Parcion Private Wealth LLC Increases Holdings in Duke Energy Co. (NYSE:DUK)

Parcion Private Wealth LLC lifted its position in Duke Energy Co. (NYSE:DUK) by 4.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,752 shares of the utilities provider’s stock after purchasing an additional 584 shares during the period. Parcion Private Wealth LLC’s holdings in Duke Energy were worth $1,479,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in Duke Energy in the first quarter worth approximately $25,000. Private Wealth Management Group LLC acquired a new position in shares of Duke Energy during the fourth quarter worth $26,000. Fortitude Family Office LLC increased its position in shares of Duke Energy by 69.6% during the second quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 119 shares in the last quarter. Olistico Wealth LLC acquired a new position in shares of Duke Energy during the second quarter worth $30,000. Finally, Riverview Trust Co acquired a new position in shares of Duke Energy during the first quarter worth $30,000. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Price Performance

Shares of DUK stock traded down $0.25 during mid-day trading on Friday, hitting $116.60. 3,482,508 shares of the stock were exchanged, compared to its average volume of 2,953,683. The firm has a fifty day moving average of $109.51 and a 200 day moving average of $102.10. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. Duke Energy Co. has a 52-week low of $83.06 and a 52-week high of $118.11. The company has a market cap of $89.99 billion, a PE ratio of 29.30, a price-to-earnings-growth ratio of 3.13 and a beta of 0.47.

Duke Energy (NYSE:DUK) last posted its earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share (EPS) 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 business had revenue of $7.17 billion for the quarter, compared to analyst estimates of $6.84 billion. During the same period in the prior year, the company posted $0.91 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Research 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 declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 16th will be given a dividend of $1.045 per share. This represents a $4.18 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Friday, August 16th. This is an increase from Duke Energy’s previous quarterly dividend of $1.03. Duke Energy’s dividend payout ratio is 105.03%.

Analyst Ratings Changes

DUK has been the topic of a number of recent analyst reports. Evercore ISI upped their price target on Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. BMO Capital Markets upped their price target on Duke Energy from $114.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group upped their price target on Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. KeyCorp upped their target price on Duke Energy from $114.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company upped their target price on Duke Energy from $110.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $113.92.

Insider Buying and Selling

In other Duke Energy 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 completion of the sale, the executive vice president now owns 19,884 shares in the company, valued at approximately $2,259,617.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.10% of the company’s stock.

Duke Energy 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.