FSA Wealth Management LLC Purchases New Stake in Duke Energy Co. (NYSE:DUK)

FSA Wealth Management LLC acquired a new position in shares of Duke Energy Co. (NYSE:DUK) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 437 shares of the utilities provider’s stock, valued at approximately $50,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pathway Financial Advisers LLC boosted its holdings in shares of Duke Energy by 11,471.4% during the third quarter. Pathway Financial Advisers LLC now owns 6,777,973 shares of the utilities provider’s stock worth $781,500,000 after acquiring an additional 6,719,398 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Duke Energy by 1.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,471,035 shares of the utilities provider’s stock valued at $247,672,000 after purchasing an additional 40,243 shares in the last quarter. Swiss National Bank raised its stake in Duke Energy by 0.3% during the third quarter. Swiss National Bank now owns 2,290,641 shares of the utilities provider’s stock worth $264,111,000 after acquiring an additional 6,500 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Duke Energy by 65.7% in the 2nd quarter. Mackenzie Financial Corp now owns 2,052,969 shares of the utilities provider’s stock valued at $205,769,000 after purchasing an additional 813,744 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Duke Energy by 15.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,816,758 shares of the utilities provider’s stock worth $182,101,000 after buying an additional 240,136 shares during the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DUK. The Goldman Sachs Group boosted their price objective on Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Bank of America boosted their price target on Duke Energy from $116.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. 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 report on Tuesday, October 1st. Jefferies Financial Group started coverage on shares of Duke Energy in a report on Thursday, September 19th. They set a “buy” rating and a $138.00 target price on the stock. Finally, Wells Fargo & Company raised their price target on shares of Duke Energy from $110.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Duke Energy presently has a consensus rating of “Moderate Buy” and an average target price of $121.69.

Duke Energy Stock Performance

Shares of Duke Energy stock opened at $117.05 on Monday. The company has a market cap of $90.42 billion, a P/E ratio of 21.52, a PEG ratio of 3.09 and a beta of 0.47. The company has a current ratio of 0.70, a quick ratio of 0.45 and a debt-to-equity ratio of 1.55. The business has a 50-day moving average price of $115.18 and a two-hundred day moving average price of $110.29. Duke Energy Co. has a 1-year low of $90.09 and a 1-year high of $121.25.

Duke Energy (NYSE:DUK) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11). Duke Energy had a return on equity of 9.34% and a net margin of 14.31%. The business had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter in the previous year, the firm posted $1.94 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, analysts anticipate that Duke Energy Co. will post 5.96 EPS for the current year.

Duke Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s payout ratio is 76.84%.

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.