Old North State Wealth Management LLC Has $2.72 Million Position in Duke Energy Co. (NYSE:DUK)

Old North State Wealth Management LLC lowered its position in Duke Energy Co. (NYSE:DUK) by 4.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,564 shares of the utilities provider’s stock after selling 1,227 shares during the quarter. Duke Energy accounts for approximately 1.5% of Old North State Wealth Management LLC’s investment portfolio, making the stock its 26th largest position. Old North State Wealth Management LLC’s holdings in Duke Energy were worth $2,721,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. PBMares Wealth Management LLC increased its stake in shares of Duke Energy by 1.8% in the third quarter. PBMares Wealth Management LLC now owns 4,886 shares of the utilities provider’s stock valued at $563,000 after buying an additional 86 shares during the period. Pinnacle West Asset Management Inc. increased its stake in shares of Duke Energy by 2.1% in the second quarter. Pinnacle West Asset Management Inc. now owns 4,425 shares of the utilities provider’s stock valued at $444,000 after buying an additional 90 shares during the period. Castleview Partners LLC increased its stake in shares of Duke Energy by 4.9% in the third quarter. Castleview Partners LLC now owns 1,944 shares of the utilities provider’s stock valued at $224,000 after buying an additional 90 shares during the period. Kanawha Capital Management LLC increased its position in Duke Energy by 1.4% during the 3rd quarter. Kanawha Capital Management LLC now owns 6,591 shares of the utilities provider’s stock valued at $760,000 after purchasing an additional 92 shares during the period. Finally, Chicago Capital LLC increased its position in Duke Energy by 0.9% during the 3rd quarter. Chicago Capital LLC now owns 10,163 shares of the utilities provider’s stock valued at $1,172,000 after purchasing an additional 93 shares during the period. Institutional investors and hedge funds own 65.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Evercore ISI increased their target price on shares of Duke Energy from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group increased their target price on shares of Duke Energy from $102.00 to $113.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Morgan Stanley increased their target price on shares of Duke Energy from $114.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Jefferies Financial Group started coverage on Duke Energy in a report on Thursday, September 19th. They set a “buy” rating and a $138.00 price target on the stock. Finally, KeyCorp downgraded shares of Duke Energy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 22nd. Six 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 an average price target of $121.85.

Insiders Place Their Bets

In other Duke Energy news, EVP Louis E. Renjel sold 540 shares of Duke Energy stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $113.64, for a total transaction of $61,365.60. Following the transaction, the executive vice president now directly owns 19,884 shares of the company’s stock, valued at $2,259,617.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.10% of the company’s stock.

Duke Energy Stock Performance

NYSE DUK opened at $112.68 on Monday. The company has a fifty day simple moving average of $115.84 and a 200 day simple moving average of $108.35. Duke Energy Co. has a 12-month low of $86.61 and a 12-month high of $121.25. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.56. The company has a market cap of $87.01 billion, a P/E ratio of 20.75, a PEG ratio of 3.15 and a beta of 0.47.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share (EPS) 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 business had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $6.84 billion. During the same quarter last year, the firm posted $0.91 EPS. Duke Energy’s revenue was up 9.0% compared to the same quarter last year. Sell-side analysts predict that Duke Energy Co. will post 5.98 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

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 dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s dividend payout ratio is 76.98%.

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.