Rodgers Brothers Inc. Reduces Stake in Duke Energy Co. (NYSE:DUK)

Rodgers Brothers Inc. lessened its position in shares of Duke Energy Co. (NYSE:DUK) by 5.2% in the fourth quarter, Holdings Channel reports. The fund owned 23,475 shares of the utilities provider’s stock after selling 1,300 shares during the quarter. Rodgers Brothers Inc.’s holdings in Duke Energy were worth $2,529,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Parkworth Wealth Management Inc. bought a new stake in Duke Energy during the fourth quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of Duke Energy in the 3rd quarter worth $29,000. WealthTrak Capital Management LLC bought a new position in Duke Energy in the 4th quarter worth $30,000. Sierra Ocean LLC purchased a new position in Duke Energy during the fourth quarter valued at $31,000. Finally, Rakuten Securities Inc. grew its holdings in Duke Energy by 1,500.0% during 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 during the period. Institutional investors own 65.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. BMO Capital Markets increased their target price 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. Scotiabank increased their price objective on shares of Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Morgan Stanley lifted their target price on shares of Duke Energy from $123.00 to $128.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. increased their price target on Duke Energy from $114.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 11th. Finally, Jefferies Financial Group boosted their price objective on Duke Energy from $129.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $123.87.

Duke Energy Price Performance

Shares of Duke Energy stock opened at $119.42 on Monday. The stock has a 50 day moving average price of $115.17 and a 200-day moving average price of $113.68. Duke Energy Co. has a one year low of $92.75 and a one year high of $121.47. The stock has a market cap of $92.79 billion, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 2.79 and a beta of 0.48. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.44 and a current ratio of 0.67.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.66 EPS for the quarter, beating 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%. Equities analysts expect that Duke Energy Co. will post 6.33 EPS for the current year.

Duke Energy Announces Dividend

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

Duke Energy 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.