Lake Street Private Wealth LLC Sells 2,032 Shares of Duke Energy Co. (NYSE:DUK)

Lake Street Private Wealth LLC lessened its position in shares of Duke Energy Co. (NYSE:DUK) by 31.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,367 shares of the utilities provider’s stock after selling 2,032 shares during the period. Lake Street Private Wealth LLC’s holdings in Duke Energy were worth $504,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Duke Energy by 3.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 435,157 shares of the utilities provider’s stock worth $42,084,000 after buying an additional 13,406 shares in the last quarter. Duality Advisers LP boosted its position in Duke Energy by 57.8% during the 1st quarter. Duality Advisers LP now owns 27,071 shares of the utilities provider’s stock worth $2,618,000 after acquiring an additional 9,917 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Duke Energy by 63.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 44,710 shares of the utilities provider’s stock worth $4,324,000 after acquiring an additional 17,420 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Duke Energy by 9.4% in the first quarter. Janus Henderson Group PLC now owns 108,819 shares of the utilities provider’s stock valued at $10,520,000 after purchasing an additional 9,334 shares during the last quarter. Finally, Goodman Advisory Group LLC bought a new stake in shares of Duke Energy in the second quarter worth $2,888,000. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Price Performance

NYSE:DUK opened at $120.57 on Thursday. The firm’s fifty day moving average price is $115.40 and its two-hundred day moving average price is $107.25. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.81 and a quick ratio of 0.53. The company has a market cap of $93.05 billion, a P/E ratio of 30.29, a P/E/G ratio of 3.06 and a beta of 0.46. Duke Energy Co. has a one year low of $86.61 and a one year high of $121.25.

Duke Energy (NYSE:DUK) last released its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.16. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. The firm 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 firm earned $0.91 EPS. The business’s revenue was up 9.0% on a year-over-year basis. Equities analysts expect that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s dividend payout ratio is 105.03%.

Analyst Upgrades and Downgrades

DUK has been the subject of a number of analyst reports. BMO Capital Markets raised their target price on shares of Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Evercore ISI lifted their target price on Duke Energy from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Scotiabank increased their price target on Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company raised their price target on Duke Energy from $110.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price objective on Duke Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $121.85.

Insiders Place Their Bets

In other news, EVP Louis E. Renjel sold 540 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $113.64, for a total value of $61,365.60. Following the completion of the sale, the executive vice president now owns 19,884 shares of the company’s stock, valued at approximately $2,259,617.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.10% of the company’s stock.

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.