Duke Energy Co. (NYSE:DUK) Shares Sold by Estabrook Capital Management

Estabrook Capital Management decreased its holdings in Duke Energy Co. (NYSE:DUK) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 53,735 shares of the utilities provider’s stock after selling 430 shares during the period. Estabrook Capital Management’s holdings in Duke Energy were worth $5,386,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Northwest Investment Counselors LLC acquired a new position in Duke Energy during the first quarter worth $25,000. Fortitude Family Office LLC grew its holdings in shares of Duke Energy by 69.6% in the second 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 period. Olistico Wealth LLC purchased a new position in Duke Energy during the second quarter worth about $30,000. Riverview Trust Co acquired a new position in Duke Energy in the 1st quarter valued at about $30,000. Finally, Sachetta LLC raised its position in shares of Duke Energy by 41.9% during the 2nd quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock valued at $36,000 after buying an additional 96 shares during the period. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Louis E. Renjel sold 540 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 19,884 shares in the company, valued at approximately $2,259,617.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is owned by insiders.

Duke Energy Stock Performance

Shares of DUK stock opened at $116.37 on Friday. The firm has a 50 day moving average of $112.55 and a two-hundred day moving average of $103.90. The stock has a market capitalization of $89.81 billion, a PE ratio of 29.24, a P/E/G ratio of 3.19 and a beta of 0.47. 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 52 week low of $83.06 and a 52 week high of $118.31.

Duke Energy (NYSE:DUK) last released its earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.84 billion. During the same period last year, the business posted $0.91 earnings per share. Duke Energy’s revenue was up 9.0% compared to the same quarter last year. On average, research analysts predict that Duke Energy Co. will post 5.97 EPS for the current fiscal year.

Duke Energy Increases Dividend

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

Analyst Upgrades and Downgrades

DUK has been the subject of several analyst reports. Wells Fargo & Company increased their price objective on Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective on Duke Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. KeyCorp upped their target price on shares of Duke Energy from $117.00 to $121.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. The Goldman Sachs Group lifted 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $135.00 price objective on shares of Duke Energy in a report on Thursday, August 29th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.36.

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.