Chevy Chase Trust Holdings LLC Cuts Stock Holdings in Duke Energy Co. (NYSE:DUK)

Chevy Chase Trust Holdings LLC lowered its position in Duke Energy Co. (NYSE:DUK) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 416,068 shares of the utilities provider’s stock after selling 8,410 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Duke Energy worth $47,973,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its position in shares of Duke Energy by 69.6% during the 2nd quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after buying an additional 119 shares in the last quarter. Olistico Wealth LLC purchased a new stake in shares of Duke Energy during the second quarter valued at approximately $30,000. Northwest Investment Counselors LLC bought a new stake in Duke Energy during the third quarter worth $30,000. Sachetta LLC boosted its position in Duke Energy by 41.9% in the second quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 96 shares during the last quarter. Finally, Reston Wealth Management LLC purchased a new stake in shares of Duke Energy during the 3rd quarter valued at $38,000. 65.31% of the stock is owned by institutional investors.

Duke Energy Stock Performance

Shares of DUK opened at $115.17 on Tuesday. Duke Energy Co. has a 52-week low of $90.09 and a 52-week high of $121.25. The stock’s 50-day simple moving average is $115.18 and its 200 day simple moving average is $110.29. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.45 and a current ratio of 0.70. The stock has a market capitalization of $88.97 billion, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 3.09 and a beta of 0.47.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11). The firm had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Duke Energy had a return on equity of 9.34% and a net margin of 14.31%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.94 earnings per share. Research analysts forecast that Duke Energy Co. will post 5.96 EPS for the current fiscal year.

Duke Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued 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 3.63%. Duke Energy’s payout ratio is currently 76.84%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DUK shares. Evercore ISI boosted their price target on shares of Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. KeyCorp downgraded shares of Duke Energy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 22nd. Scotiabank lifted their price target on shares of Duke Energy from $104.00 to $113.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. BMO Capital Markets increased their price objective on Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Finally, Morgan Stanley lowered their target price on Duke Energy from $122.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.69.

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.