Great Lakes Advisors LLC Sells 71,792 Shares of Duke Energy Co. (NYSE:DUK)

Great Lakes Advisors LLC lessened its position in shares of Duke Energy Co. (NYSE:DUK) by 6.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,097,471 shares of the utilities provider’s stock after selling 71,792 shares during the quarter. Duke Energy comprises about 1.0% of Great Lakes Advisors LLC’s investment portfolio, making the stock its 24th largest position. Great Lakes Advisors LLC’s holdings in Duke Energy were worth $110,000,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in DUK. Northwest Investment Counselors LLC bought a new position in Duke Energy during the first quarter worth about $25,000. Private Wealth Management Group LLC acquired a new position in Duke Energy during the fourth quarter valued at approximately $26,000. Fortitude Family Office LLC raised its holdings in Duke Energy by 69.6% in the second quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 119 shares during the period. Olistico Wealth LLC bought a new position in shares of Duke Energy during the second quarter worth $30,000. Finally, Riverview Trust Co acquired a new position in shares of Duke Energy in the 1st quarter valued at $30,000. Institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Performance

DUK stock traded down $0.25 during midday trading on Friday, reaching $116.60. 3,482,508 shares of the company were exchanged, compared to its average volume of 2,953,683. The firm has a market capitalization of $89.99 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 3.13 and a beta of 0.47. 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 business has a 50-day moving average price of $109.51 and a two-hundred day moving average price of $102.10. Duke Energy Co. has a one year low of $83.06 and a one year high of $118.11.

Duke Energy (NYSE:DUK) last announced its earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. The firm had revenue of $7.17 billion for 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 was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 EPS. Equities research analysts forecast that Duke Energy Co. will post 5.97 EPS for the current year.

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be issued a dividend of $1.045 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.58%. This is a boost from Duke Energy’s previous quarterly dividend of $1.03. Duke Energy’s payout ratio is 105.03%.

Insider Transactions at Duke Energy

In related news, EVP Louis E. Renjel sold 540 shares of the business’s 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 in the company, valued at approximately $2,259,617.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on DUK. Barclays lifted their target price on Duke Energy from $99.00 to $102.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Morgan Stanley boosted their price objective on Duke Energy from $99.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Royal Bank of Canada restated an “outperform” rating and set a $135.00 target price on shares of Duke Energy in a report on Thursday, August 29th. Wells Fargo & Company increased 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. Finally, Scotiabank boosted 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. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $113.92.

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.