Callan Family Office LLC Cuts Stock Holdings in Duke Energy Corporation (NYSE:DUK)

Key Points

• Callan Family Office LLC reduced its stake in Duke Energy Corporation by 32.9%, owning 8,199 shares valued at $1 million after selling 4,023 shares in the 1st quarter.
• Duke Energy recently increased its quarterly dividend to $1.065 per share, reflecting a 3.4% yield, up from the previous $1.05 per share.
• Analysts have varied opinions on Duke Energy's stock, with target prices ranging from $124.00 to $142.00, and it currently holds an average rating of "Moderate Buy".

Callan Family Office LLC trimmed its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 32.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,199 shares of the utilities provider's stock after selling 4,023 shares during the period. Callan Family Office LLC's holdings in Duke Energy were worth $1,000,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DUK. HighTower Advisors LLC grew its position in shares of Duke Energy by 1.7% during the first quarter. HighTower Advisors LLC now owns 775,715 shares of the utilities provider's stock worth $94,614,000 after buying an additional 13,178 shares in the last quarter. Eagle Global Advisors LLC acquired a new position in Duke Energy during the first quarter worth about $1,365,000. Cypress Capital Group raised its stake in Duke Energy by 50.0% during the 1st quarter. Cypress Capital Group now owns 29,435 shares of the utilities provider's stock valued at $3,590,000 after purchasing an additional 9,815 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its position in shares of Duke Energy by 4.9% in the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 5,810 shares of the utilities provider's stock worth $704,000 after purchasing an additional 269 shares in the last quarter. Finally, Meridian Wealth Management LLC lifted its position in shares of Duke Energy by 2.5% in the first quarter. Meridian Wealth Management LLC now owns 14,033 shares of the utilities provider's stock worth $1,712,000 after purchasing an additional 340 shares in the last quarter. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Duke Energy

In other news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $124.26, for a total transaction of $832,542.00. Following the completion of the sale, the executive vice president owned 46,422 shares in the company, valued at $5,768,397.72. This trade represents a 12.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.14% of the company's stock.

Duke Energy Trading Down 1.6%

NYSE DUK traded down $2.00 during trading on Friday, hitting $122.26. The stock had a trading volume of 4,023,961 shares, compared to its average volume of 3,607,245. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.42 and a current ratio of 0.66. The stock has a market capitalization of $95.07 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 3.03 and a beta of 0.36. Duke Energy Corporation has a one year low of $105.20 and a one year high of $127.85. The stock has a 50 day simple moving average of $118.93 and a 200 day simple moving average of $117.88.

Duke Energy (NYSE:DUK - Get Free Report) last announced its earnings results on Tuesday, August 5th. The utilities provider reported $1.25 EPS for the quarter, missing analysts' consensus estimates of $1.29 by ($0.04). Duke Energy had a return on equity of 9.85% and a net margin of 15.51%. The firm had revenue of $7.51 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the prior year, the firm posted $1.18 earnings per share. The business's revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts predict that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be issued a $1.065 dividend. This is a boost from Duke Energy's previous quarterly dividend of $1.05. This represents a $4.26 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, August 15th. Duke Energy's payout ratio is 67.97%.

Wall Street Analysts Forecast Growth

DUK has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on shares of Duke Energy from $127.00 to $138.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Morgan Stanley lowered their price target on Duke Energy from $125.00 to $124.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. Raymond James Financial began coverage on Duke Energy in a research report on Friday, June 13th. They set a "market perform" rating for the company. BMO Capital Markets upped their price objective on Duke Energy from $131.00 to $132.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Finally, The Goldman Sachs Group set a $132.00 price target on Duke Energy in a research report on Tuesday, July 1st. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $129.80.

Duke Energy Company Profile

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.