14,818 Duke Energy Corporation $DUK Shares Sold by Precedent Wealth Partners LLC

Precedent Wealth Partners LLC reduced its stake in shares of Duke Energy Corporation (NYSE:DUK) by 69.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,510 shares of the utilities provider’s stock after selling 14,818 shares during the period. Precedent Wealth Partners LLC’s holdings in Duke Energy were worth $742,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Evergreen Advisors LLC purchased a new position in shares of Duke Energy in the 1st quarter valued at about $36,000. IAG Wealth Partners LLC lifted its stake in shares of Duke Energy by 154.6% in the first quarter. IAG Wealth Partners LLC now owns 275 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 167 shares during the period. Dynamic Wealth Strategies LLC purchased a new stake in Duke Energy during the first quarter worth about $38,000. Millstone Evans Group LLC boosted its holdings in Duke Energy by 53.1% during the first quarter. Millstone Evans Group LLC now owns 297 shares of the utilities provider’s stock worth $39,000 after buying an additional 103 shares in the last quarter. Finally, Gill Capital Partners LLC boosted its holdings in Duke Energy by 128.9% during the second quarter. Gill Capital Partners LLC now owns 309 shares of the utilities provider’s stock worth $39,000 after buying an additional 174 shares in the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.

Duke Energy Price Performance

Duke Energy stock opened at $125.40 on Friday. Duke Energy Corporation has a 52 week low of $112.40 and a 52 week high of $134.49. The company has a quick ratio of 0.43, a current ratio of 0.66 and a debt-to-equity ratio of 1.47. The firm’s 50-day simple moving average is $118.84 and its 200 day simple moving average is $123.45. The firm has a market capitalization of $97.78 billion, a PE ratio of 18.83, a P/E/G ratio of 2.81 and a beta of 0.36.

Duke Energy (NYSE:DUK) last posted its earnings results on Monday, August 3rd. The utilities provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.13. The firm had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.66 billion. Duke Energy had a net margin of 15.78% and a return on equity of 9.78%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the firm posted $1.25 EPS. On average, equities research analysts predict that Duke Energy Corporation will post 6.72 EPS for the current fiscal year.

Duke Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Friday, November 13th will be given a $1.0850 dividend. The ex-dividend date is Friday, November 13th. This represents a $4.34 annualized dividend and a dividend yield of 3.5%. Duke Energy’s dividend payout ratio is currently 65.17%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Duke Energy in a report on Friday, July 31st. BMO Capital Markets reduced their price target on shares of Duke Energy from $134.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, August 5th. BTIG Research reissued a “buy” rating on shares of Duke Energy in a research note on Thursday, July 23rd. Morgan Stanley upped their price target on Duke Energy from $127.00 to $128.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Scotiabank dropped their price objective on Duke Energy from $146.00 to $131.00 in a research note on Wednesday, September 30th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.19.

Key Duke Energy News

Here are the key news stories impacting Duke Energy this week:

• Positive Sentiment: Morgan Stanley raised its price target for Duke Energy from $127 to $128 while maintaining an “equal weight” rating. The increase suggests limited but slightly improved upside based on the firm’s updated outlook. Morgan Stanley raises Duke Energy price target
• Positive Sentiment: A Davidson County, North Carolina, planning board recommended approval of a Duke Energy natural-gas project, while related rezoning plans in Lexington moved forward. Progress on the project could support Duke’s generation capacity and long-term reliability, although additional approvals may still be required. Davidson County planning board recommends approval
• Neutral Sentiment: Duke Energy lineworkers received six awards at the International Lineman’s Rodeo. The recognition highlights workforce expertise and grid-maintenance capabilities but is unlikely to materially affect near-term earnings. Duke Energy lineworkers earn six awards
• Neutral Sentiment: Duke Energy has attracted increased attention from Zacks readers. The coverage is informational and does not represent a new earnings, guidance, or valuation catalyst. Zacks Duke Energy investor attention
• Negative Sentiment: HSBC initiated coverage with a “hold” rating and a $123 price target, below the recently cited trading level. The cautious view signals limited near-term upside and could restrain enthusiasm for DUK. HSBC initiates coverage of Duke Energy
• Negative Sentiment: Cincinnati residents pushed back against Duke Energy’s proposed rate increase. Opposition could create regulatory uncertainty or delay recovery of higher operating and infrastructure costs if regulators require changes to the request. Cincinnati residents oppose Duke Energy rate increase

Duke Energy Profile

Duke Energy Corporation is an energy holding company that provides regulated electric and natural gas utility services in the United States. Its electric utilities generate, transmit, distribute and sell electricity to residential, commercial, industrial and other customers. The company’s generation portfolio includes nuclear, natural gas, coal, hydroelectric and renewable energy resources.

Duke Energy serves customers primarily in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky.