Duke Energy Co. (NYSE:DUK) Shares Sold by Cypress Capital Group

Cypress Capital Group reduced its stake in Duke Energy Co. (NYSE:DUK) by 20.5% in the 3rd quarter, Holdings Channel reports. The firm owned 25,635 shares of the utilities provider’s stock after selling 6,620 shares during the quarter. Cypress Capital Group’s holdings in Duke Energy were worth $2,956,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC lifted its position in Duke Energy by 11,471.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 6,777,973 shares of the utilities provider’s stock worth $781,500,000 after acquiring an additional 6,719,398 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Duke Energy by 1.7% during the second quarter. Envestnet Asset Management Inc. now owns 2,471,035 shares of the utilities provider’s stock worth $247,672,000 after purchasing an additional 40,243 shares in the last quarter. Swiss National Bank boosted its stake in shares of Duke Energy by 0.3% in the third quarter. Swiss National Bank now owns 2,290,641 shares of the utilities provider’s stock valued at $264,111,000 after purchasing an additional 6,500 shares during the period. Mackenzie Financial Corp grew its holdings in Duke Energy by 65.7% during the 2nd quarter. Mackenzie Financial Corp now owns 2,052,969 shares of the utilities provider’s stock valued at $205,769,000 after purchasing an additional 813,744 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Duke Energy by 15.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,816,758 shares of the utilities provider’s stock worth $182,101,000 after buying an additional 240,136 shares during the period. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Stock Up 0.2 %

Shares of Duke Energy stock opened at $113.78 on Thursday. Duke Energy Co. has a twelve month low of $88.73 and a twelve month high of $121.25. The stock has a market capitalization of $87.89 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 2.99 and a beta of 0.47. 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 business’s 50 day simple moving average is $115.21 and its 200-day simple moving average is $109.56.

Duke Energy (NYSE:DUK) last issued 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). The company had revenue of $8.16 billion during the quarter, compared to analyst estimates of $8.06 billion. Duke Energy had a return on equity of 9.34% and a net margin of 14.31%. Duke Energy’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.94 earnings per share. Equities research analysts forecast that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $1.045 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.18 annualized dividend and a dividend yield of 3.67%. Duke Energy’s payout ratio is currently 76.84%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Duke Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Mizuho upgraded Duke Energy from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $116.00 to $121.00 in a report on Tuesday, October 15th. BMO Capital Markets increased their target price on Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. Morgan Stanley lifted their price target on shares of Duke Energy from $114.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $135.00 price objective on shares of Duke Energy in a research note on Thursday, August 29th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.85.

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.