West Chester Capital Advisors Inc. Buys Shares of 4,737 Duke Energy Corp (NYSE:DUK)
West Chester Capital Advisors Inc. purchased a new position in shares of Duke Energy Corp (NYSE:DUK) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,737 shares of the utilities provider’s stock, valued at approximately $422,000.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in Duke Energy by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 50,043,241 shares of the utilities provider’s stock valued at $4,183,115,000 after purchasing an additional 1,572,216 shares in the last quarter. BlackRock Inc. raised its position in Duke Energy by 0.9% during the 4th quarter. BlackRock Inc. now owns 45,499,220 shares of the utilities provider’s stock valued at $3,826,940,000 after purchasing an additional 424,604 shares in the last quarter. Northern Trust Corp raised its position in Duke Energy by 0.9% during the 2nd quarter. Northern Trust Corp now owns 9,063,623 shares of the utilities provider’s stock valued at $757,629,000 after purchasing an additional 84,730 shares in the last quarter. Legal & General Group Plc raised its position in Duke Energy by 3.4% during the 3rd quarter. Legal & General Group Plc now owns 5,039,085 shares of the utilities provider’s stock valued at $422,872,000 after purchasing an additional 164,381 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Duke Energy by 3.8% during the 4th quarter. Wells Fargo & Company MN now owns 3,553,139 shares of the utilities provider’s stock valued at $298,855,000 after purchasing an additional 128,752 shares in the last quarter. 57.13% of the stock is owned by hedge funds and other institutional investors.
Duke Energy Corp (NYSE:DUK) opened at $76.74 on Friday. Duke Energy Corp has a one year low of $72.93 and a one year high of $91.80. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.42 and a current ratio of 0.68. The firm has a market capitalization of $53,760.00, a price-to-earnings ratio of 21.20, a P/E/G ratio of 4.40 and a beta of 0.15.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, February 16th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $3.56 annualized dividend and a yield of 4.64%. Duke Energy’s payout ratio is presently 98.34%.
A number of equities research analysts have weighed in on the company. SunTrust Banks set a $82.00 target price on Duke Energy and gave the company a “hold” rating in a research report on Wednesday, January 3rd. Morgan Stanley decreased their target price on Duke Energy from $90.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 13th. Guggenheim reaffirmed a “buy” rating and set a $82.00 target price on shares of Duke Energy in a research report on Friday, February 23rd. Zacks Investment Research raised Duke Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, February 13th. Finally, Credit Suisse Group raised Duke Energy from a “neutral” rating to an “outperform” rating and reduced their price target for the stock from $91.00 to $83.00 in a research report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $86.27.
In other Duke Energy news, COO Dhiaa M. Jamil sold 500 shares of the business’s stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $89.08, for a total transaction of $44,540.00. Following the sale, the chief operating officer now owns 34,115 shares in the company, valued at approximately $3,038,964.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.07% of the stock is currently owned by insiders.
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About Duke Energy
Duke Energy Corporation (Duke Energy) is an energy company. The Company operates through three segments: Electric Utilities and Infrastructure; Gas Utilities and Infrastructure, and Commercial Renewables. The Company operates in the United States through its direct and indirect subsidiaries. The Electric Utilities and Infrastructure segment provides retail electric service through the generation, transmission, distribution and sale of electricity to approximately 7.5 million customers within the Southeast and Midwest regions of the United States.
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