Norway Savings Bank Increases Stock Position in Duke Energy Co. (NYSE:DUK)

Norway Savings Bank raised its position in shares of Duke Energy Co. (NYSE:DUKGet Rating) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,940 shares of the utilities provider’s stock after buying an additional 345 shares during the quarter. Duke Energy comprises approximately 1.2% of Norway Savings Bank’s portfolio, making the stock its 23rd biggest position. Norway Savings Bank’s holdings in Duke Energy were worth $2,353,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Tiedemann Advisors LLC increased its holdings in shares of Duke Energy by 3.7% during the first quarter. Tiedemann Advisors LLC now owns 2,581 shares of the utilities provider’s stock valued at $287,000 after acquiring an additional 91 shares in the last quarter. RE Dickinson Investment Advisors LLC increased its holdings in shares of Duke Energy by 13.0% during the first quarter. RE Dickinson Investment Advisors LLC now owns 801 shares of the utilities provider’s stock valued at $89,000 after acquiring an additional 92 shares in the last quarter. Kanawha Capital Management LLC increased its holdings in shares of Duke Energy by 1.7% during the first quarter. Kanawha Capital Management LLC now owns 5,634 shares of the utilities provider’s stock valued at $629,000 after acquiring an additional 93 shares in the last quarter. Shepherd Financial Partners LLC increased its holdings in shares of Duke Energy by 0.5% during the first quarter. Shepherd Financial Partners LLC now owns 20,845 shares of the utilities provider’s stock valued at $2,326,000 after acquiring an additional 94 shares in the last quarter. Finally, Asset Advisors Investment Management LLC increased its holdings in shares of Duke Energy by 3.1% during the first quarter. Asset Advisors Investment Management LLC now owns 3,121 shares of the utilities provider’s stock valued at $348,000 after acquiring an additional 95 shares in the last quarter. 63.76% of the stock is currently owned by institutional investors.

Duke Energy Price Performance

NYSE:DUK traded down $0.97 during trading hours on Friday, reaching $103.71. The stock had a trading volume of 2,278,547 shares, compared to its average volume of 2,772,556. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.50 and a current ratio of 0.70. Duke Energy Co. has a 52 week low of $95.48 and a 52 week high of $116.33. The company has a 50 day moving average price of $108.48 and a two-hundred day moving average price of $108.91. The stock has a market capitalization of $79.85 billion, a PE ratio of 20.93, a PEG ratio of 3.14 and a beta of 0.35.

Duke Energy (NYSE:DUKGet Rating) last released its quarterly earnings data on Thursday, August 4th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.04). The firm had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $5.79 billion. Duke Energy had a return on equity of 8.42% and a net margin of 14.50%. The business’s revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.15 EPS. As a group, sell-side analysts anticipate that Duke Energy Co. will post 5.45 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, August 12th were given a dividend of $1.005 per share. This is a boost from Duke Energy’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $4.02 dividend on an annualized basis and a yield of 3.88%. Duke Energy’s payout ratio is 81.38%.

Analyst Ratings Changes

DUK has been the subject of several research analyst reports. Barclays reduced their price objective on Duke Energy from $119.00 to $110.00 in a report on Monday, July 18th. Morgan Stanley reduced their price objective on Duke Energy from $123.00 to $121.00 and set an “equal weight” rating for the company in a report on Thursday. KeyCorp reduced their price objective on Duke Energy from $121.00 to $116.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. Credit Suisse Group downgraded Duke Energy from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $112.00 to $114.00 in a report on Friday, August 5th. Finally, UBS Group cut Duke Energy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $122.00 to $112.00 in a research report on Thursday, June 30th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $112.90.

Insider Buying and Selling at Duke Energy

In other Duke Energy news, EVP Kodwo Ghartey-Tagoe sold 4,700 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $109.67, for a total transaction of $515,449.00. Following the transaction, the executive vice president now owns 14,002 shares in the company, valued at $1,535,599.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Duke Energy news, Director E Marie Mckee sold 1,589 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $109.39, for a total transaction of $173,820.71. Following the transaction, the director now owns 1 shares in the company, valued at $109.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kodwo Ghartey-Tagoe sold 4,700 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $109.67, for a total transaction of $515,449.00. Following the completion of the transaction, the executive vice president now owns 14,002 shares in the company, valued at $1,535,599.34. The disclosure for this sale can be found here. Insiders have sold 7,819 shares of company stock worth $856,533 over the last quarter. Insiders own 0.10% of the company’s stock.

Duke Energy Company Profile

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Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; and uses coal, hydroelectric, natural gas, oil, renewable generation, and nuclear fuel to generate electricity.

Further Reading

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Institutional Ownership by Quarter for Duke Energy (NYSE:DUK)

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