Park Avenue Securities LLC Sells 1,474 Shares of Duke Energy Co. (NYSE:DUK)

Park Avenue Securities LLC cut its stake in Duke Energy Co. (NYSE:DUK) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,543 shares of the utilities provider’s stock after selling 1,474 shares during the period. Park Avenue Securities LLC’s holdings in Duke Energy were worth $4,765,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of DUK. Northwest Investment Counselors LLC acquired a new stake in shares of Duke Energy during the 1st quarter worth approximately $25,000. Altshuler Shaham Ltd acquired a new stake in shares of Duke Energy during the 4th quarter worth approximately $26,000. Private Wealth Management Group LLC acquired a new stake in shares of Duke Energy during the 4th quarter worth approximately $26,000. Olistico Wealth LLC acquired a new stake in shares of Duke Energy during the 2nd quarter worth approximately $30,000. Finally, Riverview Trust Co acquired a new stake in shares of Duke Energy during the 1st quarter worth approximately $30,000. 65.31% of the stock is owned by institutional investors.

Duke Energy Stock Performance

Shares of NYSE:DUK traded up $0.59 on Wednesday, hitting $113.51. The company had a trading volume of 4,771,890 shares, compared to its average volume of 2,961,591. Duke Energy Co. has a 1-year low of $83.06 and a 1-year high of $116.67. The stock has a market cap of $87.60 billion, a price-to-earnings ratio of 28.39, a P/E/G ratio of 3.09 and a beta of 0.45. The stock has a 50 day moving average price of $103.98 and a 200 day moving average price of $99.09. The company has a current ratio of 0.78, a quick ratio of 0.50 and a debt-to-equity ratio of 1.54.

Duke Energy (NYSE:DUK) last released its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.02 by $0.16. Duke Energy had a net margin of 10.78% and a return on equity of 9.25%. The firm had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $6.84 billion. During the same period in the previous year, the company earned $0.91 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. Analysts expect 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. Investors of record on Friday, August 16th will be paid a $1.045 dividend. The ex-dividend date of this dividend is Friday, August 16th. This is an increase from Duke Energy’s previous quarterly dividend of $1.03. This represents a $4.18 annualized dividend and a dividend yield of 3.68%. Duke Energy’s dividend payout ratio is 105.03%.

Insider Activity at Duke Energy

In related news, CEO Lynn J. Good sold 15,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $103.30, for a total value of $1,549,500.00. Following the transaction, the chief executive officer now directly owns 437,464 shares in the company, valued at $45,190,031.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Duke Energy news, EVP Julia S. Janson sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $102.79, for a total transaction of $1,027,900.00. Following the completion of the transaction, the executive vice president now owns 68,657 shares in the company, valued at approximately $7,057,253.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Lynn J. Good sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $103.30, for a total transaction of $1,549,500.00. Following the transaction, the chief executive officer now owns 437,464 shares of the company’s stock, valued at approximately $45,190,031.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,695 shares of company stock worth $2,750,815. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of Duke Energy from $103.00 to $98.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. KeyCorp boosted their price objective on shares of Duke Energy from $112.00 to $114.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Barclays boosted their price objective 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. Evercore ISI boosted their price objective on shares of Duke Energy from $108.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Wells Fargo & Company boosted their price objective on shares of Duke Energy from $110.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday. Six 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.75.

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.