Norden Group LLC Acquires 3,770 Shares of Duke Energy Co. (NYSE:DUK)

Norden Group LLC raised its stake in Duke Energy Co. (NYSE:DUKFree Report) by 141.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,443 shares of the utilities provider’s stock after buying an additional 3,770 shares during the quarter. Norden Group LLC’s holdings in Duke Energy were worth $623,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in DUK. Northwest Investment Counselors LLC bought a new position in shares of Duke Energy during the 1st quarter worth approximately $25,000. Altshuler Shaham Ltd acquired a new stake in Duke Energy in the 4th quarter valued at $26,000. Private Wealth Management Group LLC bought a new stake in Duke Energy during the 4th quarter worth about $26,000. Riverview Trust Co acquired a new position in shares of Duke Energy during the 1st quarter worth about $30,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in shares of Duke Energy in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 65.31% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Lynn J. Good sold 15,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $103.30, for a total transaction of $1,549,500.00. Following the completion of the transaction, the chief executive officer now owns 437,464 shares of the company’s stock, valued at approximately $45,190,031.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Lynn J. Good sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $103.30, for a total transaction of $1,549,500.00. Following the completion of the transaction, the chief executive officer now directly owns 437,464 shares in the company, valued at approximately $45,190,031.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director E Marie Mckee sold 1,695 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $102.31, for a total transaction of $173,415.45. Following the completion of the sale, the director now owns 4 shares in the company, valued at approximately $409.24. The disclosure for this sale can be found here. Insiders sold 26,695 shares of company stock worth $2,750,815 over the last three months. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on DUK shares. Scotiabank reduced their price target on Duke Energy from $101.00 to $94.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Barclays raised their target price on shares of Duke Energy from $99.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Morgan Stanley dropped their price target on shares of Duke Energy from $103.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Monday, June 24th. KeyCorp lifted their price objective on shares of Duke Energy from $107.00 to $112.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Finally, Bank of America upped their target price on shares of Duke Energy from $96.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Duke Energy has an average rating of “Moderate Buy” and an average price target of $102.33.

Read Our Latest Stock Report on Duke Energy

Duke Energy Stock Performance

DUK opened at $102.80 on Thursday. Duke Energy Co. has a 1 year low of $83.06 and a 1 year high of $104.87. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.78 and a quick ratio of 0.50. The company has a market capitalization of $79.34 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 2.76 and a beta of 0.45. The business has a fifty day simple moving average of $101.67 and a 200 day simple moving average of $97.64.

Duke Energy (NYSE:DUKGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.05. The business had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $7.31 billion. Duke Energy had a return on equity of 9.25% and a net margin of 10.78%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.20 earnings per share. Research analysts expect that Duke Energy Co. will post 5.97 EPS for the current year.

Duke Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 17th were given a dividend of $1.025 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $4.10 annualized dividend and a yield of 3.99%. Duke Energy’s dividend payout ratio is currently 103.02%.

Duke Energy Company Profile

(Free Report)

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.

Further Reading

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

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