Symphony Financial Ltd. Co. Sells 841 Shares of Duke Energy Co. (NYSE:DUK)

Symphony Financial Ltd. Co. decreased its holdings in shares of Duke Energy Co. (NYSE:DUK) by 4.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 16,903 shares of the utilities provider’s stock after selling 841 shares during the period. Symphony Financial Ltd. Co.’s holdings in Duke Energy were worth $1,960,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new position in shares of Duke Energy in the first quarter worth about $25,000. Fortitude Family Office LLC lifted its position in Duke Energy by 69.6% in the 2nd quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 119 shares in the last quarter. Riverview Trust Co purchased a new stake in Duke Energy during the 1st quarter valued at $30,000. Olistico Wealth LLC purchased a new stake in shares of Duke Energy in the 2nd quarter worth $30,000. Finally, Cedar Wealth Management LLC increased its stake in Duke Energy by 101.2% in the 1st quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider’s stock worth $32,000 after buying an additional 169 shares in the last quarter. Institutional investors own 65.31% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Louis E. Renjel sold 540 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,259,617.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.10% of the company’s stock.

Duke Energy Price Performance

Duke Energy stock opened at $119.88 on Wednesday. The stock’s 50 day moving average is $115.25 and its 200 day moving average is $107.15. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.81 and a quick ratio of 0.53. The firm has a market cap of $92.52 billion, a P/E ratio of 30.12, a P/E/G ratio of 3.06 and a beta of 0.46. Duke Energy Co. has a one year low of $85.79 and a one year high of $121.25.

Duke Energy (NYSE:DUK) last announced its quarterly 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 return on equity of 9.71% and a net margin of 14.29%. The business had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $6.84 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. Duke Energy’s revenue was up 9.0% compared to the same quarter last year. As a group, research analysts expect that Duke Energy Co. will post 5.97 EPS for the current year.

Duke Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $1.045 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.18 dividend on an annualized basis and a yield of 3.49%. Duke Energy’s dividend payout ratio is currently 105.03%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 target price on shares of Duke Energy in a research note on Thursday, August 29th. Wells Fargo & Company increased their price objective on shares of Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Jefferies Financial Group started coverage on shares of Duke Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $138.00 price objective on the stock. Finally, The Goldman Sachs Group raised their price objective on shares of Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.85.

About Duke Energy

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.