalization of $93.40 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 2.79 and a beta of 0.48. Duke Energy Co. has a 1 year low of $92.75 and a 1 year high of $121.25. 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 (NYSE:DUK) last released its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.05. Duke Energy had a return on equity of 9.50% and a net margin of 14.90%. Research analysts expect that Duke Energy Co. will post 6.33 EPS for the current year.

Duke Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 14th will be paid a $1.045 dividend. The ex-dividend date is Friday, February 14th. This represents a $4.18 annualized dividend and a yield of 3.48%. Duke Energy’s dividend payout ratio (DPR) is presently 73.20%.

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.