Jarislowsky Fraser Ltd lessened its holdings in Duke Energy Corp (NYSE:DUK) by 1.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 159,584 shares of the utilities provider’s stock after selling 2,755 shares during the period. Jarislowsky Fraser Ltd’s holdings in Duke Energy were worth $13,772,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc raised its position in Duke Energy by 2.9% during the third quarter. Vanguard Group Inc now owns 54,434,882 shares of the utilities provider’s stock valued at $4,355,880,000 after purchasing an additional 1,539,841 shares in the last quarter. BlackRock Inc. raised its position in Duke Energy by 2.3% during the third quarter. BlackRock Inc. now owns 47,043,416 shares of the utilities provider’s stock valued at $3,764,415,000 after purchasing an additional 1,065,607 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Duke Energy by 0.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 19,862,028 shares of the utilities provider’s stock valued at $1,589,358,000 after purchasing an additional 121,046 shares in the last quarter. Franklin Resources Inc. raised its position in Duke Energy by 2.3% during the third quarter. Franklin Resources Inc. now owns 14,274,081 shares of the utilities provider’s stock valued at $1,142,212,000 after purchasing an additional 314,933 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Duke Energy by 12.3% during the third quarter. Bank of New York Mellon Corp now owns 6,465,312 shares of the utilities provider’s stock valued at $517,355,000 after purchasing an additional 706,008 shares in the last quarter. Institutional investors own 60.33% of the company’s stock.
DUK has been the topic of several analyst reports. Zacks Investment Research downgraded Duke Energy from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. Wells Fargo & Co cut their target price on Duke Energy from $89.00 to $88.00 and set a “market perform” rating on the stock in a research note on Monday, November 5th. ValuEngine raised Duke Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, November 21st. Barclays lifted their price objective on Duke Energy from $86.00 to $88.00 and gave the company a “hold” rating in a research report on Monday, November 19th. Finally, Bank of America cut Duke Energy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $88.00 to $87.00 in a research report on Wednesday, January 9th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $85.00.
DUK stock opened at $90.17 on Tuesday. Duke Energy Corp has a 52-week low of $71.96 and a 52-week high of $91.35. The company has a market cap of $64.28 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 3.65 and a beta of 0.06. The company has a quick ratio of 0.46, a current ratio of 0.68 and a debt-to-equity ratio of 1.17.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 18th. Stockholders of record on Friday, February 15th will be issued a dividend of $0.9275 per share. The ex-dividend date is Thursday, February 14th. This represents a $3.71 annualized dividend and a dividend yield of 4.11%. Duke Energy’s payout ratio is 81.18%.
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About Duke Energy
Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; uses coal, hydroelectric, natural gas, oil, renewable sources, and nuclear fuel to generate electricity; and engages in the wholesale of electricity to municipalities, electric cooperative utilities, and other load-serving entities.
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