DAVENPORT & Co LLC Purchases 6,971 Shares of Duke Energy Co. (NYSE:DUK)

DAVENPORT & Co LLC grew its position in shares of Duke Energy Co. (NYSE:DUK) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 224,709 shares of the utilities provider’s stock after purchasing an additional 6,971 shares during the period. DAVENPORT & Co LLC’s holdings in Duke Energy were worth $21,730,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its holdings in Duke Energy by 3.3% during the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,390 shares of the utilities provider’s stock valued at $328,000 after purchasing an additional 109 shares during the period. Breakwater Capital Group increased its holdings in Duke Energy by 3.9% during the 1st quarter. Breakwater Capital Group now owns 2,912 shares of the utilities provider’s stock valued at $282,000 after purchasing an additional 109 shares during the period. First Command Advisory Services Inc. increased its holdings in Duke Energy by 1.4% during the 4th quarter. First Command Advisory Services Inc. now owns 7,949 shares of the utilities provider’s stock valued at $771,000 after purchasing an additional 110 shares during the period. Chemung Canal Trust Co. increased its holdings in Duke Energy by 0.8% during the 4th quarter. Chemung Canal Trust Co. now owns 14,483 shares of the utilities provider’s stock valued at $1,405,000 after purchasing an additional 113 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in Duke Energy by 9.0% during the 1st quarter. Venturi Wealth Management LLC now owns 1,380 shares of the utilities provider’s stock valued at $133,000 after purchasing an additional 114 shares during the period. Institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Up 1.6 %

Shares of Duke Energy stock traded up $1.63 during midday trading on Thursday, hitting $104.46. The company had a trading volume of 3,322,341 shares, compared to its average volume of 2,917,800. The stock has a market capitalization of $80.62 billion, a P/E ratio of 26.31, a P/E/G ratio of 2.76 and a beta of 0.45. Duke Energy Co. has a 52-week low of $83.06 and a 52-week high of $104.89. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.50 and a current ratio of 0.78. The company has a 50 day moving average of $101.67 and a 200 day moving average of $97.64.

Duke Energy (NYSE:DUK) last released its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.05. The business had revenue of $7.67 billion for the quarter, compared to analysts’ expectations of $7.31 billion. Duke Energy had a return on equity of 9.25% and a net margin of 10.78%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 EPS. On average, equities analysts predict that Duke Energy Co. will post 5.97 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 17th were given a $1.025 dividend. The ex-dividend date was Thursday, May 16th. This represents a $4.10 annualized dividend and a yield of 3.92%. Duke Energy’s dividend payout ratio (DPR) is presently 103.02%.

Insider Activity at Duke Energy

In other news, EVP Julia S. Janson sold 10,000 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $102.79, for a total transaction of $1,027,900.00. Following the transaction, the executive vice president now directly owns 68,657 shares of the company’s stock, valued at approximately $7,057,253.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director E Marie Mckee sold 1,695 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $102.31, for a total value of $173,415.45. Following the transaction, the director now directly owns 4 shares of the company’s stock, valued at approximately $409.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Julia S. Janson sold 10,000 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $102.79, for a total value of $1,027,900.00. Following the completion of the sale, the executive vice president now owns 68,657 shares of the company’s stock, valued at approximately $7,057,253.03. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,695 shares of company stock valued at $2,750,815. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DUK has been the topic of a number of research analyst reports. Mizuho upped their target price on Duke Energy from $89.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Morgan Stanley reduced their target price on Duke Energy from $103.00 to $98.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. BMO Capital Markets reduced their target price on Duke Energy from $110.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday. Scotiabank reduced their target price on Duke Energy from $101.00 to $94.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Finally, Bank of America upped their target price on Duke Energy from $96.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $102.42.

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.