Duke Energy Corporation $DUK Stock: Cornerstone Wealth Management LLC Reduces Position

Cornerstone Wealth Management LLC lowered its stake in Duke Energy Corporation (NYSE:DUK) by 21.3% in the 3rd quarter, Holdings Channel reports. The firm owned 14,943 shares of the utilities provider’s stock after selling 4,043 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Duke Energy were worth $1,704,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Fulcrum Asset Management LLP purchased a new stake in Duke Energy during the third quarter valued at about $29,000. Livelsberger Financial Advisory bought a new stake in Duke Energy during the third quarter worth about $31,000. Compass Wealth Management LLC purchased a new position in shares of Duke Energy in the 3rd quarter worth about $33,000. Evergreen Advisors LLC purchased a new position in shares of Duke Energy in the 1st quarter worth about $36,000. Finally, Dynamic Wealth Strategies LLC bought a new position in shares of Duke Energy during the 1st quarter valued at about $38,000. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Stock Performance

NYSE DUK opened at $128.59 on Friday. The company has a 50-day simple moving average of $120.51 and a two-hundred day simple moving average of $124.71. Duke Energy Corporation has a 12-month low of $112.40 and a 12-month high of $134.49. The firm has a market cap of $100.27 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 3.00 and a beta of 0.33. The company has a quick ratio of 0.44, a current ratio of 0.68 and a debt-to-equity ratio of 1.49.

Duke Energy (NYSE:DUK) last released its quarterly earnings data on Thursday, November 5th. The utilities provider reported $1.99 EPS for the quarter, topping the consensus estimate of $1.86 by $0.13. Duke Energy had a return on equity of 9.82% and a net margin of 15.94%. The firm had revenue of $9.10 billion for the quarter, compared to the consensus estimate of $8.91 billion. During the same quarter in the previous year, the business earned $1.81 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities analysts forecast that Duke Energy Corporation will post 6.73 EPS for the current year.

Duke Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Friday, November 13th will be paid a $1.0850 dividend. This represents a $4.34 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Friday, November 13th. Duke Energy’s payout ratio is 63.45%.

Insider Buying and Selling

In other Duke Energy news, EVP Bonnie Titone sold 2,900 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $128.00, for a total value of $371,200.00. Following the completion of the sale, the executive vice president owned 26,111 shares in the company, valued at approximately $3,342,208. The trade was a 10.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.12% of the stock is owned by company insiders.

Key Headlines Impacting Duke Energy

Investors following DUK have been watching these headlines:

• Positive Sentiment: Duke Energy Florida plans four solar sites totaling 300 MW, paired with battery storage, and forecasts about $1 billion in customer savings over the projects’ lifetimes. The additions could support reliability and provide a lower-cost source of power, though the savings are not a direct earnings estimate. What Could Duke Energy Gain From Four New Florida Solar Sites?
• Negative Sentiment: Florida regulators rejected Duke Energy Florida’s proposal for handling data-center-related costs, citing ratepayer protections. This creates uncertainty about cost recovery and how the utility can serve large new customers. Florida regulators reject Duke Energy data-center plan
• Negative Sentiment: ETFs were net sellers of $43.7 million of DUK shares on Nov. 10, a short-term demand signal that may weigh on sentiment, though fund flows alone do not establish a change in the company’s outlook. ETFs are net sellers of Duke Energy

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on DUK shares. Wall Street Zen cut Duke Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 7th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $121.00 target price on shares of Duke Energy in a research note on Monday, October 12th. KeyCorp reduced their price target on shares of Duke Energy from $139.00 to $128.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 13th. HSBC initiated coverage on shares of Duke Energy in a research note on Thursday, October 22nd. They set a “hold” rating and a $123.00 price target on the stock. Finally, Truist Financial lowered their price objective on shares of Duke Energy from $135.00 to $130.00 and set a “buy” rating for the company in a report on Monday, October 12th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.19.

About Duke Energy

Duke Energy is a U.S. energy company focused primarily on regulated electric utilities and natural gas distribution. Its businesses generate, transmit and distribute electricity, and provide natural gas service to residential, commercial and industrial customers. The company serves electric customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its natural gas distribution operations serve customers in several states, including North Carolina, South Carolina, Ohio, Kentucky and Tennessee.