Smith Chas P & Associates PA Cpas Buys 557 Shares of Duke Energy Co. (NYSE:DUK)

Smith Chas P & Associates PA Cpas increased its position in shares of Duke Energy Co. (NYSE:DUK) by 10.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,889 shares of the utilities provider’s stock after acquiring an additional 557 shares during the quarter. Smith Chas P & Associates PA Cpas’ holdings in Duke Energy were worth $679,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in DUK. Northwest Investment Counselors LLC bought a new position in Duke Energy in the first quarter valued at approximately $25,000. Fortitude Family Office LLC grew its stake in shares of Duke Energy by 69.6% during the second quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 119 shares during the period. Riverview Trust Co bought a new stake in Duke Energy in the first quarter valued at about $30,000. Olistico Wealth LLC acquired a new position in shares of Duke Energy in the 2nd quarter valued at $30,000. Finally, Cedar Wealth Management LLC increased its stake in Duke Energy by 101.2% during the 1st quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 169 shares in the last quarter. Institutional investors own 65.31% of the company’s stock.

Insider Activity at Duke Energy

In other Duke Energy news, EVP Louis E. Renjel sold 540 shares of Duke Energy stock in a transaction that occurred 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DUK has been the subject of several analyst reports. Barclays raised their target price on shares of Duke Energy from $102.00 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. KeyCorp lifted their price target on Duke Energy from $121.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Jefferies Financial Group began coverage on Duke Energy in a report on Thursday, September 19th. They set a “buy” rating and a $138.00 target price for the company. Scotiabank upped their price target on shares of Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company lifted their price objective on shares of Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.15.

Duke Energy Price Performance

Shares of NYSE:DUK opened at $114.17 on Monday. The firm has a market cap of $88.11 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 3.06 and a beta of 0.46. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.53 and a current ratio of 0.81. Duke Energy Co. has a 52 week low of $85.79 and a 52 week high of $118.31. The firm’s fifty day moving average is $114.38 and its 200-day moving average is $106.03.

Duke Energy (NYSE:DUK) last announced its earnings results on Tuesday, August 6th. The utilities provider reported $1.18 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $6.84 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. Sell-side analysts predict that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date is Friday, November 15th. Duke Energy’s dividend payout ratio is 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.