Burkett Financial Services LLC Increases Holdings in Duke Energy Co. (NYSE:DUK)

Burkett Financial Services LLC raised its stake in Duke Energy Co. (NYSE:DUK) by 19.2% during the third quarter, HoldingsChannel reports. The fund owned 11,643 shares of the utilities provider’s stock after buying an additional 1,879 shares during the period. Duke Energy comprises approximately 0.6% of Burkett Financial Services LLC’s holdings, making the stock its 18th largest position. Burkett Financial Services LLC’s holdings in Duke Energy were worth $1,342,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new stake in shares of Duke Energy in the 1st quarter worth $25,000. Fortitude Family Office LLC increased 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 in the last quarter. Riverview Trust Co purchased a new position in Duke Energy in the 1st quarter worth about $30,000. Olistico Wealth LLC bought a new position in Duke Energy during the 2nd quarter valued at about $30,000. Finally, Cedar Wealth Management LLC boosted its holdings in shares of Duke Energy by 101.2% during 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 last quarter. 65.31% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Louis E. Renjel sold 540 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $113.64, for a total transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DUK shares. JPMorgan Chase & Co. raised their target price on shares of Duke Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Evercore ISI lifted their price objective on Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. BMO Capital Markets raised their target price on Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. The Goldman Sachs Group boosted their price objective on shares of Duke Energy from $102.00 to $113.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $135.00 price target on shares of Duke Energy in a report on Thursday, August 29th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Duke Energy currently has an average rating of “Moderate Buy” and a consensus price target of $118.21.

Duke Energy Trading Down 0.1 %

NYSE:DUK traded down $0.08 during midday trading on Wednesday, hitting $110.59. 820,661 shares of the company traded hands, compared to its average volume of 3,005,547. The firm’s fifty day moving average is $114.32 and its 200-day moving average is $105.65. The firm has a market capitalization of $85.35 billion, a P/E ratio of 27.81, a P/E/G ratio of 3.22 and a beta of 0.46. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.56. Duke Energy Co. has a 12-month low of $85.79 and a 12-month high of $118.31.

Duke Energy (NYSE:DUK) last issued its quarterly 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 analyst estimates of $6.84 billion. During the same period last year, the company earned $0.91 EPS. Duke Energy’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, sell-side analysts predict that Duke Energy Co. will post 5.97 EPS for the current year.

Duke Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Friday, November 15th. Duke Energy’s dividend payout ratio (DPR) is presently 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.