Holderness Investments Co. Sells 375 Shares of Duke Energy Co. (NYSE:DUK)

Holderness Investments Co. lowered its position in shares of Duke Energy Co. (NYSE:DUK) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,790 shares of the utilities provider’s stock after selling 375 shares during the quarter. Duke Energy makes up approximately 1.0% of Holderness Investments Co.’s holdings, making the stock its 21st biggest holding. Holderness Investments Co.’s holdings in Duke Energy were worth $4,088,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in DUK. Wulff Hansen & CO. increased its holdings in shares of Duke Energy by 9,923.0% during the second quarter. Wulff Hansen & CO. now owns 769,265 shares of the utilities provider’s stock worth $77,103,000 after buying an additional 761,590 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Duke Energy by 4.8% during the fourth quarter. Capital Research Global Investors now owns 11,141,020 shares of the utilities provider’s stock worth $1,081,125,000 after purchasing an additional 509,039 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC acquired a new stake in shares of Duke Energy in the fourth quarter valued at $41,874,000. Morningstar Investment Services LLC raised its holdings in shares of Duke Energy by 96.1% in the fourth quarter. Morningstar Investment Services LLC now owns 789,612 shares of the utilities provider’s stock valued at $76,529,000 after buying an additional 387,038 shares during the last quarter. Finally, BROOKFIELD Corp ON acquired a new position in Duke Energy during the 1st quarter worth about $36,278,000. 65.31% of the stock is owned by institutional investors.

Duke Energy Stock Up 1.1 %

Shares of DUK stock opened at $116.37 on Friday. The company has a market capitalization of $89.81 billion, a price-to-earnings ratio of 29.24, a P/E/G ratio of 3.19 and a beta of 0.47. Duke Energy Co. has a 12-month low of $83.06 and a 12-month high of $118.31. The firm has a fifty day moving average of $112.55 and a 200-day moving average of $103.90. 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 (NYSE:DUK) last issued 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 company had revenue of $7.17 billion during 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 quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the business earned $0.91 EPS. As a group, equities research analysts predict that Duke Energy Co. will post 5.97 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were issued a dividend of $1.045 per share. This represents a $4.18 annualized dividend and a yield of 3.59%. The ex-dividend date was Friday, August 16th. This is a positive change from Duke Energy’s previous quarterly dividend of $1.03. Duke Energy’s dividend payout ratio is presently 105.03%.

Insider Activity at Duke Energy

In other news, EVP Louis E. Renjel sold 540 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 19,884 shares in the company, valued at approximately $2,259,617.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DUK. Jefferies Financial Group began coverage on shares of Duke Energy in a research note on Thursday. They issued a “buy” rating and a $138.00 target price for the company. JPMorgan Chase & Co. increased their price objective on Duke Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Morgan Stanley boosted their target price on Duke Energy from $99.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Barclays raised their price target on Duke Energy from $99.00 to $102.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Finally, Bank of America upped their target price on shares of Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Duke Energy presently has an average rating of “Moderate Buy” and an average target price of $116.36.

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.