Cornerstone Wealth Management LLC Has $1.46 Million Holdings in Duke Energy Co. (NYSE:DUK)

Cornerstone Wealth Management LLC lessened its stake in Duke Energy Co. (NYSE:DUK) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,638 shares of the utilities provider’s stock after selling 122 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Duke Energy were worth $1,457,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DUK. Vanguard Group Inc. raised its stake in Duke Energy by 0.5% during the first quarter. Vanguard Group Inc. now owns 70,675,702 shares of the utilities provider’s stock worth $6,835,047,000 after acquiring an additional 324,289 shares in the last quarter. Capital Research Global Investors raised its stake in Duke Energy by 3.2% during the first quarter. Capital Research Global Investors now owns 11,493,340 shares of the utilities provider’s stock worth $1,111,521,000 after acquiring an additional 352,320 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Duke Energy by 1.7% during the second quarter. Envestnet Asset Management Inc. now owns 2,471,035 shares of the utilities provider’s stock worth $247,672,000 after acquiring an additional 40,243 shares in the last quarter. Mackenzie Financial Corp raised its stake in Duke Energy by 65.7% during the second quarter. Mackenzie Financial Corp now owns 2,052,969 shares of the utilities provider’s stock worth $205,769,000 after acquiring an additional 813,744 shares in the last quarter. Finally, Capital Wealth Planning LLC grew its holdings in shares of Duke Energy by 1.6% during the first quarter. Capital Wealth Planning LLC now owns 1,973,369 shares of the utilities provider’s stock worth $190,845,000 after purchasing an additional 31,309 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Price Performance

Duke Energy stock opened at $120.58 on Friday. The stock has a market capitalization of $93.06 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 3.06 and a beta of 0.46. Duke Energy Co. has a 52-week low of $85.79 and a 52-week high of $120.81. The stock’s 50 day moving average price is $114.84 and its two-hundred day moving average price is $106.50. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.53 and a current ratio of 0.81.

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

Duke Energy Announces Dividend

The firm 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 dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s payout ratio is 105.03%.

Insider Transactions at Duke Energy

In other 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 transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

DUK has been the topic of several research reports. KeyCorp boosted their price target on Duke Energy from $121.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Mizuho upgraded Duke Energy from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $116.00 to $121.00 in a report on Tuesday. Barclays boosted their price target on Duke Energy from $102.00 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Royal Bank of Canada restated an “outperform” rating and set a $135.00 price target on shares of Duke Energy in a report on Thursday, August 29th. Finally, Scotiabank boosted their price target on Duke Energy from $104.00 to $113.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.85.

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.