Regal Investment Advisors LLC Reduces Stake in Duke Energy Co. (NYSE:DUK)

Regal Investment Advisors LLC trimmed its stake in Duke Energy Co. (NYSE:DUK) by 12.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,222 shares of the utilities provider’s stock after selling 4,777 shares during the period. Regal Investment Advisors LLC’s holdings in Duke Energy were worth $3,430,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DUK. Northwest Investment Counselors LLC bought a new stake in shares of Duke Energy during the 1st quarter worth approximately $25,000. Fortitude Family Office LLC grew its stake in Duke Energy by 69.6% in the 2nd quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 119 shares in the last quarter. Riverview Trust Co purchased a new position in shares of Duke Energy during the first quarter worth approximately $30,000. Olistico Wealth LLC purchased a new position in Duke Energy during the 2nd quarter worth $30,000. Finally, Cedar Wealth Management LLC lifted its holdings in shares of Duke Energy by 101.2% in the 1st quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider’s stock worth $32,000 after buying an additional 169 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Performance

Shares of NYSE DUK opened at $115.30 on Tuesday. The company has a 50 day simple moving average of $113.65 and a two-hundred day simple moving average of $104.85. The stock has a market cap of $88.98 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 3.22 and a beta of 0.47. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.56. Duke Energy Co. has a 12 month low of $83.06 and a 12 month high of $118.31.

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

Duke Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were paid a dividend of $1.045 per share. This represents a $4.18 annualized dividend and a dividend yield of 3.63%. This is an increase from Duke Energy’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, August 16th. Duke Energy’s dividend payout ratio is presently 105.03%.

Insider Activity

In other Duke Energy news, EVP Louis E. Renjel sold 540 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $113.64, for a total transaction of $61,365.60. Following the transaction, the executive vice president now directly owns 19,884 shares of the company’s stock, valued at $2,259,617.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on DUK shares. Jefferies Financial Group began coverage on Duke Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $138.00 price objective for the company. The Goldman Sachs Group increased their target price on shares of Duke Energy from $102.00 to $113.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Morgan Stanley upped their price target on Duke Energy from $114.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Scotiabank boosted their target price on Duke Energy from $104.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Finally, KeyCorp raised their price target on Duke Energy from $121.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $117.07.

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.