Xponance Inc. Reduces Stake in Duke Energy Co. (NYSE:DUK)

Xponance Inc. lessened its position in shares of Duke Energy Co. (NYSE:DUK) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 104,087 shares of the utilities provider’s stock after selling 592 shares during the quarter. Xponance Inc.’s holdings in Duke Energy were worth $10,433,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of DUK. Pinnacle West Asset Management Inc. lifted its stake in shares of Duke Energy by 2.1% in the 2nd quarter. Pinnacle West Asset Management Inc. now owns 4,425 shares of the utilities provider’s stock worth $444,000 after purchasing an additional 90 shares during the period. Sachetta LLC increased its holdings in Duke Energy by 41.9% during the second quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock valued at $36,000 after buying an additional 96 shares during the last quarter. SeaCrest Wealth Management LLC raised its position in Duke Energy by 1.6% in the second quarter. SeaCrest Wealth Management LLC now owns 6,093 shares of the utilities provider’s stock worth $611,000 after acquiring an additional 98 shares during the period. Waddell & Associates LLC grew its position in shares of Duke Energy by 2.7% during the 2nd quarter. Waddell & Associates LLC now owns 3,753 shares of the utilities provider’s stock valued at $376,000 after acquiring an additional 99 shares during the period. Finally, Indiana Trust & Investment Management CO increased its stake in shares of Duke Energy by 4.9% in the 2nd quarter. Indiana Trust & Investment Management CO now owns 2,147 shares of the utilities provider’s stock worth $215,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Up 0.8 %

Shares of DUK opened at $117.31 on Tuesday. The business’s 50 day simple moving average is $112.79 and its 200-day simple moving average is $104.13. Duke Energy Co. has a 1 year low of $83.06 and a 1 year 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. The stock has a market capitalization of $90.54 billion, a price-to-earnings ratio of 29.47, a price-to-earnings-growth ratio of 3.19 and a beta of 0.47.

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

Duke Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were paid a dividend of $1.045 per share. The ex-dividend date was Friday, August 16th. This is a boost 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 3.56%. Duke Energy’s payout ratio is currently 105.03%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Jefferies Financial Group started coverage on Duke Energy in a report on Thursday, September 19th. They set a “buy” rating and a $138.00 price target for the company. Bank of America increased their target price on shares of Duke Energy from $116.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Morgan Stanley lifted their price target on shares of Duke Energy from $99.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Royal Bank of Canada restated an “outperform” rating and set a $135.00 price objective on shares of Duke Energy in a research report on Thursday, August 29th. Finally, Evercore ISI increased their price target on Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.36.

Insider Transactions at Duke Energy

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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.