Spinnaker Investment Group LLC Sells 232 Shares of Duke Energy Co. (NYSE:DUK)

Spinnaker Investment Group LLC lowered its holdings in shares of Duke Energy Co. (NYSE:DUK) by 8.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,637 shares of the utilities provider’s stock after selling 232 shares during the period. Spinnaker Investment Group LLC’s holdings in Duke Energy were worth $284,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in Duke Energy during the 3rd quarter valued at approximately $29,000. Northwest Investment Counselors LLC bought a new position in shares of Duke Energy during the third quarter valued at $30,000. Winch Advisory Services LLC raised its position in shares of Duke Energy by 332.9% in 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 last quarter. Reston Wealth Management LLC purchased a new stake in Duke Energy during the 3rd quarter valued at about $38,000. Finally, Catalyst Capital Advisors LLC increased its stake in Duke Energy by 100.0% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 334 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 167 shares in the last quarter. Institutional investors own 65.31% of the company’s stock.

Duke Energy Price Performance

Shares of NYSE:DUK opened at $109.37 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.45 and a current ratio of 0.70. The firm has a market cap of $84.48 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 2.76 and a beta of 0.49. The firm has a fifty day moving average price of $110.33 and a 200 day moving average price of $112.17. Duke Energy Co. has a fifty-two week low of $90.09 and a fifty-two week high of $121.25.

Duke Energy (NYSE:DUK) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11). The firm had revenue of $8.16 billion for the quarter, compared to analysts’ expectations of $8.06 billion. Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.94 EPS. As a group, sell-side analysts expect that Duke Energy Co. will post 5.92 earnings per share 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 issued a dividend of $1.045 per share. The ex-dividend date is Friday, February 14th. This represents a $4.18 annualized dividend and a dividend yield of 3.82%. Duke Energy’s dividend payout ratio (DPR) is 76.84%.

Analyst Upgrades and Downgrades

DUK has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Duke Energy from $102.00 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Mizuho upgraded Duke Energy from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $116.00 to $121.00 in a research note on Tuesday, October 15th. KeyCorp cut Duke Energy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 22nd. Scotiabank boosted their target price on shares of Duke Energy from $113.00 to $120.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Finally, Morgan Stanley cut their price objective on Duke Energy from $122.00 to $118.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average 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.