Sollinda Capital Management LLC Has $1.14 Million Position in Duke Energy Co. (NYSE:DUK)

Sollinda Capital Management LLC lowered its stake in Duke Energy Co. (NYSE:DUK) by 5.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,861 shares of the utilities provider’s stock after selling 573 shares during the period. Duke Energy accounts for 0.3% of Sollinda Capital Management LLC’s portfolio, making the stock its 29th largest position. Sollinda Capital Management LLC’s holdings in Duke Energy were worth $1,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Northwest Investment Counselors LLC bought a new stake in Duke Energy in the 3rd quarter valued at $30,000. Fortitude Family Office LLC lifted its position in Duke Energy by 69.6% during the 2nd quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after buying an additional 119 shares in the last quarter. Olistico Wealth LLC acquired a new position in shares of Duke Energy during the 2nd quarter worth about $30,000. Sachetta LLC boosted its stake in shares of Duke Energy by 41.9% during the 2nd quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock worth $36,000 after buying an additional 96 shares during the last quarter. Finally, Reston Wealth Management LLC acquired a new position in shares of Duke Energy during the 3rd quarter worth about $38,000. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Price Performance

Duke Energy stock traded down $2.59 during midday trading on Friday, reaching $112.68. 3,713,148 shares of the stock were exchanged, compared to its average volume of 3,044,565. The company’s fifty day moving average is $115.84 and its 200-day moving average is $108.14. The firm has a market cap of $87.01 billion, a PE ratio of 20.75, a PEG ratio of 3.11 and a beta of 0.46. Duke Energy Co. has a 52 week low of $86.61 and a 52 week high of $121.25. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.53 and a current ratio of 0.81.

Duke Energy (NYSE:DUK) last announced its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. The company had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $6.84 billion. During the same quarter in the prior year, the company earned $0.91 EPS. The firm’s revenue was up 9.0% on a year-over-year basis. On average, sell-side analysts forecast that Duke Energy Co. will post 5.98 EPS for the current year.

Duke Energy Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s dividend payout ratio is currently 76.98%.

Insider Buying and Selling at Duke Energy

In other news, EVP Louis E. Renjel sold 540 shares of Duke Energy stock in a transaction that occurred 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 sale, the executive vice president now owns 19,884 shares in the company, valued at $2,259,617.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $135.00 target price on shares of Duke Energy in a report on Thursday, August 29th. KeyCorp cut shares of Duke Energy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 22nd. Evercore ISI raised their target price on shares of Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. BMO Capital Markets raised their target price on shares of Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Finally, Barclays increased their price target on shares of Duke Energy from $102.00 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $121.85.

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.