Sigma Planning Corp Sells 1,964 Shares of Duke Energy Co. (NYSE:DUK)

Sigma Planning Corp trimmed its stake in Duke Energy Co. (NYSE:DUK) by 3.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 53,523 shares of the utilities provider’s stock after selling 1,964 shares during the quarter. Sigma Planning Corp’s holdings in Duke Energy were worth $6,171,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Fortitude Family Office LLC grew 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 valued at $29,000 after purchasing an additional 119 shares during the last quarter. Olistico Wealth LLC bought a new position in shares of Duke Energy in the second quarter worth approximately $30,000. Northwest Investment Counselors LLC bought a new stake in shares of Duke Energy during the third quarter valued at approximately $30,000. Cedar Wealth Management LLC lifted its position in Duke Energy by 101.2% in the 1st quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 169 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in Duke Energy during the 1st quarter valued at $36,000. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Price Performance

Shares of Duke Energy stock opened at $113.23 on Friday. The stock’s fifty day moving average is $115.84 and its 200 day moving average is $108.73. Duke Energy Co. has a one year low of $86.61 and a one year 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 stock has a market cap of $87.44 billion, a P/E ratio of 20.85, a P/E/G ratio of 3.10 and a beta of 0.47.

Duke Energy (NYSE:DUK) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.11). Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. The firm had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.06 billion. During the same period in the prior year, the company posted $1.94 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Duke Energy Co. will post 5.98 earnings per share for the current year.

Duke Energy Announces Dividend

The company also recently announced 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 dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s dividend payout ratio (DPR) is 76.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DUK. Barclays upped their price target on Duke Energy from $102.00 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. KeyCorp cut shares of Duke Energy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 22nd. Mizuho upgraded shares of Duke Energy from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $116.00 to $121.00 in a research note on Tuesday, October 15th. Scotiabank increased their price objective on shares of Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group started coverage on shares of Duke Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $138.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.85.

About Duke Energy

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.