Iowa State Bank lowered its holdings in shares of Duke Energy Corporation (NYSE:DUK – Free Report) by 10.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 38,090 shares of the utilities provider’s stock after selling 4,411 shares during the period. Iowa State Bank’s holdings in Duke Energy were worth $4,343,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Financial Symmetry Inc boosted its position in Duke Energy by 11.1% during the third quarter. Financial Symmetry Inc now owns 3,266 shares of the utilities provider’s stock valued at $372,000 after buying an additional 326 shares during the period. Park National Corp OH increased its holdings in shares of Duke Energy by 1.4% in the third quarter. Park National Corp OH now owns 13,673 shares of the utilities provider’s stock worth $1,559,000 after buying an additional 190 shares during the period. Tompkins Financial Corp lifted its stake in shares of Duke Energy by 0.5% in the 3rd quarter. Tompkins Financial Corp now owns 81,282 shares of the utilities provider’s stock valued at $9,267,000 after acquiring an additional 417 shares during the last quarter. CapWealth Advisors LLC boosted its holdings in Duke Energy by 0.6% during the 3rd quarter. CapWealth Advisors LLC now owns 215,220 shares of the utilities provider’s stock valued at $24,537,000 after acquiring an additional 1,367 shares during the period. Finally, Eastern Bank grew its position in Duke Energy by 11.6% during the 3rd quarter. Eastern Bank now owns 6,829 shares of the utilities provider’s stock worth $779,000 after acquiring an additional 712 shares during the last quarter. 65.31% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. Barclays dropped their price objective on Duke Energy from $140.00 to $132.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. BTIG Research reissued a “buy” rating on shares of Duke Energy in a report on Thursday, July 23rd. BMO Capital Markets decreased their price objective on shares of Duke Energy from $134.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Duke Energy in a research note on Friday, July 31st. Finally, Truist Financial cut their target price on Duke Energy from $138.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, August 17th. Ten equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $136.62.
Duke Energy Trading Up 0.7%
Shares of DUK traded up $0.84 during trading hours on Tuesday, reaching $114.68. 1,741,599 shares of the company traded hands, compared to its average volume of 3,995,320. The company’s fifty day moving average price is $120.36 and its two-hundred day moving average price is $124.44. The company has a market capitalization of $89.42 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 2.66 and a beta of 0.36. The company has a quick ratio of 0.43, a current ratio of 0.66 and a debt-to-equity ratio of 1.47. Duke Energy Corporation has a 12 month low of $112.40 and a 12 month high of $134.49.
Duke Energy (NYSE:DUK – Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $7.66 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. Duke Energy’s revenue was up 1.1% on a year-over-year basis. Equities research analysts predict that Duke Energy Corporation will post 6.72 earnings per share for the current fiscal year.
Duke Energy Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Friday, November 13th will be given a dividend of $1.0850 per share. The ex-dividend date is Friday, November 13th. This represents a $4.34 annualized dividend and a dividend yield of 3.8%. Duke Energy’s payout ratio is currently 65.17%.
Duke Energy Profile
Duke Energy Corporation (NYSE: DUK) is an energy holding company that operates regulated electric and natural gas utilities in the United States. Its electric utilities generate, transmit, distribute and sell electricity to residential, commercial, industrial and other customers.
The company serves customers across the Carolinas, Florida, Indiana, Ohio and Kentucky. Duke Energy also operates natural gas utilities and related infrastructure in several states, including North Carolina, South Carolina, Ohio, Kentucky and Tennessee.
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