Northcape Wealth Management LLC Boosts Stock Position in Duke Energy Co. (NYSE:DUK)

Northcape Wealth Management LLC grew its stake in Duke Energy Co. (NYSE:DUK) by 1.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,513 shares of the utilities provider’s stock after purchasing an additional 220 shares during the period. Northcape Wealth Management LLC’s holdings in Duke Energy were worth $1,354,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of DUK. SeaCrest Wealth Management LLC raised its holdings in Duke Energy by 1.6% during the second quarter. SeaCrest Wealth Management LLC now owns 6,093 shares of the utilities provider’s stock worth $611,000 after purchasing an additional 98 shares in the last quarter. Indiana Trust & Investment Management CO increased its position in Duke Energy by 4.9% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 2,147 shares of the utilities provider’s stock worth $215,000 after purchasing an additional 100 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of Duke Energy by 6.5% in the 2nd quarter. Sound Income Strategies LLC now owns 1,706 shares of the utilities provider’s stock valued at $171,000 after buying an additional 104 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its stake in shares of Duke Energy by 3.3% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,390 shares of the utilities provider’s stock valued at $328,000 after buying an additional 109 shares in the last quarter. Finally, Breakwater Capital Group raised its position in Duke Energy by 3.9% in the first quarter. Breakwater Capital Group now owns 2,912 shares of the utilities provider’s stock worth $282,000 after acquiring an additional 109 shares in the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Louis E. Renjel sold 540 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 19,884 shares in the company, valued at $2,259,617.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. BMO Capital Markets boosted their target price on shares of Duke Energy from $114.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price 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. Barclays lifted their price target on shares of Duke Energy from $99.00 to $102.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Scotiabank raised their price objective on Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company boosted their target price on Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Duke Energy has an average rating of “Hold” and an average target price of $110.85.

Duke Energy Trading Up 0.2 %

Shares of Duke Energy stock traded up $0.24 during mid-day trading on Friday, hitting $112.36. 2,732,539 shares of the stock were exchanged, compared to its average volume of 2,961,570. The company has a 50-day simple moving average of $106.68 and a 200 day simple moving average of $100.62. The company has a current ratio of 0.78, a quick ratio of 0.50 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $86.72 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 3.09 and a beta of 0.45. Duke Energy Co. has a twelve month low of $83.06 and a twelve month high of $116.67.

Duke Energy (NYSE:DUK) last released its earnings results on Tuesday, August 6th. The utilities provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.02 by $0.16. Duke Energy had a net margin of 10.78% and a return on equity of 9.25%. The firm had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $6.84 billion. During the same period in the previous year, the company earned $0.91 EPS. Duke Energy’s revenue for the quarter was up 9.0% on a year-over-year basis. Research analysts forecast that Duke Energy Co. will post 5.97 EPS for the current year.

Duke Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be paid a dividend of $1.045 per share. The ex-dividend date is Friday, August 16th. This is a boost from Duke Energy’s previous quarterly dividend of $1.03. This represents a $4.18 annualized dividend and a dividend yield of 3.72%. Duke Energy’s payout ratio is currently 105.03%.

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.