Bcwm LLC Sells 21,315 Shares of Duke Energy Co. (NYSE:DUK)

Bcwm LLC lessened its position in Duke Energy Co. (NYSE:DUK) by 18.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 96,562 shares of the utilities provider’s stock after selling 21,315 shares during the period. Duke Energy comprises approximately 3.5% of Bcwm LLC’s holdings, making the stock its 5th biggest holding. Bcwm LLC’s holdings in Duke Energy were worth $9,678,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in Duke Energy in the first quarter worth $25,000. Fortitude Family Office LLC lifted its position in 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 buying an additional 119 shares in the last quarter. Riverview Trust Co bought a new stake in Duke Energy during the 1st quarter worth about $30,000. Olistico Wealth LLC acquired a new stake in Duke Energy in the 2nd quarter valued at about $30,000. Finally, Cedar Wealth Management LLC raised its stake in shares of Duke Energy by 101.2% in the first quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 169 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Stock Up 1.2 %

NYSE:DUK opened at $117.31 on Monday. Duke Energy Co. has a twelve month low of $83.06 and a twelve month high of $118.18. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. The stock’s 50 day moving average price is $111.20 and its two-hundred day moving average price is $103.12. The firm has a market capitalization of $90.54 billion, a price-to-earnings ratio of 29.47, a price-to-earnings-growth ratio of 3.19 and a beta of 0.47.

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

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 16th will be paid a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Friday, August 16th. This is a boost from Duke Energy’s previous quarterly dividend of $1.03. Duke Energy’s dividend payout ratio is 105.03%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Duke Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Scotiabank boosted their target price on Duke Energy from $104.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Bank of America boosted their price objective on Duke Energy from $116.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Wells Fargo & Company boosted their price target on shares of Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley upped their target price on shares of Duke Energy from $99.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $113.92.

Insider Buying and Selling at Duke Energy

In other news, EVP Louis E. Renjel sold 540 shares of the 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 directly owns 19,884 shares of the company’s stock, valued at $2,259,617.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.10% of the company’s stock.

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.