Glassy Mountain Advisors Inc. Takes $128,000 Position in Duke Energy Co. (NYSE:DUK)

Posted by Dante Gardener on Mar 18th, 2023

Glassy Mountain Advisors Inc. bought a new stake in shares of Duke Energy Co. (NYSE:DUK – Get Rating) in the fourth quarter, Holdings Channel reports. The fund bought 1,247 shares of the utilities provider’s stock, valued at approximately $128,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legend Financial Advisors Inc. bought a new position in shares of Duke Energy during the 3rd quarter valued at approximately $25,000. Lowe Wealth Advisors LLC grew its position in shares of Duke Energy by 124.8% during the 3rd quarter. Lowe Wealth Advisors LLC now owns 299 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 166 shares during the period. Clear Perspectives Financial Planning LLC grew its position in shares of Duke Energy by 1,138.5% during the 3rd quarter. Clear Perspectives Financial Planning LLC now owns 322 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 296 shares during the period. Ameliora Wealth Management Ltd. bought a new position in shares of Duke Energy during the 3rd quarter valued at approximately $30,000. Finally, Fairfield Bush & CO. bought a new position in shares of Duke Energy during the 1st quarter valued at approximately $40,000. 63.22% of the stock is owned by institutional investors.

Duke Energy Price Performance

NYSE DUK traded down $0.81 on Friday, hitting $96.39. The stock had a trading volume of 5,914,272 shares, compared to its average volume of 2,992,928. Duke Energy Co. has a 52-week low of $83.76 and a 52-week high of $116.33. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.51 and a current ratio of 0.70. The company has a market capitalization of $74.23 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 3.10 and a beta of 0.42. The firm has a 50-day moving average of $99.26 and a 200-day moving average of $99.01.

Duke Energy (NYSE:DUK – Get Rating) last posted its earnings results on Thursday, February 9th. The utilities provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.05. The business had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $5.27 billion. Duke Energy had a net margin of 9.11% and a return on equity of 8.45%. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.94 EPS. Equities analysts expect that Duke Energy Co. will post 5.63 EPS for the current year.

Duke Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 16th. Stockholders of record on Friday, February 17th were given a dividend of $1.005 per share. This represents a $4.02 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, February 16th. Duke Energy’s dividend payout ratio (DPR) is currently 121.08%.

Analyst Ratings Changes

A number of analysts recently commented on DUK shares. Royal Bank of Canada dropped their price target on shares of Duke Energy from $116.00 to $112.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 16th. Seaport Res Ptn upgraded shares of Duke Energy from a “sell” rating to a “neutral” rating in a research note on Friday. BMO Capital Markets upped their price target on shares of Duke Energy from $107.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, January 4th. Morgan Stanley dropped their price target on shares of Duke Energy from $108.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 22nd. Finally, StockNews.com started coverage on shares of Duke Energy in a research note on Thursday. They set a “hold” rating on the stock. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Duke Energy has an average rating of “Hold” and a consensus target price of $106.64.

Insider Activity

In other news, SVP Louis E. Renjel sold 1,900 shares of the firm’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $99.90, for a total transaction of $189,810.00. Following the sale, the senior vice president now owns 9,967 shares in the company, valued at approximately $995,703.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.10% of the company’s stock.

Duke Energy Profile

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