Bell Bank Reduces Position in Duke Energy Co. (NYSE:DUK)

Bell Bank decreased its holdings in Duke Energy Co. (NYSE:DUK - Free Report) by 15.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 74,087 shares of the utilities provider's stock after selling 13,409 shares during the quarter. Duke Energy accounts for approximately 1.0% of Bell Bank's holdings, making the stock its 22nd biggest position. Bell Bank's holdings in Duke Energy were worth $8,542,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC increased its position in Duke Energy by 11.7% during the first quarter. Empowered Funds LLC now owns 13,524 shares of the utilities provider's stock valued at $1,308,000 after acquiring an additional 1,420 shares during the last quarter. HBK Sorce Advisory LLC lifted its stake in shares of Duke Energy by 3.1% in the 1st quarter. HBK Sorce Advisory LLC now owns 11,141 shares of the utilities provider's stock worth $1,077,000 after purchasing an additional 339 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Duke Energy by 3.1% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,702 shares of the utilities provider's stock worth $455,000 after buying an additional 141 shares during the last quarter. Gratus Wealth Advisors LLC grew its position in Duke Energy by 6.7% during the first quarter. Gratus Wealth Advisors LLC now owns 9,721 shares of the utilities provider's stock valued at $933,000 after buying an additional 607 shares during the period. Finally, Twin Tree Management LP bought a new stake in Duke Energy during the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 65.31% of the company's stock.

Duke Energy Price Performance

Shares of NYSE:DUK traded down $0.63 during midday trading on Thursday, reaching $110.68. 3,684,193 shares of the company were exchanged, compared to its average volume of 3,061,756. The stock has a market cap of $85.50 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 3.06 and a beta of 0.47. The business's fifty day moving average is $115.61 and its two-hundred day moving average is $109.08. Duke Energy Co. has a one year low of $88.27 and a one year high of $121.25. The company has a current ratio of 0.70, a quick ratio of 0.45 and a debt-to-equity ratio of 1.55.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.62 earnings per share for the quarter, missing analysts' consensus estimates of $1.73 by ($0.11). Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. The firm had revenue of $8.16 billion for the quarter, compared to analysts' expectations of $8.06 billion. During the same quarter in the previous year, the business earned $1.94 EPS. The company's revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts predict that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $1.045 per share. The ex-dividend date is Friday, November 15th. This represents a $4.18 annualized dividend and a yield of 3.78%. Duke Energy's dividend payout ratio (DPR) is currently 76.84%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DUK. Mizuho upgraded shares of Duke Energy from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $116.00 to $121.00 in a research note on Tuesday, October 15th. Morgan Stanley boosted their price target on Duke Energy from $114.00 to $120.00 and gave the company an "equal weight" rating in a report on Wednesday, September 25th. Wells Fargo & Company raised their price objective on Duke Energy from $110.00 to $122.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 7th. Scotiabank boosted their price objective on Duke Energy from $104.00 to $113.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 20th. Finally, The Goldman Sachs Group raised their target price on shares of Duke Energy from $102.00 to $113.00 and gave the stock a "neutral" rating in a research note on Monday, August 12th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.