Summit Global Investments Sells 1,965 Shares of Duke Energy Co. (NYSE:DUK)

Summit Global Investments trimmed its position in shares of Duke Energy Co. (NYSE:DUK) by 15.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,588 shares of the utilities provider’s stock after selling 1,965 shares during the period. Summit Global Investments’ holdings in Duke Energy were worth $1,027,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DUK. Wellington Management Group LLP grew its position in Duke Energy by 4.6% in the 3rd quarter. Wellington Management Group LLP now owns 23,010,030 shares of the utilities provider’s stock valued at $2,030,865,000 after acquiring an additional 1,002,157 shares during the last quarter. International Assets Investment Management LLC increased its position in Duke Energy by 9,164.0% during the 4th quarter. International Assets Investment Management LLC now owns 979,294 shares of the utilities provider’s stock valued at $95,031,000 after purchasing an additional 968,723 shares during the period. Nordea Investment Management AB raised its stake in Duke Energy by 242.3% in the fourth quarter. Nordea Investment Management AB now owns 1,044,174 shares of the utilities provider’s stock worth $101,348,000 after buying an additional 739,112 shares in the last quarter. FMR LLC lifted its stake in shares of Duke Energy by 11.0% during the 3rd quarter. FMR LLC now owns 7,205,441 shares of the utilities provider’s stock worth $635,952,000 after purchasing an additional 715,069 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its position in Duke Energy by 273.2% during the third quarter. Adage Capital Partners GP L.L.C. now owns 766,313 shares of the utilities provider’s stock valued at $67,635,000 after purchasing an additional 561,000 shares in the last quarter. Institutional investors own 65.31% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on DUK shares. Bank of America increased their price target on shares of Duke Energy from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Royal Bank of Canada upgraded shares of Duke Energy from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $101.00 to $113.00 in a research note on Wednesday, January 10th. Mizuho upped their price target on Duke Energy from $89.00 to $99.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Wells Fargo & Company lowered their price objective on Duke Energy from $103.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. Finally, Evercore ISI raised Duke Energy from an “in-line” rating to an “outperform” rating and upped their target price for the company from $90.00 to $108.00 in a research report on Tuesday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $100.62.

Duke Energy Stock Performance

DUK traded up $0.95 during midday trading on Friday, hitting $100.26. 4,338,461 shares of the company were exchanged, compared to its average volume of 2,636,808. The firm has a market capitalization of $77.35 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 2.64 and a beta of 0.45. The company’s 50 day simple moving average is $95.38 and its 200 day simple moving average is $94.02. The company has a current ratio of 0.74, a quick ratio of 0.49 and a debt-to-equity ratio of 1.50. Duke Energy Co. has a 1-year low of $83.06 and a 1-year high of $100.56.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.02). The company had revenue of $7.21 billion for the quarter, compared to analysts’ expectations of $7.24 billion. Duke Energy had a net margin of 9.78% and a return on equity of 8.93%. The firm’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.11 earnings per share. As a group, sell-side analysts predict that Duke Energy Co. will post 5.98 earnings per share for the current year.

Insider Buying and Selling at Duke Energy

In other news, EVP Louis E. Renjel sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $92.57, for a total transaction of $277,710.00. Following the sale, the executive vice president now directly owns 14,213 shares in the company, valued at approximately $1,315,697.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is owned by corporate insiders.

Duke Energy Company 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.