New York State Common Retirement Fund Sells 8,459,428 Shares of Duke Energy Co. (NYSE:DUK)

New York State Common Retirement Fund lowered its position in Duke Energy Co. (NYSE:DUK) by 91.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 837,363 shares of the utilities provider’s stock after selling 8,459,428 shares during the period. New York State Common Retirement Fund owned 0.11% of Duke Energy worth $96,548,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Securities Inc. raised its holdings in Duke Energy by 10.2% in the third quarter. Principal Securities Inc. now owns 34,792 shares of the utilities provider’s stock worth $4,012,000 after purchasing an additional 3,208 shares in the last quarter. Stephens Inc. AR lifted its position in Duke Energy by 3.0% during the 3rd quarter. Stephens Inc. AR now owns 235,247 shares of the utilities provider’s stock valued at $27,124,000 after acquiring an additional 6,875 shares during the period. Aspen Wealth Strategies LLC bought a new stake in Duke Energy during the third quarter worth about $615,000. Reston Wealth Management LLC bought a new position in shares of Duke Energy during the third quarter valued at approximately $38,000. Finally, United Asset Strategies Inc. lifted its holdings in shares of Duke Energy by 27.4% during the third quarter. United Asset Strategies Inc. now owns 2,839 shares of the utilities provider’s stock valued at $327,000 after purchasing an additional 611 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Trading Down 2.3 %

Duke Energy stock opened at $112.67 on Friday. The business has a 50-day simple moving average of $115.84 and a two-hundred day simple moving average of $108.14. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. The company has a market cap of $87.00 billion, a P/E ratio of 20.75, a P/E/G ratio of 3.11 and a beta of 0.46. Duke Energy Co. has a 52-week low of $86.61 and a 52-week high of $121.25.

Duke Energy (NYSE:DUK) last announced its earnings results on Tuesday, August 6th. The utilities provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. The company had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $6.84 billion. During the same period last year, the firm earned $0.91 EPS. Duke Energy’s revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts predict that Duke Energy Co. will post 5.98 EPS for the current year.

Duke Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a dividend of $1.045 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.71%. Duke Energy’s dividend payout ratio (DPR) is presently 76.98%.

Insider Buying and Selling

In other Duke Energy news, EVP Louis E. Renjel sold 540 shares of Duke Energy stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $113.64, for a total transaction of $61,365.60. Following the transaction, the executive vice president now owns 19,884 shares of the company’s stock, valued at $2,259,617.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Scotiabank upped their price target on Duke Energy from $104.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company raised their price target on Duke Energy from $110.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Mizuho upgraded shares of 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 note on Tuesday, October 15th. BMO Capital Markets lifted their target price on shares of Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Finally, The Goldman Sachs Group increased their price target on shares of Duke Energy from $102.00 to $113.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Duke Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.85.

Duke Energy 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.