Birmingham Capital Management Co. Inc. AL Sells 833 Shares of Duke Energy Co. (NYSE:DUK)

Birmingham Capital Management Co. Inc. AL lessened its holdings in Duke Energy Co. (NYSE:DUK) by 2.7% during the 4th quarter, Holdings Channel reports. The firm owned 29,594 shares of the utilities provider’s stock after selling 833 shares during the period. Duke Energy makes up approximately 1.2% of Birmingham Capital Management Co. Inc. AL’s portfolio, making the stock its 29th biggest position. Birmingham Capital Management Co. Inc. AL’s holdings in Duke Energy were worth $3,188,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DUK. Vermillion Wealth Management Inc. bought a new position in shares of Duke Energy in the 4th quarter worth $27,000. Parkworth Wealth Management Inc. bought a new position in shares of Duke Energy in the 4th quarter worth $28,000. WealthTrak Capital Management LLC bought a new position in Duke Energy during the 4th quarter worth approximately $30,000. Sierra Ocean LLC bought a new position in Duke Energy during the 4th quarter worth approximately $31,000. Finally, Rakuten Securities Inc. boosted its stake in Duke Energy by 1,500.0% during the 4th quarter. Rakuten Securities Inc. now owns 288 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 270 shares during the last quarter. 65.31% of the stock is currently owned by institutional investors.

Duke Energy Stock Performance

Shares of DUK stock opened at $116.51 on Tuesday. The company’s fifty day simple moving average is $118.95 and its 200-day simple moving average is $114.70. The company has a quick ratio of 0.44, a current ratio of 0.67 and a debt-to-equity ratio of 1.52. The firm has a market cap of $90.55 billion, a PE ratio of 20.40, a P/E/G ratio of 2.79 and a beta of 0.39. Duke Energy Co. has a 12 month low of $99.21 and a 12 month high of $125.27.

Duke Energy (NYSE:DUK) last released its earnings results on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.17. Duke Energy had a return on equity of 9.50% and a net margin of 14.90%. The business had revenue of $8.25 billion for the quarter, compared to analyst estimates of $7.70 billion. During the same quarter in the prior year, the company posted $1.44 earnings per share. Duke Energy’s revenue was up 7.5% on a year-over-year basis. Equities research analysts expect that Duke Energy Co. will post 6.33 EPS for the current fiscal year.

Duke Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 16th will be issued a dividend of $1.045 per share. The ex-dividend date is Friday, May 16th. This represents a $4.18 annualized dividend and a yield of 3.59%. Duke Energy’s payout ratio is presently 69.32%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Duke Energy from $127.00 to $138.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Guggenheim lifted their target price on Duke Energy from $132.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Jefferies Financial Group lifted their target price on Duke Energy from $129.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Citigroup lifted their target price on Duke Energy from $130.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets reduced their target price on Duke Energy from $128.00 to $123.00 and set an “outperform” rating on the stock in a report on Thursday, April 10th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $125.81.

About Duke Energy

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.