Franklin Resources Inc. Sells 148,102 Shares of Duke Energy Co. (NYSE:DUK)

Franklin Resources Inc. lowered its position in shares of Duke Energy Co. (NYSE:DUK) by 1.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,989,545 shares of the utilities provider’s stock after selling 148,102 shares during the quarter. Franklin Resources Inc. owned about 1.03% of Duke Energy worth $860,794,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Parkworth Wealth Management Inc. acquired a new position in shares of Duke Energy during the 4th quarter worth approximately $28,000. Legacy Investment Solutions LLC acquired a new position in Duke Energy in the 3rd quarter valued at $29,000. WealthTrak Capital Management LLC acquired a new stake in shares of Duke Energy during the 4th quarter worth $30,000. Sierra Ocean LLC bought a new position in shares of Duke Energy in the fourth quarter worth $31,000. Finally, Rakuten Securities Inc. raised its stake in Duke Energy by 1,500.0% in the fourth quarter. Rakuten Securities Inc. now owns 288 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 270 shares in the last quarter. Institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Up 1.5 %

DUK stock opened at $119.42 on Monday. The stock’s 50 day moving average is $115.17 and its 200-day moving average is $113.68. Duke Energy Co. has a twelve month low of $92.75 and a twelve month high of $121.47. The firm has a market capitalization of $92.79 billion, a PE ratio of 20.91, a P/E/G ratio of 2.79 and a beta of 0.48. 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 (NYSE:DUK) last posted its earnings results on Thursday, February 13th. The utilities provider reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.05. Duke Energy had a net margin of 14.90% and a return on equity of 9.50%. Sell-side analysts expect that Duke Energy Co. will post 6.33 EPS for the current fiscal year.

Duke Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 14th were paid a $1.045 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $4.18 dividend on an annualized basis and a yield of 3.50%. Duke Energy’s dividend payout ratio (DPR) is presently 73.20%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DUK shares. Jefferies Financial Group raised their target price on shares of Duke Energy from $129.00 to $132.00 and gave the company a “buy” rating in a report on Friday, February 21st. Scotiabank lifted their price objective on shares of Duke Energy from $113.00 to $120.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Guggenheim upped their target price on Duke Energy from $132.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Morgan Stanley boosted their price target on Duke Energy from $123.00 to $128.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Finally, BMO Capital Markets boosted their target price on Duke Energy from $123.00 to $128.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Duke Energy has a consensus rating of “Moderate Buy” and an average price target of $123.87.

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.