Alpha Omega Wealth Management LLC Sells 1,409 Shares of Duke Energy Co. (NYSE:DUK)

Alpha Omega Wealth Management LLC reduced its stake in shares of Duke Energy Co. (NYSE:DUK) by 9.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,820 shares of the utilities provider’s stock after selling 1,409 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Duke Energy were worth $1,478,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DUK. Northwest Investment Counselors LLC purchased a new position in Duke Energy during the first quarter valued at approximately $25,000. Fortitude Family Office LLC boosted its holdings in Duke Energy by 69.6% in the 2nd 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. Olistico Wealth LLC purchased a new stake in Duke Energy in the 2nd quarter worth $30,000. Riverview Trust Co bought a new stake in Duke Energy during the first quarter valued at about $30,000. Finally, Sachetta LLC lifted its position in shares of Duke Energy by 41.9% in the second quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 96 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors.

Duke Energy Stock Performance

NYSE DUK opened at $115.76 on Friday. The company has a market cap of $89.34 billion, a P/E ratio of 29.09, a P/E/G ratio of 3.22 and a beta of 0.46. The business’s 50 day moving average price is $114.16 and its 200-day moving average price is $105.16. 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 quick ratio of 0.53 and a current ratio of 0.81.

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

Duke Energy Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DUK. Jefferies Financial Group started coverage on Duke Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $138.00 target price for the company. BMO Capital Markets lifted their price objective on shares of Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Royal Bank of Canada restated an “outperform” rating and set a $135.00 target price on shares of Duke Energy in a research report on Thursday, August 29th. Evercore ISI boosted their price target on shares of Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, KeyCorp lifted their target price on Duke Energy from $121.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Duke Energy presently has an average rating of “Moderate Buy” and an average target price of $118.21.

Insider Transactions at Duke Energy

In other Duke Energy news, EVP Louis E. Renjel sold 540 shares of the company’s stock in a transaction 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 transaction, the executive vice president now 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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.10% of the company’s stock.

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.