Evercore Wealth Management LLC reduced its stake in shares of Duke Energy Corp (NYSE:DUK) by 6.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,273 shares of the utilities provider’s stock after selling 1,731 shares during the period. Evercore Wealth Management LLC’s holdings in Duke Energy were worth $2,022,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in DUK. Connor Clark & Lunn Investment Management Ltd. bought a new position in Duke Energy during the 2nd quarter worth $5,688,000. Jennison Associates LLC raised its position in Duke Energy by 53.0% during the 2nd quarter. Jennison Associates LLC now owns 599,030 shares of the utilities provider’s stock worth $47,371,000 after purchasing an additional 207,506 shares during the last quarter. Alps Advisors Inc. raised its position in Duke Energy by 12.6% during the 2nd quarter. Alps Advisors Inc. now owns 11,563 shares of the utilities provider’s stock worth $914,000 after purchasing an additional 1,292 shares during the last quarter. Pitcairn Co. bought a new position in shares of Duke Energy in the 2nd quarter worth about $211,000. Finally, Sandy Spring Bank raised its position in shares of Duke Energy by 9.7% in the 2nd quarter. Sandy Spring Bank now owns 9,207 shares of the utilities provider’s stock worth $728,000 after acquiring an additional 817 shares in the last quarter. 59.40% of the stock is owned by institutional investors and hedge funds.
Duke Energy stock opened at $87.67 on Friday. Duke Energy Corp has a 52 week low of $71.96 and a 52 week high of $91.35. The company has a current ratio of 0.68, a quick ratio of 0.46 and a debt-to-equity ratio of 1.17. The company has a market cap of $62.18 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 3.66 and a beta of -0.03.
Duke Energy (NYSE:DUK) last posted its earnings results on Friday, November 2nd. The utilities provider reported $1.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.12. Duke Energy had a net margin of 11.98% and a return on equity of 8.02%. The firm had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $6.59 billion. During the same quarter last year, the firm earned $1.59 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that Duke Energy Corp will post 4.74 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 17th. Shareholders of record on Friday, November 16th were given a dividend of $0.9275 per share. The ex-dividend date was Thursday, November 15th. This represents a $3.71 annualized dividend and a dividend yield of 4.23%. Duke Energy’s dividend payout ratio is currently 81.18%.
DUK has been the subject of several research analyst reports. Zacks Investment Research raised Duke Energy from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research report on Wednesday, December 12th. ValuEngine upgraded Duke Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. Barclays lifted their price target on Duke Energy from $86.00 to $88.00 and gave the company a “hold” rating in a research note on Monday, November 19th. Morgan Stanley lifted their price target on Duke Energy from $86.00 to $91.00 and gave the company a “hold” rating in a research note on Tuesday, September 11th. Finally, Wells Fargo & Co lifted their price target on Duke Energy from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, September 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. Duke Energy presently has a consensus rating of “Buy” and an average price target of $84.88.
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About Duke Energy
Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; uses coal, hydroelectric, natural gas, oil, renewable sources, and nuclear fuel to generate electricity; and engages in the wholesale of electricity to municipalities, electric cooperative utilities, and other load-serving entities.
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