Spinnaker Investment Group LLC Decreases Holdings in Duke Energy Co. (NYSE:DUK)

Spinnaker Investment Group LLC reduced its stake in shares of Duke Energy Co. (NYSE:DUK) by 8.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,637 shares of the utilities provider’s stock after selling 232 shares during the quarter. Spinnaker Investment Group LLC’s holdings in Duke Energy were worth $284,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of DUK. Legacy Investment Solutions LLC bought a new stake in Duke Energy in the third quarter worth $29,000. Northwest Investment Counselors LLC bought a new stake in shares of Duke Energy in the 3rd quarter worth about $30,000. Winch Advisory Services LLC boosted its stake in shares of Duke Energy by 332.9% during the 4th quarter. Winch Advisory Services LLC now owns 316 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 243 shares during the period. Reston Wealth Management LLC bought a new position in Duke Energy during the 3rd quarter valued at about $38,000. Finally, Catalyst Capital Advisors LLC raised its position in Duke Energy by 100.0% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 334 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 167 shares during the period. 65.31% of the stock is owned by institutional investors.

Duke Energy Stock Performance

Shares of DUK stock opened at $109.37 on Friday. The company’s 50 day moving average is $110.33 and its 200 day moving average is $112.17. The company has a quick ratio of 0.45, a current ratio of 0.70 and a debt-to-equity ratio of 1.55. The firm has a market cap of $84.48 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 2.76 and a beta of 0.49. Duke Energy Co. has a 52-week low of $90.09 and a 52-week high of $121.25.

Duke Energy (NYSE:DUK) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.62 EPS for the quarter, missing the consensus estimate of $1.73 by ($0.11). Duke Energy had a return on equity of 9.34% and a net margin of 14.31%. The company had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same period in the previous year, the firm posted $1.94 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts anticipate that Duke Energy Co. will post 5.92 EPS for the current fiscal year.

Duke Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 14th will be given a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Friday, February 14th. Duke Energy’s payout ratio is currently 76.84%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DUK shares. Scotiabank upped their target price on Duke Energy from $113.00 to $120.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Morgan Stanley cut their price objective on Duke Energy from $122.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Mizuho upgraded Duke Energy from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $116.00 to $121.00 in a research report on Tuesday, October 15th. Barclays upped their price target on shares of Duke Energy from $102.00 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Finally, KeyCorp downgraded shares of Duke Energy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.23.

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.