Schmidt P J Investment Management Inc. Sells 300 Shares of Duke Energy Co. (NYSE:DUK)

Schmidt P J Investment Management Inc. lowered its stake in Duke Energy Co. (NYSE:DUK) by 4.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,154 shares of the utilities provider’s stock after selling 300 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Duke Energy were worth $825,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of DUK. Fortitude Family Office LLC lifted its stake in Duke Energy by 69.6% in the 2nd quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 119 shares in the last quarter. Olistico Wealth LLC purchased a new stake in Duke Energy in the 2nd quarter worth $30,000. Northwest Investment Counselors LLC purchased a new stake in Duke Energy in the 3rd quarter worth $30,000. Cedar Wealth Management LLC lifted 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 purchasing an additional 169 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in Duke Energy in the 1st quarter worth $36,000. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Performance

Duke Energy stock opened at $119.01 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.81 and a quick ratio of 0.53. Duke Energy Co. has a 1-year low of $86.61 and a 1-year high of $121.25. The firm has a market capitalization of $91.85 billion, a P/E ratio of 29.90, a price-to-earnings-growth ratio of 3.06 and a beta of 0.46. The company’s 50-day moving average is $115.40 and its 200 day moving average is $107.25.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. The company had revenue of $7.17 billion for the quarter, compared to analyst estimates of $6.84 billion. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 EPS. Research analysts forecast that Duke Energy Co. will post 5.97 EPS for the current year.

Duke Energy Announces Dividend

The business 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 3.51%. Duke Energy’s dividend payout ratio is currently 105.03%.

Insiders Place Their Bets

In other Duke Energy news, EVP Louis E. Renjel sold 540 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $113.64, for a total value of $61,365.60. Following the transaction, the executive vice president now directly owns 19,884 shares in the company, valued at $2,259,617.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on DUK. Wells Fargo & Company boosted their price target on shares of Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Barclays upped their target price on shares of Duke Energy from $102.00 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. upped their target price on shares of Duke Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. BMO Capital Markets upped their target price on shares of Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Finally, Jefferies Financial Group began coverage on shares of Duke Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $138.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Duke Energy has an average rating of “Moderate Buy” and an average target price 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.