HB Wealth Management LLC Raises Stake in Duke Energy Co. (NYSE:DUK)

HB Wealth Management LLC boosted its position in Duke Energy Co. (NYSE:DUKGet Rating) by 11.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,501 shares of the utilities provider’s stock after buying an additional 4,944 shares during the quarter. HB Wealth Management LLC’s holdings in Duke Energy were worth $5,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Tiedemann Advisors LLC boosted its stake in Duke Energy by 3.7% in the first quarter. Tiedemann Advisors LLC now owns 2,581 shares of the utilities provider’s stock worth $287,000 after buying an additional 91 shares in the last quarter. RE Dickinson Investment Advisors LLC boosted its stake in shares of Duke Energy by 13.0% during the first quarter. RE Dickinson Investment Advisors LLC now owns 801 shares of the utilities provider’s stock valued at $89,000 after purchasing an additional 92 shares during the period. Kanawha Capital Management LLC boosted its stake in shares of Duke Energy by 1.7% during the first quarter. Kanawha Capital Management LLC now owns 5,634 shares of the utilities provider’s stock valued at $629,000 after purchasing an additional 93 shares during the period. Shepherd Financial Partners LLC boosted its stake in shares of Duke Energy by 0.5% during the first quarter. Shepherd Financial Partners LLC now owns 20,845 shares of the utilities provider’s stock valued at $2,326,000 after purchasing an additional 94 shares during the period. Finally, Asset Advisors Investment Management LLC boosted its stake in shares of Duke Energy by 3.1% during the first quarter. Asset Advisors Investment Management LLC now owns 3,121 shares of the utilities provider’s stock valued at $348,000 after purchasing an additional 95 shares during the period. Hedge funds and other institutional investors own 63.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Barclays dropped their price objective on Duke Energy from $119.00 to $110.00 in a research note on Monday, July 18th. UBS Group lowered Duke Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $122.00 to $112.00 in a research note on Thursday, June 30th. Credit Suisse Group lowered Duke Energy from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $112.00 to $114.00 in a research note on Friday, August 5th. KeyCorp dropped their price target on Duke Energy from $121.00 to $116.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. Finally, Morgan Stanley dropped their price target on Duke Energy from $123.00 to $121.00 and set an “equal weight” rating for the company in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $112.90.

Duke Energy Stock Down 1.7 %

DUK traded down $1.78 during trading on Friday, reaching $102.90. The stock had a trading volume of 49,385 shares, compared to its average volume of 2,190,135. The stock’s 50 day moving average is $108.48 and its two-hundred day moving average is $108.91. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $79.22 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 3.14 and a beta of 0.35. Duke Energy Co. has a one year low of $95.48 and a one year high of $116.33.

Duke Energy (NYSE:DUKGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The utilities provider reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.04). Duke Energy had a net margin of 14.50% and a return on equity of 8.42%. The company had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $5.79 billion. During the same quarter in the previous year, the business earned $1.15 earnings per share. Duke Energy’s revenue was up 16.1% compared to the same quarter last year. As a group, analysts expect that Duke Energy Co. will post 5.45 earnings per share for the current year.

Duke Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 12th were paid a $1.005 dividend. This represents a $4.02 annualized dividend and a dividend yield of 3.91%. The ex-dividend date was Thursday, August 11th. This is an increase from Duke Energy’s previous quarterly dividend of $0.99. Duke Energy’s dividend payout ratio is currently 81.38%.

Insider Transactions at Duke Energy

In other news, CFO Steven K. Young sold 415 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $107.75, for a total value of $44,716.25. Following the transaction, the chief financial officer now owns 114,072 shares in the company, valued at $12,291,258. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Steven K. Young sold 415 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $107.75, for a total value of $44,716.25. Following the transaction, the chief financial officer now owns 114,072 shares in the company, valued at $12,291,258. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Dhiaa M. Jamil sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $109.93, for a total transaction of $76,951.00. Following the completion of the sale, the chief operating officer now owns 58,957 shares in the company, valued at approximately $6,481,143.01. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,819 shares of company stock worth $856,533. Corporate insiders own 0.10% of the company’s stock.

Duke Energy Profile

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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; and uses coal, hydroelectric, natural gas, oil, renewable generation, and nuclear fuel to generate electricity.

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Institutional Ownership by Quarter for Duke Energy (NYSE:DUK)

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