Pinnacle West Asset Management Inc. Purchases 100 Shares of Duke Energy Co. (NYSE:DUK)

Pinnacle West Asset Management Inc. boosted its position in shares of Duke Energy Co. (NYSE:DUK) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,640 shares of the utilities provider’s stock after buying an additional 100 shares during the period. Pinnacle West Asset Management Inc.’s holdings in Duke Energy were worth $500,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DUK. Legacy Investment Solutions LLC purchased a new stake in Duke Energy during the third quarter valued at approximately $29,000. Sierra Ocean LLC purchased a new stake in Duke Energy during the fourth quarter valued at approximately $31,000. CGC Financial Services LLC raised its position in Duke Energy by 366.7% during the fourth quarter. CGC Financial Services LLC now owns 308 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 242 shares during the period. Winch Advisory Services LLC raised its position in Duke Energy by 332.9% during the fourth quarter. Winch Advisory Services LLC now owns 316 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 243 shares during the period. Finally, Centricity Wealth Management LLC purchased a new stake in Duke Energy during the fourth quarter valued at approximately $36,000. 65.31% of the stock is owned by institutional investors.

Duke Energy Trading Up 1.2 %

DUK opened at $117.29 on Wednesday. The stock’s fifty day moving average is $110.46 and its two-hundred day moving average is $113.06. The company has a market capitalization of $90.61 billion, a P/E ratio of 20.54, a PEG ratio of 2.79 and a beta of 0.50. Duke Energy Co. has a 52 week low of $90.09 and a 52 week high of $121.25. The company has a quick ratio of 0.44, a current ratio of 0.67 and a debt-to-equity ratio of 1.52.

Duke Energy (NYSE:DUK) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.66 EPS for the quarter, topping the consensus estimate of $1.61 by $0.05. Duke Energy had a return on equity of 9.50% and a net margin of 14.90%. Analysts forecast that Duke Energy Co. will post 6.33 earnings per share for the current year.

Duke Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 14th will be given a dividend of $1.045 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $4.18 annualized dividend and a yield of 3.56%. Duke Energy’s dividend payout ratio (DPR) is presently 73.20%.

Wall Street Analyst Weigh In

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

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.