McLean Asset Management Corp Cuts Position in Duke Energy Co. (NYSE:DUK)

McLean Asset Management Corp lessened its position in shares of Duke Energy Co. (NYSE:DUK) by 7.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,395 shares of the utilities provider’s stock after selling 186 shares during the quarter. McLean Asset Management Corp’s holdings in Duke Energy were worth $278,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DUK. Vermillion Wealth Management Inc. purchased a new position in shares of Duke Energy in the 4th quarter worth approximately $27,000. Parkworth Wealth Management Inc. purchased a new position in shares of Duke Energy in the 4th quarter worth approximately $28,000. Mattson Financial Services LLC purchased a new position in shares of Duke Energy in the 4th quarter worth approximately $28,000. WealthTrak Capital Management LLC purchased a new position in shares of Duke Energy in the 4th quarter worth approximately $30,000. Finally, Sierra Ocean LLC purchased a new position in shares of Duke Energy in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DUK. 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. Morgan Stanley dropped their target price on Duke Energy from $126.00 to $125.00 and set an “equal weight” rating for the company in a report on Thursday, May 22nd. JPMorgan Chase & Co. boosted their price objective on Duke Energy from $114.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, March 11th. UBS Group boosted their price objective on Duke Energy from $126.00 to $127.00 and gave the company a “neutral” rating in a report on Monday. Finally, Barclays boosted their price objective on Duke Energy from $111.00 to $123.00 and gave the company an “overweight” rating in a report on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $125.81.

Duke Energy Trading Down 0.4%

Shares of NYSE DUK opened at $117.20 on Tuesday. 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 business has a fifty day simple moving average of $118.76 and a two-hundred day simple moving average of $114.85. The firm has a market cap of $91.09 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 2.79 and a beta of 0.39. Duke Energy Co. has a twelve month low of $99.21 and a twelve month high of $125.27.

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

Duke Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be given a $1.045 dividend. This represents a $4.18 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Friday, May 16th. Duke Energy’s payout ratio is 69.32%.

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.