Alpha Cubed Investments LLC Sells 1,325 Shares of Duke Energy Co. (NYSE:DUK)

Alpha Cubed Investments LLC lessened its stake in shares of Duke Energy Co. (NYSE:DUK) by 42.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,764 shares of the utilities provider’s stock after selling 1,325 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Duke Energy were worth $203,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its holdings in Duke Energy by 3.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 435,157 shares of the utilities provider’s stock valued at $42,084,000 after purchasing an additional 13,406 shares during the last quarter. Duality Advisers LP grew its stake in Duke Energy by 57.8% in the 1st quarter. Duality Advisers LP now owns 27,071 shares of the utilities provider’s stock valued at $2,618,000 after buying an additional 9,917 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in Duke Energy by 63.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 44,710 shares of the utilities provider’s stock worth $4,324,000 after acquiring an additional 17,420 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Duke Energy by 9.4% in the first quarter. Janus Henderson Group PLC now owns 108,819 shares of the utilities provider’s stock valued at $10,520,000 after purchasing an additional 9,334 shares during the last quarter. Finally, Goodman Advisory Group LLC bought a new position in shares of Duke Energy in the second quarter worth about $2,888,000. 65.31% of the stock is owned by institutional investors.

Duke Energy Stock Performance

Duke Energy stock opened at $110.67 on Wednesday. The firm has a market capitalization of $85.41 billion, a P/E ratio of 27.81, a P/E/G ratio of 3.22 and a beta of 0.46. The stock has a fifty day moving average price of $114.31 and a two-hundred day moving average price of $105.54. Duke Energy Co. has a 52-week low of $85.79 and a 52-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. 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 firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the company posted $0.91 EPS. As a group, analysts anticipate that Duke Energy Co. will post 5.97 EPS for the current fiscal year.

Duke Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 dividend on an annualized basis and a yield of 3.78%. Duke Energy’s dividend payout ratio is 105.03%.

Analysts Set New Price Targets

Several research analysts have commented on DUK shares. Barclays lifted their price target on Duke Energy from $102.00 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. KeyCorp increased their price target on shares of Duke Energy from $121.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, September 30th. BMO Capital Markets upped 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. Wells Fargo & Company boosted their price target on Duke Energy from $110.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, 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. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $118.21.

Insider Buying and Selling at Duke Energy

In other news, EVP Louis E. Renjel sold 540 shares of the firm’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 completion of the sale, the executive vice president now directly owns 19,884 shares in the company, valued at approximately $2,259,617.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.10% of the company’s stock.

Duke Energy 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.