1ST Source Bank Reduces Holdings in Duke Energy Co. (NYSE:DUK)

1ST Source Bank cut its position in shares of Duke Energy Co. (NYSE:DUK) by 1.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,043 shares of the utilities provider’s stock after selling 138 shares during the quarter. 1ST Source Bank’s holdings in Duke Energy were worth $1,273,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DUK. Legacy Investment Solutions LLC purchased a new stake in Duke Energy in the third quarter worth about $29,000. Northwest Investment Counselors LLC bought a new position in shares of Duke Energy during the third quarter valued at $30,000. Sachetta LLC grew its position in Duke Energy by 41.9% during the 2nd quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 96 shares during the last quarter. Reston Wealth Management LLC purchased a new position in shares of Duke Energy in the third quarter worth $38,000. Finally, Catalyst Capital Advisors LLC grew its stake in shares of Duke Energy by 100.0% in the third quarter. Catalyst Capital Advisors LLC now owns 334 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 167 shares during the period. 65.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DUK has been the subject of several research reports. BMO Capital Markets upped their price target 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. Barclays increased their price target on shares of Duke Energy from $102.00 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. KeyCorp cut Duke Energy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 22nd. Mizuho upgraded Duke Energy from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $116.00 to $121.00 in a research report on Tuesday, October 15th. Finally, Morgan Stanley cut their price objective on Duke Energy from $122.00 to $118.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Duke Energy has a consensus rating of “Moderate Buy” and a consensus price target of $122.23.

Duke Energy Trading Up 0.5 %

Shares of NYSE:DUK traded up $0.50 during trading on Friday, reaching $109.66. The company’s stock had a trading volume of 1,395,917 shares, compared to its average volume of 3,047,206. Duke Energy Co. has a 12 month low of $90.09 and a 12 month high of $121.25. The company has a current ratio of 0.70, a quick ratio of 0.45 and a debt-to-equity ratio of 1.55. The firm’s 50 day simple moving average is $114.49 and its two-hundred day simple moving average is $110.75. The stock has a market capitalization of $84.71 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 2.90 and a beta of 0.47.

Duke Energy (NYSE:DUK) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.11). Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. The company had revenue of $8.16 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same period in the prior year, the firm posted $1.94 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, research analysts predict that Duke Energy Co. will post 5.95 EPS for the current fiscal year.

Duke Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $1.045 per share. The ex-dividend date is Friday, November 15th. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.81%. Duke Energy’s dividend payout ratio is 76.84%.

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.