Mcrae Capital Management Inc. Increases Stake in Duke Energy Corp (NYSE:DUK)

Mcrae Capital Management Inc. raised its holdings in shares of Duke Energy Corp (NYSE:DUK) by 8.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,114 shares of the utilities provider’s stock after buying an additional 250 shares during the period. Mcrae Capital Management Inc.’s holdings in Duke Energy were worth $299,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. SeaCrest Wealth Management LLC boosted its position in shares of Duke Energy by 1.3% during the third quarter. SeaCrest Wealth Management LLC now owns 8,210 shares of the utilities provider’s stock worth $787,000 after acquiring an additional 107 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its position in shares of Duke Energy by 2.8% during the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,016 shares of the utilities provider’s stock worth $385,000 after acquiring an additional 111 shares during the last quarter. Coastline Trust Co boosted its position in shares of Duke Energy by 2.9% during the third quarter. Coastline Trust Co now owns 4,017 shares of the utilities provider’s stock worth $385,000 after acquiring an additional 112 shares during the last quarter. SPC Financial Inc. boosted its position in shares of Duke Energy by 2.8% during the third quarter. SPC Financial Inc. now owns 4,384 shares of the utilities provider’s stock worth $420,000 after acquiring an additional 118 shares during the last quarter. Finally, Trust Co. of Toledo NA OH boosted its position in shares of Duke Energy by 0.6% during the second quarter. Trust Co. of Toledo NA OH now owns 20,026 shares of the utilities provider’s stock worth $1,767,000 after acquiring an additional 122 shares during the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Dwight L. Jacobs sold 1,700 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $91.05, for a total value of $154,785.00. Following the sale, the senior vice president now owns 4,891 shares of the company’s stock, valued at $445,325.55. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Douglas F. Esamann sold 4,430 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $92.44, for a total transaction of $409,509.20. Following the completion of the sale, the executive vice president now directly owns 64,722 shares in the company, valued at approximately $5,982,901.68. The disclosure for this sale can be found here. In the last three months, insiders sold 26,581 shares of company stock worth $2,422,653. Insiders own 0.09% of the company’s stock.

A number of brokerages recently weighed in on DUK. ValuEngine lowered shares of Duke Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 28th. SunTrust Banks set a $96.00 target price on shares of Duke Energy and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. Citigroup dropped their target price on shares of Duke Energy from $91.00 to $88.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. JPMorgan Chase & Co. upped their target price on shares of Duke Energy from $91.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Zacks Investment Research lowered shares of Duke Energy from a “hold” rating to a “sell” rating and set a $95.00 price objective for the company. in a research report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $94.22.

DUK stock traded down $0.05 during trading on Tuesday, hitting $95.28. 28,337 shares of the company’s stock traded hands, compared to its average volume of 2,569,219. Duke Energy Corp has a 52 week low of $80.89 and a 52 week high of $97.37. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.47 and a current ratio of 0.71. The business has a fifty day simple moving average of $95.06 and a 200 day simple moving average of $90.36. The stock has a market capitalization of $69.47 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 3.91 and a beta of 0.09.

Duke Energy (NYSE:DUK) last released its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.14. Duke Energy had a net margin of 13.23% and a return on equity of 8.02%. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same quarter last year, the business earned $0.93 earnings per share. Duke Energy’s quarterly revenue was up 4.1% compared to the same quarter last year. Research analysts forecast that Duke Energy Corp will post 4.98 earnings per share for the current fiscal year.

Duke Energy Profile

Duke Energy Corp. engages in distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio.

See Also: Back-End Load

Institutional Ownership by Quarter for Duke Energy (NYSE:DUK)

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