Glen Eagle Advisors LLC Trims Stake in Duke Energy Co. (NYSE:DUK)

Glen Eagle Advisors LLC trimmed its stake in Duke Energy Co. (NYSE:DUK) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,752 shares of the utilities provider’s stock after selling 162 shares during the quarter. Glen Eagle Advisors LLC’s holdings in Duke Energy were worth $663,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. iA Global Asset Management Inc. boosted its stake in shares of Duke Energy by 2.7% during the 3rd quarter. iA Global Asset Management Inc. now owns 22,652 shares of the utilities provider’s stock worth $2,612,000 after purchasing an additional 588 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Duke Energy by 21.7% during the third quarter. EP Wealth Advisors LLC now owns 30,113 shares of the utilities provider’s stock valued at $3,472,000 after buying an additional 5,378 shares during the period. Insigneo Advisory Services LLC boosted its position in Duke Energy by 4.1% during the third quarter. Insigneo Advisory Services LLC now owns 10,495 shares of the utilities provider’s stock worth $1,210,000 after acquiring an additional 412 shares during the last quarter. Worldquant Millennium Advisors LLC raised its holdings in Duke Energy by 47.8% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 27,013 shares of the utilities provider’s stock valued at $3,115,000 after acquiring an additional 8,732 shares during the last quarter. Finally, Weaver Consulting Group purchased a new position in shares of Duke Energy during the 3rd quarter worth $217,000. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Stock Performance

DUK stock opened at $112.04 on Friday. The stock has a market capitalization of $86.55 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 2.99 and a beta of 0.47. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.70 and a quick ratio of 0.45. The company has a 50 day moving average price of $115.01 and a 200 day moving average price of $110.49. Duke Energy Co. has a fifty-two week low of $90.09 and a fifty-two week high of $121.25.

Duke Energy (NYSE:DUK) last announced its quarterly earnings data 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 business had revenue of $8.16 billion during the quarter, compared to analyst estimates of $8.06 billion. Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.94 earnings per share. Analysts forecast that Duke Energy Co. will post 5.95 EPS for the current year.

Duke Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s dividend payout ratio is currently 76.84%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Bank of America increased their price objective on shares of Duke Energy from $116.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Scotiabank boosted their price target on Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. raised their price target on shares of Duke Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Morgan Stanley reduced their price objective on shares of Duke Energy from $122.00 to $118.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Finally, The Goldman Sachs Group increased their price target on shares of Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.