Ascent Group LLC Reduces Stake in Duke Energy Co. (NYSE:DUK)

Ascent Group LLC decreased its holdings in shares of Duke Energy Co. (NYSE:DUK) by 15.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,106 shares of the utilities provider’s stock after selling 4,790 shares during the quarter. Ascent Group LLC’s holdings in Duke Energy were worth $2,717,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC acquired a new stake in shares of Duke Energy during the first quarter worth about $25,000. Fortitude Family Office LLC increased its position in Duke Energy by 69.6% during the second quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after buying an additional 119 shares during the period. Riverview Trust Co purchased a new stake in Duke Energy in the first quarter valued at approximately $30,000. Olistico Wealth LLC acquired a new stake in shares of Duke Energy in the second quarter valued at approximately $30,000. Finally, Cedar Wealth Management LLC increased its holdings in shares of Duke Energy by 101.2% in the 1st quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 169 shares during the period. 65.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DUK. Wells Fargo & Company increased their price target on shares of Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Jefferies Financial Group began coverage on Duke Energy in a report on Thursday, September 19th. They set a “buy” rating and a $138.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $135.00 price objective on shares of Duke Energy in a research report on Thursday, August 29th. The Goldman Sachs Group boosted their target price on Duke Energy from $102.00 to $113.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Finally, BMO Capital Markets increased their price target on Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Duke Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.79.

Insider Activity

In related news, EVP Louis E. Renjel sold 540 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $113.64, for a total value of $61,365.60. Following the sale, the executive vice president now directly owns 19,884 shares of the company’s stock, valued at approximately $2,259,617.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.10% of the company’s stock.

Duke Energy Stock Performance

Shares of DUK opened at $115.97 on Monday. The company has a market capitalization of $89.50 billion, a PE ratio of 29.14, a P/E/G ratio of 3.22 and a beta of 0.47. Duke Energy Co. has a 52-week low of $83.06 and a 52-week high of $118.31. The company has a 50-day simple moving average of $113.50 and a 200-day simple moving average of $104.71. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.56.

Duke Energy (NYSE:DUK) last issued its earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. The company had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $6.84 billion. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. Equities research analysts predict that Duke Energy Co. will post 5.97 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were issued a $1.045 dividend. This is a positive change from Duke Energy’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, August 16th. This represents a $4.18 annualized dividend and a yield of 3.60%. Duke Energy’s dividend payout ratio is 105.03%.

About Duke Energy

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.