GAMMA Investing LLC Increases Stake in Duke Energy Co. (NYSE:DUK)

GAMMA Investing LLC increased its holdings in Duke Energy Co. (NYSE:DUK) by 35.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,857 shares of the utilities provider’s stock after purchasing an additional 2,605 shares during the period. GAMMA Investing LLC’s holdings in Duke Energy were worth $1,137,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in DUK. Northwest Investment Counselors LLC purchased a new stake in shares of Duke Energy in the 1st quarter valued at $25,000. Fortitude Family Office LLC raised its holdings in Duke Energy by 69.6% during the 2nd 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 last quarter. Riverview Trust Co bought a new stake in Duke Energy during the 1st quarter valued at $30,000. Olistico Wealth LLC bought a new stake in Duke Energy during the 2nd quarter valued at $30,000. Finally, Cedar Wealth Management LLC raised its holdings in Duke Energy by 101.2% during the 1st quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider’s stock valued at $32,000 after buying an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Price Performance

NYSE DUK opened at $110.22 on Tuesday. The business’s fifty day moving average price is $114.28 and its 200-day moving average price is $105.43. The stock has a market capitalization of $85.06 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 3.22 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. Duke Energy Co. has a 1-year low of $85.79 and a 1-year high of $118.31.

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 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 firm 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 firm earned $0.91 EPS. The company’s revenue was up 9.0% compared to the same quarter last year. On average, equities analysts predict that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a yield of 3.79%. Duke Energy’s dividend payout ratio is currently 105.03%.

Wall Street Analyst Weigh In

A number of research firms recently commented on DUK. Royal Bank of Canada reiterated an “outperform” rating and set a $135.00 price target on shares of Duke Energy in a report on Thursday, August 29th. JPMorgan Chase & Co. increased their price target on shares of Duke Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Evercore ISI increased their price target on shares of Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. BMO Capital Markets lifted their target price on shares of Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Finally, KeyCorp lifted their target price on shares of Duke Energy from $121.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Duke Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.21.

Insider Buying and Selling

In related news, EVP Louis E. Renjel sold 540 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 19,884 shares of the company’s stock, valued at approximately $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 can be accessed through this link. 0.10% of the stock is owned by insiders.

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.