Vantage Financial Partners LLC Cuts Holdings in Duke Energy Co. (NYSE:DUK)

Vantage Financial Partners LLC lessened its stake in Duke Energy Co. (NYSE:DUK) by 10.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,302 shares of the utilities provider’s stock after selling 261 shares during the period. Vantage Financial Partners LLC’s holdings in Duke Energy were worth $231,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DUK. Northwest Investment Counselors LLC purchased a new stake in shares of Duke Energy in the 1st quarter worth about $25,000. Private Wealth Management Group LLC bought a new stake in Duke Energy during the 4th quarter worth approximately $26,000. Fortitude Family Office LLC raised its position in shares of Duke Energy by 69.6% during the second quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock valued at $29,000 after buying an additional 119 shares during the last quarter. Riverview Trust Co bought a new stake in shares of Duke Energy during the first quarter valued at approximately $30,000. Finally, Olistico Wealth LLC purchased a new position in shares of Duke Energy in the second quarter valued at $30,000. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Price Performance

Duke Energy stock opened at $117.41 on Tuesday. The firm’s 50-day moving average is $109.87 and its two-hundred day moving average is $102.41. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.81 and a quick ratio of 0.53. Duke Energy Co. has a 12-month low of $83.06 and a 12-month high of $118.11. The stock has a market capitalization of $90.61 billion, a P/E ratio of 29.44, a P/E/G ratio of 3.20 and a beta of 0.46.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. The company 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 quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 earnings per share. Equities analysts predict that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be issued a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Friday, August 16th. This is an increase from Duke Energy’s previous quarterly dividend of $1.03. Duke Energy’s payout ratio is currently 105.03%.

Insider Activity

In related news, EVP Louis E. Renjel sold 540 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were 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 of the company’s stock, valued at $2,259,617.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on DUK. BMO Capital Markets lifted their price objective on shares of Duke Energy from $114.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of Duke Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Wells Fargo & Company boosted their target price on shares of Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $135.00 price target on shares of Duke Energy in a research note on Thursday, August 29th. Finally, Morgan Stanley boosted their price target on Duke Energy from $99.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.