Intact Investment Management Inc. Acquires 4,930 Shares of Duke Energy Co. (NYSE:DUK)

Intact Investment Management Inc. boosted its holdings in Duke Energy Co. (NYSE:DUK) by 11.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,530 shares of the utilities provider’s stock after purchasing an additional 4,930 shares during the quarter. Intact Investment Management Inc.’s holdings in Duke Energy were worth $5,711,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Fortitude Family Office LLC grew its stake in Duke Energy by 69.6% during the second quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 119 shares in the last quarter. Olistico Wealth LLC purchased a new position in shares of Duke Energy during the second quarter valued at about $30,000. Northwest Investment Counselors LLC bought a new stake in shares of Duke Energy in the third quarter worth about $30,000. Cedar Wealth Management LLC lifted its position in shares of Duke Energy by 101.2% in the first quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider’s stock worth $32,000 after buying an additional 169 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new position in Duke Energy during the first quarter valued at approximately $36,000. 65.31% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Duke Energy

In related news, EVP Louis E. Renjel sold 540 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $113.64, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Duke Energy Price Performance

Shares of DUK stock opened at $112.52 on Tuesday. The stock has a 50 day moving average price of $115.83 and a 200 day moving average price of $108.46. The firm has a market capitalization of $86.89 billion, a P/E ratio of 20.72, a P/E/G ratio of 3.15 and a beta of 0.47. 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 Co. has a 52-week low of $86.61 and a 52-week high of $121.25.

Duke Energy (NYSE:DUK) last issued its earnings results 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. The firm had revenue of $7.17 billion during the quarter, compared to analyst estimates of $6.84 billion. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 earnings per share. As a group, sell-side analysts predict that Duke Energy Co. will post 5.98 earnings per share for the current year.

Duke Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $1.045 dividend. The ex-dividend date is Friday, November 15th. This represents a $4.18 dividend on an annualized basis and a yield of 3.71%. Duke Energy’s dividend payout ratio is currently 76.98%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DUK. The Goldman Sachs Group lifted their price objective on Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. boosted their price target on shares of Duke Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Barclays increased their price objective on shares of Duke Energy from $102.00 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Bank of America boosted their target price on shares of Duke Energy from $116.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Mizuho raised shares of Duke Energy from a “neutral” rating to an “outperform” rating and increased their price target for the company from $116.00 to $121.00 in a report on Tuesday, October 15th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.85.

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.