Duke Energy Co. (NYSE:DUK) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC cut its stake in Duke Energy Co. (NYSE:DUK - Free Report) by 3.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 332,600 shares of the utilities provider's stock after selling 12,900 shares during the quarter. Gabelli Funds LLC's holdings in Duke Energy were worth $33,336,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new position in Duke Energy during the first quarter worth about $25,000. Fortitude Family Office LLC boosted its position in shares of Duke Energy by 69.6% during the 2nd quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider's stock worth $29,000 after purchasing an additional 119 shares during the period. Olistico Wealth LLC acquired a new stake in Duke Energy in the 2nd quarter valued at approximately $30,000. Riverview Trust Co purchased a new stake in Duke Energy in the first quarter valued at approximately $30,000. Finally, Sachetta LLC raised its position in Duke Energy by 41.9% in the second quarter. Sachetta LLC now owns 325 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 96 shares during the period. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Duke Energy news, EVP Louis E. Renjel sold 540 shares of the company's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $113.64, for a total value of $61,365.60. Following the transaction, the executive vice president now directly owns 19,884 shares of the company's stock, valued at approximately $2,259,617.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.10% of the stock is owned by company insiders.

Duke Energy Price Performance

Shares of DUK traded up $1.23 during trading hours on Friday, reaching $116.37. 6,277,016 shares of the company traded hands, compared to its average volume of 2,960,399. Duke Energy Co. has a fifty-two week low of $83.06 and a fifty-two week high of $118.31. The stock has a market capitalization of $89.81 billion, a PE ratio of 29.24, a price-to-earnings-growth ratio of 3.19 and a beta of 0.47. The stock has a fifty day simple moving average of $112.55 and a 200 day simple moving average of $103.97. 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 (NYSE:DUK - Get Free Report) last released its earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.16. The business had revenue of $7.17 billion for the quarter, compared to analysts' expectations of $6.84 billion. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. The company's quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the company earned $0.91 earnings per share. As a group, research analysts predict that Duke Energy Co. will post 5.97 EPS for the current fiscal year.

Duke Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were given a $1.045 dividend. The ex-dividend date was Friday, August 16th. This is a positive change from Duke Energy's previous quarterly dividend of $1.03. This represents a $4.18 annualized dividend and a yield of 3.59%. Duke Energy's dividend payout ratio (DPR) is 105.03%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. BMO Capital Markets lifted 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. JPMorgan Chase & Co. raised their price target on Duke Energy from $111.00 to $120.00 and gave the stock a "neutral" rating in a research note on Monday, August 12th. Scotiabank boosted their price objective on Duke Energy from $104.00 to $113.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 20th. Evercore ISI raised their target price on shares of Duke Energy from $108.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group upped their price target on shares of Duke Energy from $102.00 to $113.00 and gave the company a "neutral" rating in a research report on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $116.36.

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.