Cannell & Spears LLC Invests $385,000 in Duke Energy Co. (NYSE:DUK)

Cannell & Spears LLC acquired a new stake in Duke Energy Co. (NYSE:DUK) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,574 shares of the utilities provider’s stock, valued at approximately $385,000.

A number of other institutional investors have also bought and sold shares of DUK. Parkworth Wealth Management Inc. purchased a new position in shares of Duke Energy during the 4th quarter worth $28,000. Legacy Investment Solutions LLC purchased a new position in Duke Energy during the third quarter worth about $29,000. WealthTrak Capital Management LLC acquired a new position in Duke Energy in the 4th quarter valued at about $30,000. Sierra Ocean LLC purchased a new stake in shares of Duke Energy in the 4th quarter valued at approximately $31,000. Finally, Rakuten Securities Inc. raised its position in shares of 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 period. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Trading Down 0.7 %

Shares of NYSE:DUK opened at $121.08 on Wednesday. Duke Energy Co. has a 52 week low of $92.75 and a 52 week high of $122.50. The company’s 50 day moving average is $115.63 and its two-hundred day moving average is $113.75. The company has a market cap of $94.08 billion, a PE ratio of 21.20, a P/E/G ratio of 2.79 and a beta of 0.48. The company has a current ratio of 0.67, a quick ratio of 0.44 and a debt-to-equity ratio of 1.52.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.05. Duke Energy had a return on equity of 9.50% and a net margin of 14.90%. Equities analysts predict that Duke Energy Co. will post 6.33 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 14th were given a dividend of $1.045 per share. The ex-dividend date was Friday, February 14th. This represents a $4.18 annualized dividend and a dividend yield of 3.45%. Duke Energy’s dividend payout ratio is presently 73.20%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Morgan Stanley lifted their target price on Duke Energy from $123.00 to $128.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. lifted their price target on shares of Duke Energy from $114.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, March 11th. BMO Capital Markets upped their price objective on shares of Duke Energy from $123.00 to $128.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. UBS Group boosted their target price on Duke Energy from $123.00 to $127.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Finally, Scotiabank raised their price target on Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.