Sound Income Strategies LLC Buys 231 Shares of Duke Energy Co. (NYSE:DUK)

Sound Income Strategies LLC grew its stake in shares of Duke Energy Co. (NYSE:DUK – Get Rating) by 32.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 949 shares of the utilities provider’s stock after acquiring an additional 231 shares during the period. Sound Income Strategies LLC’s holdings in Duke Energy were worth $98,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legend Financial Advisors Inc. bought a new position in shares of Duke Energy during the 3rd quarter valued at approximately $25,000. EWG Elevate Inc. bought a new position in Duke Energy in the 4th quarter worth approximately $28,000. Lowe Wealth Advisors LLC boosted its holdings in Duke Energy by 124.8% in the 3rd quarter. Lowe Wealth Advisors LLC now owns 299 shares of the utilities provider’s stock worth $28,000 after buying an additional 166 shares during the period. Clear Perspectives Financial Planning LLC boosted its holdings in Duke Energy by 1,138.5% in the 3rd quarter. Clear Perspectives Financial Planning LLC now owns 322 shares of the utilities provider’s stock worth $30,000 after buying an additional 296 shares during the period. Finally, Ameliora Wealth Management Ltd. bought a new position in Duke Energy in the 3rd quarter worth approximately $30,000. 63.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Mizuho raised their price objective on shares of Duke Energy from $100.00 to $102.00 and gave the stock a “neutral” rating in a report on Friday, December 9th. Wells Fargo & Company cut their price objective on shares of Duke Energy from $111.00 to $103.00 and set an “equal weight” rating for the company in a report on Friday, February 10th. StockNews.com assumed coverage on shares of Duke Energy in a report on Thursday. They issued a “hold” rating for the company. Morgan Stanley cut their price objective on shares of Duke Energy from $108.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, February 22nd. Finally, BMO Capital Markets increased their target price on shares of Duke Energy from $107.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 4th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Duke Energy presently has an average rating of “Hold” and a consensus target price of $106.64.

Insider Activity at Duke Energy

In related news, SVP Louis E. Renjel sold 1,900 shares of the stock in a transaction on Monday, February 13th. The shares were sold at an average price of $99.90, for a total transaction of $189,810.00. Following the transaction, the senior vice president now owns 9,967 shares of the company’s stock, valued at approximately $995,703.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.10% of the stock is owned by insiders.

Duke Energy Price Performance

DUK stock opened at $96.39 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.51 and a current ratio of 0.70. Duke Energy Co. has a 52 week low of $83.76 and a 52 week high of $116.33. The firm’s fifty day moving average is $99.26 and its 200 day moving average is $98.95. The firm has a market cap of $74.23 billion, a P/E ratio of 29.03, a P/E/G ratio of 3.17 and a beta of 0.42.

Duke Energy (NYSE:DUK – Get Rating) last released its earnings results on Thursday, February 9th. The utilities provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.06 by $0.05. Duke Energy had a net margin of 9.11% and a return on equity of 8.45%. The company had revenue of $7.35 billion for the quarter, compared to analyst estimates of $5.27 billion. During the same quarter last year, the firm earned $0.94 EPS. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. Research analysts predict that Duke Energy Co. will post 5.63 earnings per share for the current year.

Duke Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 16th. Investors of record on Friday, February 17th were issued a dividend of $1.005 per share. This represents a $4.02 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Thursday, February 16th. Duke Energy’s dividend payout ratio is currently 121.08%.

Duke Energy Profile

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Duke Energy Corp. engages in the distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure, Gas Utilities & Infrastructure and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations in regulated electric utilities in the Carolinas, Florida and the Midwest.