SouthState Corp Sells 1,616 Shares of Duke Energy Co. (NYSE:DUK)

SouthState Corp decreased its holdings in shares of Duke Energy Co. (NYSE:DUK) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 83,593 shares of the utilities provider’s stock after selling 1,616 shares during the quarter. SouthState Corp’s holdings in Duke Energy were worth $8,112,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Legacy Financial Group LLC bought a new stake in Duke Energy during the 3rd quarter valued at $45,000. Fortis Group Advisors LLC purchased a new position in Duke Energy in the 3rd quarter worth $50,000. Bruce G. Allen Investments LLC purchased a new position in Duke Energy in the 4th quarter worth $71,000. PFS Partners LLC raised its stake in Duke Energy by 145.0% in the 4th quarter. PFS Partners LLC now owns 735 shares of the utilities provider’s stock worth $71,000 after acquiring an additional 435 shares during the last quarter. Finally, Operose Advisors LLC grew its position in Duke Energy by 263.2% during the 3rd quarter. Operose Advisors LLC now owns 868 shares of the utilities provider’s stock worth $77,000 after purchasing an additional 629 shares during the period. Institutional investors own 65.31% of the company’s stock.

Duke Energy Price Performance

Shares of NYSE DUK traded down $0.47 during midday trading on Thursday, reaching $99.31. The company’s stock had a trading volume of 2,641,217 shares, compared to its average volume of 2,986,875. The company has a 50 day moving average price of $95.24 and a 200 day moving average price of $93.98. Duke Energy Co. has a one year low of $83.06 and a one year high of $100.56. The company has a market cap of $76.61 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 2.62 and a beta of 0.45. The company has a current ratio of 0.74, a quick ratio of 0.49 and a debt-to-equity ratio of 1.50.

Duke Energy (NYSE:DUK) last posted its earnings results on Thursday, February 8th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.02). Duke Energy had a net margin of 9.78% and a return on equity of 8.93%. The business had revenue of $7.21 billion during the quarter, compared to analyst estimates of $7.24 billion. During the same quarter last year, the firm earned $1.11 earnings per share. Duke Energy’s revenue was down 1.9% compared to the same quarter last year. On average, equities research analysts expect that Duke Energy Co. will post 5.98 EPS for the current year.

Insider Activity at Duke Energy

In related news, EVP Louis E. Renjel sold 3,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $92.57, for a total transaction of $277,710.00. Following the completion of the sale, the executive vice president now owns 14,213 shares in the company, valued at approximately $1,315,697.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on DUK shares. Royal Bank of Canada raised Duke Energy from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $101.00 to $113.00 in a research report on Wednesday, January 10th. BMO Capital Markets lowered their price objective on Duke Energy from $101.00 to $99.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. Evercore ISI raised shares of Duke Energy from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $90.00 to $108.00 in a research note on Tuesday, January 23rd. KeyCorp lifted their price target on shares of Duke Energy from $106.00 to $107.00 and gave the company an “overweight” rating in a research report on Thursday, January 4th. Finally, Mizuho lifted their price target on shares of Duke Energy from $89.00 to $99.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $100.62.

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.