Cedrus LLC Has $360,000 Stake in Duke Energy Co. (NYSE:DUK)

Cedrus LLC lowered its stake in shares of Duke Energy Co. (NYSE:DUK) by 28.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,122 shares of the utilities provider’s stock after selling 1,240 shares during the period. Cedrus LLC’s holdings in Duke Energy were worth $360,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake 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 worth $6,835,047,000 after buying an additional 324,289 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Duke Energy by 3.2% in 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 last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Duke Energy by 1.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,471,035 shares of the utilities provider’s stock worth $247,672,000 after buying an additional 40,243 shares during the last quarter. Mackenzie Financial Corp boosted 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 worth $205,769,000 after buying an additional 813,744 shares during the last quarter. Finally, Capital Wealth Planning LLC boosted its stake in shares of Duke Energy by 1.6% in the 1st quarter. Capital Wealth Planning LLC now owns 1,973,369 shares of the utilities provider’s stock worth $190,845,000 after buying an additional 31,309 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Up 0.1 %

DUK opened at $120.76 on Friday. The company has a fifty day moving average price of $115.00 and a 200-day moving average price of $106.74. The firm has a market capitalization of $93.20 billion, a P/E ratio of 30.34, a price-to-earnings-growth ratio of 3.06 and a beta of 0.46. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.81 and a quick ratio of 0.53. Duke Energy Co. has a one year low of $85.79 and a one year high of $120.85.

Duke Energy (NYSE:DUK) last released its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 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 for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 EPS. Equities research analysts expect that Duke Energy Co. will post 5.97 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a $1.045 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.18 annualized dividend and a yield of 3.46%. Duke Energy’s dividend payout ratio (DPR) is presently 105.03%.

Insider Buying and Selling

In related news, EVP Louis E. Renjel sold 540 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $113.64, for a total value of $61,365.60. Following the completion of the transaction, the executive vice president now directly owns 19,884 shares in the company, valued at approximately $2,259,617.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Evercore ISI lifted their price target on shares of Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. The Goldman Sachs Group lifted their price target on shares of Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Scotiabank lifted their price target on shares of Duke Energy from $104.00 to $113.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $135.00 price target on shares of Duke Energy in a report on Thursday, August 29th. Finally, Wells Fargo & Company lifted their price target on shares of Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Duke Energy has an average rating of “Moderate Buy” and an average price target 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.