Raleigh Capital Management Inc. Sells 7,995 Shares of Duke Energy Co. (NYSE:DUK)

Raleigh Capital Management Inc. reduced its position in shares of Duke Energy Co. (NYSE:DUK) by 30.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,136 shares of the utilities provider’s stock after selling 7,995 shares during the quarter. Duke Energy comprises 0.8% of Raleigh Capital Management Inc.’s holdings, making the stock its 26th biggest position. Raleigh Capital Management Inc.’s holdings in Duke Energy were worth $2,091,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Mackenzie Financial Corp lifted its stake in shares of Duke Energy by 65.7% in the 2nd quarter. Mackenzie Financial Corp now owns 2,052,969 shares of the utilities provider’s stock valued at $205,769,000 after purchasing an additional 813,744 shares during the period. Wulff Hansen & CO. lifted its stake in Duke Energy by 9,923.0% in the second quarter. Wulff Hansen & CO. now owns 769,265 shares of the utilities provider’s stock valued at $77,103,000 after buying an additional 761,590 shares during the period. BROOKFIELD Corp ON bought a new position in Duke Energy during the first quarter worth about $36,278,000. Capital Research Global Investors grew its position in shares of Duke Energy by 3.2% during the 1st quarter. Capital Research Global Investors now owns 11,493,340 shares of the utilities provider’s stock worth $1,111,521,000 after buying an additional 352,320 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Duke Energy by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 70,675,702 shares of the utilities provider’s stock valued at $6,835,047,000 after acquiring an additional 324,289 shares during the period. Institutional investors own 65.31% of the company’s stock.

Insider Activity at Duke Energy

In other Duke Energy news, EVP Louis E. Renjel sold 540 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $113.64, for a total transaction of $61,365.60. Following the transaction, the executive vice president now owns 19,884 shares of the company’s stock, valued at $2,259,617.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on DUK. Mizuho raised shares of Duke Energy from a “neutral” rating to an “outperform” rating and upped their target price for the company from $116.00 to $121.00 in a research note on Tuesday, October 15th. KeyCorp boosted their target price on Duke Energy from $121.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Wells Fargo & Company raised their price target on Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group boosted their price objective on Duke Energy from $102.00 to $113.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Finally, BMO Capital Markets upped their price target on shares of Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $121.85.

Duke Energy Stock Performance

DUK opened at $119.90 on Tuesday. The business’s 50-day simple moving average is $115.13 and its 200 day simple moving average is $106.98. Duke Energy Co. has a 52-week low of $85.79 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. The firm has a market capitalization of $92.54 billion, a PE ratio of 30.13, a PEG ratio of 3.06 and a beta of 0.46.

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, topping analysts’ consensus estimates of $1.02 by $0.16. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. The company had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $6.84 billion. The business’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 EPS. As a group, sell-side analysts expect that Duke Energy Co. will post 5.97 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. Stockholders of record on Friday, November 15th will be paid a dividend of $1.045 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.18 annualized dividend and a dividend yield of 3.49%. Duke Energy’s dividend payout ratio is presently 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.