McLean Asset Management Corp Sells 504 Shares of Duke Energy Co. (NYSE:DUK)

McLean Asset Management Corp lessened its position in Duke Energy Co. (NYSE:DUK) by 16.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,479 shares of the utilities provider’s stock after selling 504 shares during the period. McLean Asset Management Corp’s holdings in Duke Energy were worth $283,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors 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 about $25,000. Fortitude Family Office LLC boosted its stake in shares of Duke Energy by 69.6% in the 2nd quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 119 shares during the last quarter. Olistico Wealth LLC acquired a new position in shares of Duke Energy during the 2nd quarter valued at $30,000. Riverview Trust Co acquired a new position in Duke Energy during the first quarter worth $30,000. Finally, Sachetta LLC raised its holdings in Duke Energy by 41.9% during the second quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock worth $36,000 after buying an additional 96 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.

Insider Transactions at Duke Energy

In other news, EVP Louis E. Renjel sold 540 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $113.64, for a total transaction of $61,365.60. Following the transaction, the executive vice president now owns 19,884 shares of the company’s stock, valued at approximately $2,259,617.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DUK. The Goldman Sachs Group increased their price target 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. Wells Fargo & Company lifted their price target 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. Morgan Stanley lifted their price target on shares of Duke Energy from $114.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group assumed coverage on shares of Duke Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $138.00 target price on the stock. Finally, Bank of America lifted their price target on shares of Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $118.21.

Duke Energy Stock Performance

Shares of Duke Energy stock traded down $3.82 during trading hours on Monday, reaching $110.23. 5,865,519 shares of the stock traded hands, compared to its average volume of 3,007,051. The company has a 50 day moving average price of $114.28 and a 200 day moving average price of $105.43. The firm has a market capitalization of $85.07 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 3.22 and a beta of 0.46. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. Duke Energy Co. has a one year low of $85.79 and a one year high of $118.31.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.16. The business had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $6.84 billion. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. The firm’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. On average, equities research analysts expect that Duke Energy Co. will post 5.97 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 3.79%. Duke Energy’s payout ratio is 105.03%.

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.