Spire Wealth Management Sells 2,443 Shares of Duke Energy Co. (NYSE:DUK)

Spire Wealth Management lessened its holdings in shares of Duke Energy Co. (NYSE:DUK) by 26.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,664 shares of the utilities provider’s stock after selling 2,443 shares during the quarter. Spire Wealth Management’s holdings in Duke Energy were worth $668,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DUK. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new stake in Duke Energy during the 4th quarter worth approximately $500,000. Fisher Asset Management LLC increased its position in shares of Duke Energy by 18.4% during the fourth quarter. Fisher Asset Management LLC now owns 10,723 shares of the utilities provider’s stock worth $1,041,000 after acquiring an additional 1,666 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of Duke Energy by 71.9% during the fourth quarter. Axxcess Wealth Management LLC now owns 28,007 shares of the utilities provider’s stock worth $2,718,000 after acquiring an additional 11,715 shares during the period. Sapient Capital LLC bought a new stake in Duke Energy in the 4th quarter valued at $670,000. Finally, AJOVista LLC acquired a new position in Duke Energy in the 4th quarter worth $67,000. 65.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. BMO Capital Markets boosted their price target on Duke Energy from $114.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and issued a $135.00 target price on shares of Duke Energy in a research note on Thursday. The Goldman Sachs Group raised their price target on shares of Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Morgan Stanley boosted their price objective on shares of Duke Energy from $99.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Finally, Evercore ISI raised their target price on shares of Duke Energy from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $113.92.

Insider Transactions at Duke Energy

In related news, EVP Louis E. Renjel sold 540 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $113.64, for a total value of $61,365.60. Following the transaction, the executive vice president now owns 19,884 shares in the company, valued at approximately $2,259,617.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.10% of the stock is currently owned by corporate insiders.

Duke Energy Stock Up 0.8 %

Duke Energy stock opened at $113.95 on Monday. Duke Energy Co. has a fifty-two week low of $83.06 and a fifty-two week high of $116.67. The firm has a market capitalization of $87.99 billion, a PE ratio of 28.63, a P/E/G ratio of 3.13 and a beta of 0.45. The company’s 50-day moving average is $107.96 and its 200-day moving average is $101.39. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.81 and a quick ratio of 0.53.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. The firm had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $6.84 billion. During the same quarter in the previous year, the business earned $0.91 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. Sell-side analysts anticipate that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be issued a $1.045 dividend. 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 3.67%. The ex-dividend date is Friday, August 16th. Duke Energy’s payout ratio is currently 105.03%.

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.