Duke Energy Co. (NYSE:DUK) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. reduced its position in Duke Energy Co. (NYSE:DUK) by 2.4% in the 3rd quarter, Holdings Channel reports. The firm owned 77,270 shares of the utilities provider’s stock after selling 1,880 shares during the period. Meyer Handelman Co.’s holdings in Duke Energy were worth $8,909,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in shares of Duke Energy in the first quarter valued at approximately $25,000. Fortitude Family Office LLC increased its stake in Duke Energy by 69.6% in the second 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 period. Riverview Trust Co purchased a new stake in shares of Duke Energy in the first quarter valued at about $30,000. Olistico Wealth LLC acquired a new stake in shares of Duke Energy during the second quarter worth about $30,000. Finally, Cedar Wealth Management LLC grew its holdings in shares of Duke Energy by 101.2% during the first quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider’s stock worth $32,000 after buying an additional 169 shares during the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Duke Energy

In related news, EVP Louis E. Renjel sold 540 shares of the stock in a transaction 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 sale, the executive vice president now owns 19,884 shares of the company’s stock, valued at $2,259,617.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DUK. BMO Capital Markets increased their price objective on Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. 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 price objective on the stock. Wells Fargo & Company upped their price objective on shares of Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. KeyCorp lifted their target price on shares of Duke Energy from $121.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Scotiabank increased 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. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.15.

Duke Energy Price Performance

DUK stock opened at $114.18 on Friday. The company has a market cap of $88.17 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 3.06 and a beta of 0.46. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.56. The firm has a 50 day moving average of $114.38 and a 200-day moving average of $105.88. Duke Energy Co. has a 12-month low of $85.79 and a 12-month high of $118.31.

Duke Energy (NYSE:DUK) last posted its earnings results on Tuesday, August 6th. The utilities provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. The company had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $6.84 billion. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. Duke Energy’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. As a group, equities analysts expect that Duke Energy Co. will post 5.97 EPS 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. Shareholders 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 3.66%. The ex-dividend date is Friday, November 15th. Duke Energy’s dividend payout ratio (DPR) is presently 76.98%.

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.