Burkett Financial Services LLC Purchases 1,879 Shares of Duke Energy Co. (NYSE:DUK)

Burkett Financial Services LLC grew its position in shares of Duke Energy Co. (NYSE:DUK) by 19.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,643 shares of the utilities provider’s stock after acquiring an additional 1,879 shares during the quarter. Duke Energy accounts for 0.6% of Burkett Financial Services LLC’s holdings, making the stock its 18th biggest position. Burkett Financial Services LLC’s holdings in Duke Energy were worth $1,342,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mackenzie Financial Corp grew its stake in shares of Duke Energy by 65.7% in the second quarter. Mackenzie Financial Corp now owns 2,052,969 shares of the utilities provider’s stock valued at $205,769,000 after buying an additional 813,744 shares in the last quarter. Wulff Hansen & CO. increased its position in 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 during the last quarter. BROOKFIELD Corp ON acquired a new stake in shares of Duke Energy in the first quarter valued at approximately $36,278,000. Capital Research Global Investors boosted its stake in shares of Duke Energy by 3.2% during the 1st quarter. Capital Research Global Investors now owns 11,493,340 shares of the utilities provider’s stock worth $1,111,521,000 after acquiring an additional 352,320 shares during the period. Finally, Vanguard Group Inc. raised its stake in Duke Energy by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 70,675,702 shares of the utilities provider’s stock valued at $6,835,047,000 after acquiring an additional 324,289 shares during the period. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on DUK shares. Morgan Stanley upped their target price on Duke Energy from $114.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. The Goldman Sachs Group upped their price target on shares of Duke Energy from $102.00 to $113.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. upped their price objective on shares of Duke Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Bank of America upped their target price on Duke Energy from $116.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company boosted their price target on Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $118.21.

Duke Energy Stock Performance

NYSE DUK traded down $0.08 during trading hours on Wednesday, reaching $110.59. 820,661 shares of the company were exchanged, compared to its average volume of 3,005,547. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $85.35 billion, a P/E ratio of 27.81, a P/E/G ratio of 3.22 and a beta of 0.46. Duke Energy Co. has a 1 year low of $85.79 and a 1 year high of $118.31. The business’s 50 day simple moving average is $114.32 and its 200-day simple moving average is $105.65.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. The company 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 company posted $0.91 EPS. Duke Energy’s revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts expect that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $1.045 dividend. This represents a $4.18 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s payout ratio is 105.03%.

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.