Strategic Financial Concepts LLC Buys New Shares in Duke Energy Co. (NYSE:DUK)

Strategic Financial Concepts LLC bought a new stake in shares of Duke Energy Co. (NYSE:DUK) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 102,462 shares of the utilities provider’s stock, valued at approximately $103,000.

Several other large investors have also recently bought and sold shares of the stock. SeaCrest Wealth Management LLC grew its stake in shares of Duke Energy by 1.6% in the second quarter. SeaCrest Wealth Management LLC now owns 6,093 shares of the utilities provider’s stock valued at $611,000 after buying an additional 98 shares in the last quarter. Indiana Trust & Investment Management CO grew its stake in shares of Duke Energy by 4.9% in the second quarter. Indiana Trust & Investment Management CO now owns 2,147 shares of the utilities provider’s stock valued at $215,000 after buying an additional 100 shares in the last quarter. Sound Income Strategies LLC grew its stake in shares of Duke Energy by 6.5% in the second quarter. Sound Income Strategies LLC now owns 1,706 shares of the utilities provider’s stock valued at $171,000 after buying an additional 104 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its stake in shares of Duke Energy by 3.3% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,390 shares of the utilities provider’s stock valued at $328,000 after buying an additional 109 shares in the last quarter. Finally, Breakwater Capital Group grew its stake in shares of Duke Energy by 3.9% in the first quarter. Breakwater Capital Group now owns 2,912 shares of the utilities provider’s stock valued at $282,000 after buying an additional 109 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Stock Down 0.2 %

DUK opened at $116.93 on Wednesday. Duke Energy Co. has a fifty-two week low of $83.06 and a fifty-two week high of $118.18. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.53 and a current ratio of 0.81. The company has a market capitalization of $90.24 billion, a P/E ratio of 29.38, a P/E/G ratio of 3.20 and a beta of 0.46. The stock has a fifty day moving average of $110.21 and a 200-day moving average of $102.58.

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

Duke Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 16th will be paid a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Friday, August 16th. This is an increase from Duke Energy’s previous quarterly dividend of $1.03. Duke Energy’s payout ratio is 105.03%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. BMO Capital Markets raised their target price on shares of Duke Energy from $114.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Scotiabank lifted their price objective on shares of Duke Energy from $104.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. The Goldman Sachs Group lifted their price objective on shares of Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Barclays lifted their price objective on shares of Duke Energy from $99.00 to $102.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Duke Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Duke Energy presently has an average rating of “Hold” and a consensus target price of $113.92.

Insider Activity at Duke Energy

In related news, EVP Louis E. Renjel sold 540 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $113.64, for a total value of $61,365.60. Following the completion of the transaction, the executive vice president now owns 19,884 shares of the company’s stock, valued at $2,259,617.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.10% of the stock is owned by insiders.

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.