Duke Energy Co. (NYSE:DUK) Stock Position Lessened by Richardson Financial Services Inc.

Richardson Financial Services Inc. reduced its stake in shares of Duke Energy Co. (NYSE:DUK) by 15.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,568 shares of the utilities provider’s stock after selling 469 shares during the quarter. Richardson Financial Services Inc.’s holdings in Duke Energy were worth $257,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in shares of Duke Energy in the 1st quarter worth approximately $25,000. Fortitude Family Office LLC lifted its position in Duke Energy by 69.6% in the second quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 119 shares during the period. Riverview Trust Co bought a new position in Duke Energy during the 1st quarter valued at $30,000. Olistico Wealth LLC bought a new stake in shares of Duke Energy in the 2nd quarter worth $30,000. Finally, Cedar Wealth Management LLC raised its stake 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 worth $32,000 after buying an additional 169 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Price Performance

Shares of NYSE:DUK opened at $115.90 on Thursday. The stock has a market capitalization of $89.45 billion, a P/E ratio of 29.12, a P/E/G ratio of 3.19 and a beta of 0.47. The business has a 50-day moving average of $112.11 and a two-hundred day moving average of $103.58. Duke Energy Co. has a fifty-two week low of $83.06 and a fifty-two week high of $118.31. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.81 and a quick ratio of 0.53.

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

Duke Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were paid a $1.045 dividend. The ex-dividend date of this dividend was Friday, August 16th. This is a positive change from Duke Energy’s previous quarterly dividend of $1.03. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.61%. Duke Energy’s payout ratio is presently 105.03%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DUK. Evercore ISI lifted their target price on Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Barclays increased their target price on shares of Duke Energy from $99.00 to $102.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Bank of America upped their price target on Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. increased their price target on Duke Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Finally, KeyCorp boosted their price objective on Duke Energy from $117.00 to $121.00 and gave the stock an “overweight” rating in a report on Monday. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Duke Energy currently has an average rating of “Hold” and an average target price of $114.69.

Insider Activity at Duke Energy

In other news, EVP Louis E. Renjel sold 540 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 19,884 shares of the company’s stock, valued at $2,259,617.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.10% of the stock is owned by corporate insiders.

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.