M&T Bank Corp reduced its position in Duke Energy Corp (NYSE:DUK) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 310,650 shares of the utilities provider’s stock after selling 7,436 shares during the quarter. M&T Bank Corp’s holdings in Duke Energy were worth $26,810,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Vigilant Capital Management LLC bought a new stake in Duke Energy during the fourth quarter valued at approximately $43,000. Mackey Komara & Dankovich LLC bought a new stake in Duke Energy during the fourth quarter valued at approximately $57,000. Massey Quick Simon & CO. LLC lifted its position in Duke Energy by 1,681.8% during the fourth quarter. Massey Quick Simon & CO. LLC now owns 784 shares of the utilities provider’s stock valued at $68,000 after purchasing an additional 740 shares during the last quarter. First Mercantile Trust Co. lifted its position in Duke Energy by 69.4% during the fourth quarter. First Mercantile Trust Co. now owns 1,050 shares of the utilities provider’s stock valued at $91,000 after purchasing an additional 430 shares during the last quarter. Finally, Mondrian Investment Partners LTD lifted its position in Duke Energy by 90.4% during the fourth quarter. Mondrian Investment Partners LTD now owns 1,091 shares of the utilities provider’s stock valued at $94,000 after purchasing an additional 518 shares during the last quarter. Institutional investors own 60.33% of the company’s stock.
Several brokerages have issued reports on DUK. ValuEngine upgraded shares of Duke Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, November 21st. Barclays lifted their target price on shares of Duke Energy from $86.00 to $88.00 and gave the company a “hold” rating in a research report on Monday, November 19th. Wells Fargo & Co lowered their price objective on shares of Duke Energy from $89.00 to $88.00 and set a “market perform” rating for the company in a report on Monday, November 5th. Bank of America lowered shares of Duke Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $88.00 to $87.00 in a report on Wednesday, January 9th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Duke Energy from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $85.00.
Shares of DUK opened at $90.17 on Tuesday. The company has a market capitalization 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 debt-to-equity ratio of 1.17, a current ratio of 0.68 and a quick ratio of 0.46. Duke Energy Corp has a fifty-two week low of $71.96 and a fifty-two week high of $91.35.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 18th. Stockholders of record on Friday, February 15th will be issued a $0.9275 dividend. The ex-dividend date is Thursday, February 14th. This represents a $3.71 dividend on an annualized basis and a dividend yield of 4.11%. Duke Energy’s payout ratio is 81.18%.
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Duke Energy Profile
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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