People s United Financial Inc. raised its stake in shares of Duke Energy Corp (NYSE:DUK) by 5.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 15,425 shares of the utilities provider’s stock after acquiring an additional 770 shares during the period. People s United Financial Inc.’s holdings in Duke Energy were worth $1,234,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Duke Energy during the 2nd quarter valued at about $5,688,000. Jennison Associates LLC increased its position in shares of Duke Energy by 53.0% during the 2nd quarter. Jennison Associates LLC now owns 599,030 shares of the utilities provider’s stock valued at $47,371,000 after purchasing an additional 207,506 shares during the last quarter. Alps Advisors Inc. increased its position in shares of Duke Energy by 12.6% during the 2nd quarter. Alps Advisors Inc. now owns 11,563 shares of the utilities provider’s stock valued at $914,000 after purchasing an additional 1,292 shares during the last quarter. Pitcairn Co. purchased a new stake in shares of Duke Energy during the 2nd quarter valued at about $211,000. Finally, Sei Investments Co. increased its position in shares of Duke Energy by 10.3% during the 2nd quarter. Sei Investments Co. now owns 200,204 shares of the utilities provider’s stock valued at $15,832,000 after purchasing an additional 18,696 shares during the last quarter. 59.65% of the stock is owned by hedge funds and other institutional investors.
Duke Energy stock opened at $89.99 on Friday. The company has a market capitalization of $64.04 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 3.77 and a beta of -0.03. Duke Energy Corp has a 12 month low of $71.96 and a 12 month high of $90.70. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.68 and a quick ratio of 0.46.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 16th will be paid a $0.9275 dividend. This represents a $3.71 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Thursday, November 15th. Duke Energy’s dividend payout ratio (DPR) is presently 81.18%.
Several equities research analysts have recently commented on the stock. ValuEngine raised shares of Duke Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, November 21st. Barclays increased their price objective on shares of Duke Energy from $86.00 to $88.00 and gave the company a “hold” rating in a report on Monday, November 19th. Wells Fargo & Co cut their price objective on shares of Duke Energy from $89.00 to $88.00 and set a “market perform” rating for the company in a report on Monday, November 5th. Zacks Investment Research downgraded Duke Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. Finally, Morgan Stanley lowered their target price on Duke Energy from $91.00 to $85.00 and set a “hold” rating for the company in a research report on Friday, September 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. Duke Energy presently has a consensus rating of “Hold” and a consensus target price of $84.13.
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About Duke Energy
Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; uses coal, hydroelectric, natural gas, oil, renewable sources, and nuclear fuel to generate electricity; and engages in the wholesale of electricity to municipalities, electric cooperative utilities, and other load-serving entities.
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