Spire Wealth Management Cuts Position in Duke Energy Co. (NYSE:DUK)

Spire Wealth Management lessened its holdings in shares of Duke Energy Co. (NYSE:DUK) by 2.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,704 shares of the utilities provider’s stock after selling 292 shares during the quarter. Spire Wealth Management’s holdings in Duke Energy were worth $927,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Valley Brook Capital Group Inc. purchased a new position in shares of Duke Energy in the 4th quarter valued at $214,000. Channing Capital Management LLC purchased a new stake in shares of Duke Energy in the fourth quarter worth about $1,333,000. National Bank of Canada FI raised its holdings in shares of Duke Energy by 5.9% during the 4th quarter. National Bank of Canada FI now owns 351,469 shares of the utilities provider’s stock valued at $34,505,000 after buying an additional 19,613 shares during the period. FourThought Financial Partners LLC lifted its position in Duke Energy by 0.9% during the 4th quarter. FourThought Financial Partners LLC now owns 20,322 shares of the utilities provider’s stock worth $1,972,000 after acquiring an additional 191 shares in the last quarter. Finally, TCG Advisory Services LLC boosted its holdings in Duke Energy by 49.1% in the 4th quarter. TCG Advisory Services LLC now owns 3,882 shares of the utilities provider’s stock worth $377,000 after acquiring an additional 1,278 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Insider Buying and Selling

In other news, EVP Louis E. Renjel sold 3,000 shares of the company’s 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 transaction, the executive vice president now owns 14,213 shares in the company, valued at $1,315,697.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Duke Energy from $104.00 to $108.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays boosted their price target on Duke Energy from $99.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Mizuho raised their price objective on Duke Energy from $89.00 to $99.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Bank of America upped their target price on Duke Energy from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Finally, Wells Fargo & Company dropped their price target on shares of Duke Energy from $103.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $101.31.

Duke Energy Stock Up 0.1 %

DUK stock opened at $102.39 on Thursday. The firm has a fifty day moving average price of $95.96 and a two-hundred day moving average price of $94.37. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.74 and a quick ratio of 0.49. Duke Energy Co. has a 1-year low of $83.06 and a 1-year high of $102.64. The firm has a market cap of $78.99 billion, a price-to-earnings ratio of 28.84, a PEG ratio of 2.67 and a beta of 0.45.

Duke Energy (NYSE:DUK) last released its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.05. Duke Energy had a net margin of 9.78% and a return on equity of 8.93%. The firm had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.31 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. Duke Energy’s quarterly revenue was up 5.4% on a year-over-year basis. Research analysts predict that Duke Energy Co. will post 5.98 EPS for the current year.

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.