Global Retirement Partners LLC Acquires 646 Shares of Duke Energy Co. (NYSE:DUK)

Global Retirement Partners LLC lifted its holdings in shares of Duke Energy Co. (NYSE:DUK) by 2.1% in the third quarter, Holdings Channel.com reports. The fund owned 31,920 shares of the utilities provider’s stock after purchasing an additional 646 shares during the quarter. Global Retirement Partners LLC’s holdings in Duke Energy were worth $3,680,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DUK. Northwest Investment Counselors LLC bought a new position in Duke Energy during the 1st quarter valued at about $25,000. Fortitude Family Office LLC lifted its holdings 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. Riverview Trust Co bought a new position in Duke Energy during the 1st quarter valued at about $30,000. Olistico Wealth LLC bought a new position in Duke Energy during the 2nd quarter valued at about $30,000. Finally, Cedar Wealth Management LLC lifted its holdings in Duke Energy by 101.2% during the 1st quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 169 shares during the last quarter. 65.31% of the stock is owned by institutional investors.

Duke Energy Stock Up 0.7 %

Shares of NYSE:DUK opened at $120.58 on Friday. Duke Energy Co. has a one year low of $85.79 and a one year high of $120.81. The company has a 50 day moving average of $114.84 and a 200-day moving average of $106.50. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.81 and a quick ratio of 0.53. The stock has a market cap of $93.06 billion, a price-to-earnings ratio of 30.30, a P/E/G ratio of 3.06 and a beta of 0.46.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.02 by $0.16. The company had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $6.84 billion. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. Duke Energy’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 EPS. On average, sell-side analysts forecast that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s dividend payout ratio is currently 105.03%.

Insider Activity at Duke Energy

In related news, EVP Louis E. Renjel sold 540 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $113.64, for a total transaction of $61,365.60. Following the completion of the transaction, the executive vice president now 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Evercore ISI lifted their price target on shares of Duke Energy from $108.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Mizuho upgraded shares of Duke Energy from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $116.00 to $121.00 in a research report on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $135.00 price objective on shares of Duke Energy in a research report on Thursday, August 29th. Morgan Stanley raised their price objective on shares of Duke Energy from $114.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Finally, KeyCorp raised their price objective on shares of Duke Energy from $121.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.