Simplicity Wealth LLC Lowers Holdings in Duke Energy Co. (NYSE:DUK)

Simplicity Wealth LLC trimmed its position in Duke Energy Co. (NYSE:DUK) by 91.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,034 shares of the utilities provider’s stock after selling 22,195 shares during the period. Simplicity Wealth LLC’s holdings in Duke Energy were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new position in Duke Energy in the 1st quarter valued at $25,000. Fortitude Family Office LLC boosted its position in shares of Duke Energy by 69.6% during the 2nd quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 119 shares in the last quarter. Olistico Wealth LLC purchased a new stake in shares of Duke Energy during the 2nd quarter worth $30,000. Riverview Trust Co purchased a new stake in shares of Duke Energy during the 1st quarter worth $30,000. Finally, Sachetta LLC boosted its position in shares of Duke Energy by 41.9% during the 2nd quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 96 shares in the last quarter. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on DUK shares. BMO Capital Markets boosted their target price on shares of 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 target price 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. Scotiabank boosted their target price 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. Wells Fargo & Company boosted their price objective on shares of Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, KeyCorp increased their price objective on shares of Duke Energy from $121.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.15.

Insider Transactions at Duke Energy

In other 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 transaction of $61,365.60. Following the transaction, the executive vice president now directly owns 19,884 shares in the company, valued at $2,259,617.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.10% of the company’s stock.

Duke Energy Price Performance

NYSE:DUK opened at $115.14 on Tuesday. The firm has a market cap of $88.86 billion, a price-to-earnings ratio of 28.93, a price-to-earnings-growth ratio of 3.06 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. The company’s 50-day moving average is $114.46 and its two-hundred day moving average is $106.16. Duke Energy Co. has a 12-month low of $85.79 and a 12-month high of $118.31.

Duke Energy (NYSE:DUK) last released 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 for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS. Research analysts expect that Duke Energy Co. will post 5.97 EPS for the current year.

Duke Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a dividend of $1.045 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.18 annualized dividend and a dividend yield of 3.63%. Duke Energy’s payout ratio is currently 105.03%.

Duke Energy Company 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.