Creative Planning Raises Stake in Duke Energy Co. (NYSE:DUK)

Creative Planning increased its stake in shares of Duke Energy Co. (NYSE:DUK) by 9.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 304,434 shares of the utilities provider’s stock after buying an additional 25,937 shares during the quarter. Creative Planning’s holdings in Duke Energy were worth $35,101,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new position in Duke Energy in the first quarter valued at approximately $25,000. Fortitude Family Office LLC raised its stake in shares of Duke Energy by 69.6% in the second quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock valued at $29,000 after buying an additional 119 shares during the period. Riverview Trust Co bought a new position in shares of Duke Energy during the 1st quarter worth $30,000. Olistico Wealth LLC purchased a new stake in Duke Energy in the 2nd quarter worth about $30,000. Finally, Cedar Wealth Management LLC raised its stake in Duke Energy by 101.2% in 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 period. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Duke Energy

In related news, EVP Louis E. Renjel sold 540 shares of Duke Energy stock in a transaction on Thursday, August 8th. The shares were 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 in the company, valued at $2,259,617.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.10% of the company’s stock.

Duke Energy Price Performance

Shares of NYSE:DUK opened at $120.76 on Monday. The company’s fifty day moving average price is $115.00 and its 200-day moving average price is $106.82. 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 firm has a market capitalization of $93.20 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 3.06 and a beta of 0.46. Duke Energy Co. has a one year low of $85.79 and a one year high of $120.85.

Duke Energy (NYSE:DUK) last released its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share for the quarter, beating 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 business had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $6.84 billion. During the same quarter last year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, equities research analysts anticipate that Duke Energy Co. will post 5.97 earnings per share 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. Shareholders 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 yield of 3.46%. The ex-dividend date is Friday, November 15th. Duke Energy’s payout ratio is currently 105.03%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. KeyCorp increased their target price on shares of Duke Energy from $121.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. boosted their target price on shares of Duke Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Evercore ISI raised their price target on Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Mizuho raised Duke Energy from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $116.00 to $121.00 in a report on Tuesday, October 15th. Finally, Bank of America lifted their target price on Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.85.

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.