Pine Harbor Wealth Management LLC Increases Holdings in Duke Energy Co. (NYSE:DUK)

Pine Harbor Wealth Management LLC raised its stake in Duke Energy Co. (NYSE:DUK) by 6.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,449 shares of the utilities provider’s stock after purchasing an additional 200 shares during the quarter. Pine Harbor Wealth Management LLC’s holdings in Duke Energy were worth $346,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pinnacle West Asset Management Inc. lifted its position in 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 worth $444,000 after acquiring an additional 90 shares in the last quarter. Sachetta LLC raised its stake in shares of 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 purchasing an additional 96 shares during the period. SeaCrest Wealth Management LLC lifted its position in shares of 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 purchasing an additional 98 shares in the last quarter. Waddell & Associates LLC boosted its stake in shares of Duke Energy by 2.7% in the second quarter. Waddell & Associates LLC now owns 3,753 shares of the utilities provider’s stock valued at $376,000 after purchasing an additional 99 shares during the period. Finally, Indiana Trust & Investment Management CO grew its holdings in 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 purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Trading Up 1.2 %

NYSE DUK opened at $117.31 on Friday. The firm has a market capitalization of $90.54 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 3.19 and a beta of 0.47. Duke Energy Co. has a one year low of $83.06 and a one year high of $118.18. The company has a 50-day simple moving average of $111.20 and a 200-day simple moving average of $103.04. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.53 and a current ratio of 0.81.

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

Duke Energy Increases Dividend

The company 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. This is an increase from Duke Energy’s previous quarterly dividend of $1.03. The ex-dividend date is Friday, August 16th. This represents a $4.18 annualized dividend and a dividend yield of 3.56%. Duke Energy’s payout ratio is 105.03%.

Analysts Set New Price Targets

DUK has been the subject of a number of analyst reports. Evercore ISI upped their price objective on shares of Duke Energy from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $135.00 price target on shares of Duke Energy in a report on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on Duke Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. BMO Capital Markets increased their target price on Duke Energy from $114.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Barclays upped their price target on shares of Duke Energy from $99.00 to $102.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Duke Energy presently has an average rating of “Hold” and a consensus price target of $113.92.

Insider Transactions at Duke Energy

In other Duke Energy news, EVP Louis E. Renjel sold 540 shares of the business’s stock in a transaction dated 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 directly owns 19,884 shares of the company’s stock, valued at approximately $2,259,617.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.10% of the company’s stock.

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.