State of Michigan Retirement System Sells 600 Shares of Duke Energy Co. (NYSE:DUK)

State of Michigan Retirement System decreased its holdings in shares of Duke Energy Co. (NYSE:DUK) by 0.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 209,636 shares of the utilities provider’s stock after selling 600 shares during the quarter. State of Michigan Retirement System’s holdings in Duke Energy were worth $22,586,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in Duke Energy in the third quarter valued at about $29,000. Sierra Ocean LLC acquired a new position in shares of Duke Energy during the 4th quarter worth about $31,000. CGC Financial Services LLC increased its stake in shares of Duke Energy by 366.7% in the 4th quarter. CGC Financial Services LLC now owns 308 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 242 shares during the last quarter. Winch Advisory Services LLC raised its position in shares of Duke Energy by 332.9% in the 4th quarter. Winch Advisory Services LLC now owns 316 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 243 shares during the period. Finally, Centricity Wealth Management LLC acquired a new position in Duke Energy during the fourth quarter valued at approximately $36,000. 65.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DUK. Jefferies Financial Group increased their target price on shares of Duke Energy from $129.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Scotiabank raised their price objective on Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. BMO Capital Markets boosted their target price on Duke Energy from $119.00 to $124.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley dropped their price target on Duke Energy from $122.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.62.

Duke Energy Stock Down 1.9 %

Shares of Duke Energy stock opened at $116.46 on Wednesday. The firm has a market cap of $89.96 billion, a PE ratio of 20.40, a P/E/G ratio of 2.79 and a beta of 0.50. The business’s 50 day simple moving average is $111.38 and its 200 day simple moving average is $113.19. 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 Co. has a 52-week low of $92.33 and a 52-week high of $121.25.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.05. Duke Energy had a net margin of 14.90% and a return on equity of 9.50%. On average, 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 will be paid on Monday, March 17th. Stockholders of record on Friday, February 14th will be issued a $1.045 dividend. This represents a $4.18 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Friday, February 14th. Duke Energy’s payout ratio is 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.