Sky Investment Group LLC Has $4.54 Million Stock Position in Duke Energy Co. (NYSE:DUK)

Sky Investment Group LLC cut its position in Duke Energy Co. (NYSE:DUK) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,364 shares of the utilities provider’s stock after selling 840 shares during the period. Sky Investment Group LLC’s holdings in Duke Energy were worth $4,539,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp increased its holdings in Duke Energy by 65.7% during the 2nd quarter. Mackenzie Financial Corp now owns 2,052,969 shares of the utilities provider’s stock worth $205,769,000 after purchasing an additional 813,744 shares in the last quarter. Wulff Hansen & CO. raised its position in Duke Energy by 9,923.0% in the 2nd quarter. Wulff Hansen & CO. now owns 769,265 shares of the utilities provider’s stock valued at $77,103,000 after buying an additional 761,590 shares during the last quarter. BROOKFIELD Corp ON bought a new position in Duke Energy during the 1st quarter valued at $36,278,000. Capital Research Global Investors boosted its holdings in Duke Energy by 3.2% during the 1st quarter. Capital Research Global Investors now owns 11,493,340 shares of the utilities provider’s stock worth $1,111,521,000 after acquiring an additional 352,320 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Duke Energy by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 70,675,702 shares of the utilities provider’s stock worth $6,835,047,000 after acquiring an additional 324,289 shares in the last quarter. 65.31% of the stock is owned by institutional investors.

Duke Energy Price Performance

Shares of DUK traded down $1.12 during midday trading on Tuesday, hitting $118.77. 484,830 shares of the company traded hands, compared to its average volume of 3,040,971. Duke Energy Co. has a one year low of $85.79 and a one year high of $121.25. The firm has a market cap of $91.66 billion, a P/E ratio of 30.13, a PEG ratio of 3.06 and a beta of 0.46. 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 50-day moving average of $115.13 and a 200-day moving average of $106.98.

Duke Energy (NYSE:DUK) last posted its earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.16. The business had revenue of $7.17 billion for 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 for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 EPS. As a group, sell-side analysts predict that Duke Energy Co. will post 5.97 EPS for the current fiscal year.

Duke Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $1.045 dividend. The ex-dividend date is Friday, November 15th. This represents a $4.18 dividend on an annualized basis and a yield of 3.52%. Duke Energy’s dividend payout ratio is currently 105.03%.

Insider Buying and Selling at Duke Energy

In other Duke Energy news, EVP Louis E. Renjel sold 540 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 19,884 shares of the company’s stock, valued at $2,259,617.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DUK shares. Wells Fargo & Company lifted their target price 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. Scotiabank upped their price objective on Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. BMO Capital Markets lifted their target price on Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. Bank of America raised their price objective 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $135.00 target price on shares of Duke Energy in a research note on Thursday, August 29th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $121.85.

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.