Sheets Smith Wealth Management Sells 2,354 Shares of Duke Energy Co. (NYSE:DUK)

Sheets Smith Wealth Management trimmed its position in shares of Duke Energy Co. (NYSE:DUK) by 7.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,485 shares of the utilities provider’s stock after selling 2,354 shares during the quarter. Sheets Smith Wealth Management’s holdings in Duke Energy were worth $3,169,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC raised its holdings in Duke Energy by 9.4% in the first quarter. Janus Henderson Group PLC now owns 108,819 shares of the utilities provider’s stock worth $10,520,000 after purchasing an additional 9,334 shares in the last quarter. Goodman Advisory Group LLC bought a new position in shares of Duke Energy in the 2nd quarter worth about $2,888,000. Jupiter Asset Management Ltd. purchased a new position in Duke Energy during the 1st quarter valued at about $1,396,000. Atomi Financial Group Inc. boosted its stake in Duke Energy by 85.8% during the first quarter. Atomi Financial Group Inc. now owns 11,374 shares of the utilities provider’s stock worth $1,100,000 after acquiring an additional 5,253 shares in the last quarter. Finally, PrairieView Partners LLC bought a new position in shares of Duke Energy during the second quarter valued at approximately $501,000. Institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Up 1.9 %

Shares of Duke Energy stock opened at $113.23 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. Duke Energy Co. has a twelve month low of $86.61 and a twelve month high of $121.25. The company has a market cap of $87.44 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 3.10 and a beta of 0.47. The company’s 50 day moving average is $115.84 and its 200 day moving average is $108.73.

Duke Energy (NYSE:DUK) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11). The firm had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $1.94 earnings per share. Research analysts anticipate that Duke Energy Co. will post 5.98 EPS for the current year.

Duke Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $1.045 dividend. This represents a $4.18 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Friday, November 15th. Duke Energy’s dividend payout ratio (DPR) is presently 76.98%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price target on Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group boosted their target price on Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Scotiabank raised their price target on Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. BMO Capital Markets upped their price target on shares of Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. Finally, Barclays raised their price objective on shares of Duke Energy from $102.00 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Duke Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.85.

Duke Energy 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.