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

Raleigh Capital Management Inc. lowered its position in shares of Duke Energy Co. (NYSE:DUK) by 30.6% during the third quarter, Holdings Channel.com reports. The firm owned 18,136 shares of the utilities provider’s stock after selling 7,995 shares during the quarter. Duke Energy accounts for 0.8% of Raleigh Capital Management Inc.’s portfolio, making the stock its 26th biggest holding. Raleigh Capital Management Inc.’s holdings in Duke Energy were worth $2,091,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in DUK. Northwest Investment Counselors LLC acquired a new stake in shares of Duke Energy during the 1st quarter worth $25,000. AdvisorNet Financial Inc increased its holdings in Duke Energy by 72.6% in the 1st quarter. AdvisorNet Financial Inc now owns 3,699 shares of the utilities provider’s stock valued at $358,000 after buying an additional 1,556 shares during the period. Global Assets Advisory LLC acquired a new position in shares of Duke Energy in the 1st quarter valued at approximately $4,683,000. Capital Advisors Wealth Management LLC bought a new stake in shares of Duke Energy during the 1st quarter worth approximately $275,000. Finally, Charles Schwab Trust Co bought a new position in Duke Energy in the first quarter valued at approximately $216,000. 65.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. BMO Capital Markets upped their target price on Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. Bank of America lifted their target price on Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Morgan Stanley upped their price target on Duke Energy from $114.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Barclays raised their price objective on Duke Energy from $102.00 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Finally, Mizuho upgraded 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 report on Tuesday, October 15th. 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, Duke Energy presently has an average rating of “Moderate Buy” and a consensus price target of $121.85.

Duke Energy Price Performance

Shares of DUK opened at $119.90 on Tuesday. The firm has a market cap of $92.54 billion, a PE ratio of 30.13, a price-to-earnings-growth ratio of 3.06 and a beta of 0.46. 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 business’s 50 day moving average price is $115.13 and its two-hundred day moving average price is $106.98.

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, topping 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 for the quarter, compared to analyst estimates of $6.84 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. Duke Energy’s revenue was up 9.0% on a year-over-year basis. On average, equities analysts anticipate that Duke Energy Co. will post 5.97 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. Investors of record on Friday, November 15th will be paid a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s dividend payout ratio (DPR) is currently 105.03%.

Insiders Place Their Bets

In other news, EVP Louis E. Renjel sold 540 shares of the company’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 directly 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 this link. Corporate insiders own 0.10% of the company’s stock.

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.