Torch Wealth Management LLC increased its holdings in Duke Energy Corp (NYSE:DUK) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,498 shares of the utilities provider’s stock after acquiring an additional 653 shares during the quarter. Duke Energy makes up 1.3% of Torch Wealth Management LLC’s portfolio, making the stock its 28th biggest position. Torch Wealth Management LLC’s holdings in Duke Energy were worth $1,855,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Vigilant Capital Management LLC acquired a new stake in Duke Energy during the fourth quarter valued at approximately $43,000. Mackey Komara & Dankovich LLC acquired a new stake in Duke Energy during the fourth quarter valued at approximately $57,000. Massey Quick Simon & CO. LLC raised its stake in Duke Energy by 1,681.8% during the fourth quarter. Massey Quick Simon & CO. LLC now owns 784 shares of the utilities provider’s stock valued at $68,000 after buying an additional 740 shares in the last quarter. First Mercantile Trust Co. raised its stake in Duke Energy by 69.4% during the fourth quarter. First Mercantile Trust Co. now owns 1,050 shares of the utilities provider’s stock valued at $91,000 after buying an additional 430 shares in the last quarter. Finally, Mondrian Investment Partners LTD raised its stake in Duke Energy by 90.4% during the fourth quarter. Mondrian Investment Partners LTD now owns 1,091 shares of the utilities provider’s stock valued at $94,000 after buying an additional 518 shares in the last quarter. Institutional investors and hedge funds own 60.33% of the company’s stock.
DUK has been the topic of several research reports. Zacks Investment Research upgraded Duke Energy from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a research note on Wednesday, December 12th. ValuEngine upgraded Duke Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. Barclays upped their price objective on Duke Energy from $86.00 to $88.00 and gave the company a “hold” rating in a research note on Monday, November 19th. Wells Fargo & Co cut their price objective on Duke Energy from $89.00 to $88.00 and set a “market perform” rating on the stock in a research note on Monday, November 5th. Finally, Bank of America cut Duke Energy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $88.00 to $87.00 in a research note on Wednesday, January 9th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $85.00.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 18th. Stockholders of record on Friday, February 15th will be issued a dividend of $0.9275 per share. This represents a $3.71 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Thursday, February 14th. Duke Energy’s dividend payout ratio (DPR) is presently 81.18%.
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Duke Energy Company Profile
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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