Precedent Wealth Partners LLC Sells 14,818 Shares of Duke Energy Corporation $DUK

Precedent Wealth Partners LLC trimmed its holdings in Duke Energy Corporation (NYSE:DUK) by 69.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,510 shares of the utilities provider’s stock after selling 14,818 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Duke Energy were worth $742,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. IAG Wealth Partners LLC grew its position in Duke Energy by 154.6% during the 1st quarter. IAG Wealth Partners LLC now owns 275 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 167 shares during the last quarter. Evergreen Advisors LLC acquired a new position in Duke Energy in the first quarter valued at $36,000. Dynamic Wealth Strategies LLC purchased a new stake in shares of Duke Energy in the first quarter valued at about $38,000. Millstone Evans Group LLC raised its holdings in shares of Duke Energy by 53.1% in the first quarter. Millstone Evans Group LLC now owns 297 shares of the utilities provider’s stock valued at $39,000 after buying an additional 103 shares during the last quarter. Finally, Gill Capital Partners LLC raised its holdings in shares of Duke Energy by 128.9% in the second quarter. Gill Capital Partners LLC now owns 309 shares of the utilities provider’s stock valued at $39,000 after buying an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy News Roundup

Here are the key news stories impacting Duke Energy this week:

• Positive Sentiment: Morgan Stanley raised its price target for Duke Energy from $127 to $128 while maintaining an “equal weight” rating. The increase suggests limited but slightly improved upside based on the firm’s updated outlook. Morgan Stanley raises Duke Energy price target
• Positive Sentiment: A Davidson County, North Carolina, planning board recommended approval of a Duke Energy natural-gas project, while related rezoning plans in Lexington moved forward. Progress on the project could support Duke’s generation capacity and long-term reliability, although additional approvals may still be required. Davidson County planning board recommends approval
• Neutral Sentiment: Duke Energy lineworkers received six awards at the International Lineman’s Rodeo. The recognition highlights workforce expertise and grid-maintenance capabilities but is unlikely to materially affect near-term earnings. Duke Energy lineworkers earn six awards
• Neutral Sentiment: Duke Energy has attracted increased attention from Zacks readers. The coverage is informational and does not represent a new earnings, guidance, or valuation catalyst. Zacks Duke Energy investor attention
• Negative Sentiment: HSBC initiated coverage with a “hold” rating and a $123 price target, below the recently cited trading level. The cautious view signals limited near-term upside and could restrain enthusiasm for DUK. HSBC initiates coverage of Duke Energy
• Negative Sentiment: Cincinnati residents pushed back against Duke Energy’s proposed rate increase. Opposition could create regulatory uncertainty or delay recovery of higher operating and infrastructure costs if regulators require changes to the request. Cincinnati residents oppose Duke Energy rate increase

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DUK. Weiss Ratings reiterated a “buy (b)” rating on shares of Duke Energy in a research note on Friday, July 31st. HSBC started coverage on Duke Energy in a research report on Thursday. They issued a “hold” rating and a $123.00 price target on the stock. Mizuho set a $136.00 price objective on Duke Energy in a research note on Wednesday, August 5th. Jefferies Financial Group reaffirmed a “hold” rating and set a $121.00 price objective on shares of Duke Energy in a research report on Monday, October 12th. Finally, BTIG Research reiterated a “buy” rating on shares of Duke Energy in a research note on Thursday, July 23rd. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.19.

Duke Energy Stock Up 3.9%

Shares of Duke Energy stock opened at $125.40 on Friday. The company has a market cap of $97.78 billion, a P/E ratio of 18.83, a PEG ratio of 2.81 and a beta of 0.36. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.43 and a current ratio of 0.66. Duke Energy Corporation has a one year low of $112.40 and a one year high of $134.49. The firm has a fifty day moving average of $118.84 and a two-hundred day moving average of $123.45.

Duke Energy (NYSE:DUK) last released its earnings results on Monday, August 3rd. The utilities provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.30 by $0.13. Duke Energy had a net margin of 15.78% and a return on equity of 9.78%. The company had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter last year, the business earned $1.25 EPS. The business’s revenue was up 1.1% on a year-over-year basis. On average, analysts forecast that Duke Energy Corporation will post 6.72 earnings per share for the current year.

Duke Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Friday, November 13th will be given a $1.0850 dividend. The ex-dividend date is Friday, November 13th. This represents a $4.34 dividend on an annualized basis and a yield of 3.5%. Duke Energy’s dividend payout ratio (DPR) is presently 65.17%.

Duke Energy Profile

Duke Energy Corporation is an energy holding company that provides regulated electric and natural gas utility services in the United States. Its electric utilities generate, transmit, distribute and sell electricity to residential, commercial, industrial and other customers. The company’s generation portfolio includes nuclear, natural gas, coal, hydroelectric and renewable energy resources.

Duke Energy serves customers primarily in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky.