Duke Energy Co. (NYSE:DUK) Shares Sold by KMG Fiduciary Partners LLC

19 Oct 2024, 11:35 by Michael Walen · The Markets Daily

KMG Fiduciary Partners LLC lessened its holdings in Duke Energy Co. (NYSE:DUK – Free Report) by 14.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,392 shares of the utilities provider’s stock after selling 8,311 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Duke Energy were worth $5,695,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DUK. Pinnacle West Asset Management Inc. increased its position in shares of Duke Energy by 2.1% during the 2nd quarter. Pinnacle West Asset Management Inc. now owns 4,425 shares of the utilities provider’s stock valued at $444,000 after purchasing an additional 90 shares during the last quarter. Sachetta LLC grew its position in Duke Energy by 41.9% during the second quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock valued at $36,000 after buying an additional 96 shares during the period. SeaCrest Wealth Management LLC increased its holdings in Duke Energy by 1.6% during the second quarter. SeaCrest Wealth Management LLC now owns 6,093 shares of the utilities provider’s stock worth $611,000 after buying an additional 98 shares during the last quarter. Waddell & Associates LLC raised its position in Duke Energy by 2.7% in the second quarter. Waddell & Associates LLC now owns 3,753 shares of the utilities provider’s stock worth $376,000 after acquiring an additional 99 shares during the period. Finally, Indiana Trust & Investment Management CO grew its position in shares of Duke Energy by 4.9% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 2,147 shares of the utilities provider’s stock valued at $215,000 after acquiring an additional 100 shares during the period. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on DUK. Jefferies Financial Group started coverage on Duke Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $138.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Duke Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Mizuho upgraded shares of Duke Energy from a “neutral” rating to an “outperform” rating and upped their price target for the company from $116.00 to $121.00 in a research report on Tuesday. Scotiabank raised their target price 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $135.00 price target on shares of Duke Energy in a report on Thursday, August 29th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $121.85.

Read Our Latest Stock Report on DUK

Insider Transactions at Duke Energy

In other Duke Energy news, EVP Louis E. Renjel sold 540 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $113.64, for a total value of $61,365.60. Following the completion of the sale, the executive vice president now owns 19,884 shares in the company, valued at $2,259,617.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.10% of the stock is currently owned by company insiders.

Duke Energy Stock Performance

Shares of NYSE DUK opened at $120.76 on Friday. The firm’s 50-day moving average price is $115.00 and its 200-day moving average price is $106.67. Duke Energy Co. has a 52-week low of $85.79 and a 52-week high of $120.85. The company has a market cap of $93.20 billion, a PE ratio of 30.34, a PEG ratio of 3.06 and a beta of 0.46. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.56.

Duke Energy (NYSE:DUK – Get Free Report) last posted its quarterly earnings data 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 company had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $6.84 billion. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. Duke Energy’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 earnings per share. As a group, analysts anticipate that Duke Energy Co. will post 5.97 EPS for the current year.

Duke Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Friday, November 15th. Duke Energy’s payout ratio is 105.03%.

About Duke Energy

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