Atticus Wealth Management LLC Lowers Position in Duke Energy Co. (NYSE:DUK)

Atticus Wealth Management LLC cut its stake in Duke Energy Co. (NYSE:DUK) by 10.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 993 shares of the utilities provider’s stock after selling 110 shares during the quarter. Atticus Wealth Management LLC’s holdings in Duke Energy were worth $96,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of DUK. Northwest Investment Counselors LLC purchased a new stake in shares of Duke Energy in the first quarter worth approximately $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Duke Energy during the fourth quarter valued at approximately $26,000. Private Wealth Management Group LLC purchased a new stake in shares of Duke Energy during the fourth quarter valued at approximately $26,000. Riverview Trust Co purchased a new stake in shares of Duke Energy during the first quarter valued at approximately $30,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Duke Energy during the fourth quarter valued at approximately $31,000. 65.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Duke Energy

In related news, CEO Lynn J. Good sold 15,000 shares of Duke Energy stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $103.30, for a total transaction of $1,549,500.00. Following the completion of the sale, the chief executive officer now owns 437,464 shares of the company’s stock, valued at $45,190,031.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Duke Energy news, EVP Julia S. Janson sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $102.79, for a total transaction of $1,027,900.00. Following the sale, the executive vice president now owns 68,657 shares in the company, valued at $7,057,253.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lynn J. Good sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $103.30, for a total value of $1,549,500.00. Following the sale, the chief executive officer now owns 437,464 shares in the company, valued at approximately $45,190,031.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,695 shares of company stock valued at $2,750,815. Company insiders own 0.10% of the company’s stock.

Duke Energy Stock Performance

Shares of Duke Energy stock traded down $0.36 during trading hours on Friday, reaching $100.23. The company had a trading volume of 3,898,744 shares, compared to its average volume of 2,576,126. Duke Energy Co. has a one year low of $83.06 and a one year high of $104.87. The business has a fifty day simple moving average of $101.37 and a 200 day simple moving average of $97.45. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.78 and a quick ratio of 0.50. The firm has a market cap of $77.35 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 2.75 and a beta of 0.45.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.05. Duke Energy had a return on equity of 9.25% and a net margin of 10.78%. The firm had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.31 billion. During the same period last year, the company earned $1.20 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts anticipate that Duke Energy Co. will post 5.97 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 17th were paid a dividend of $1.025 per share. This represents a $4.10 annualized dividend and a yield of 4.09%. The ex-dividend date was Thursday, May 16th. Duke Energy’s dividend payout ratio is 103.02%.

Wall Street Analyst Weigh In

A number of analysts recently commented on DUK shares. Mizuho increased their price target on Duke Energy from $89.00 to $99.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Bank of America increased their price target on Duke Energy from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Barclays increased their price target on Duke Energy from $99.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Scotiabank reduced their price objective on Duke Energy from $101.00 to $94.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Finally, Morgan Stanley reduced their price objective on Duke Energy from $103.00 to $98.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.33.

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.