First County Bank CT Cuts Position in Duke Energy Co. (NYSE:DUK)

First County Bank CT cut its holdings in shares of Duke Energy Co. (NYSE:DUK - Free Report) by 20.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,250 shares of the utilities provider's stock after selling 4,464 shares during the quarter. Duke Energy accounts for 1.0% of First County Bank CT's investment portfolio, making the stock its 24th largest position. First County Bank CT's holdings in Duke Energy were worth $1,989,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC acquired a new stake in Duke Energy in the third quarter valued at approximately $30,000. Fortitude Family Office LLC increased its position in shares of Duke Energy by 69.6% in the 2nd quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 119 shares during the last quarter. Olistico Wealth LLC purchased a new stake in shares of Duke Energy during the 2nd quarter worth $30,000. Sachetta LLC grew its stake in shares of Duke Energy by 41.9% during the second quarter. Sachetta LLC now owns 325 shares of the utilities provider's stock worth $36,000 after purchasing an additional 96 shares in the last quarter. Finally, Reston Wealth Management LLC purchased a new position in Duke Energy in the third quarter valued at $38,000. Hedge funds and other institutional investors own 65.31% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on DUK shares. BMO Capital Markets upped their price objective on Duke Energy from $120.00 to $126.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. upped their price target on Duke Energy from $111.00 to $120.00 and gave the company a "neutral" rating in a report on Monday, August 12th. Bank of America raised 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. KeyCorp cut shares of Duke Energy from an "overweight" rating to a "sector weight" rating in a report on Tuesday, October 22nd. Finally, Evercore ISI lifted their price target on shares of Duke Energy from $108.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $121.69.

Duke Energy Stock Performance

Shares of NYSE DUK traded down $0.21 during midday trading on Friday, reaching $114.65. 1,335,590 shares of the company were exchanged, compared to its average volume of 3,066,927. The stock has a market cap of $88.56 billion, a P/E ratio of 21.16, a PEG ratio of 2.99 and a beta of 0.47. Duke Energy Co. has a 1 year low of $89.92 and a 1 year high of $121.25. The stock has a fifty day simple moving average of $115.19 and a 200 day simple moving average of $109.59. 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 released its 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). Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. The company had revenue of $8.16 billion during the quarter, compared to analyst estimates of $8.06 billion. During the same period in the previous year, the firm posted $1.94 EPS. The company's revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts forecast that Duke Energy Co. will post 5.97 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

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 paid a dividend of $1.045 per share. The ex-dividend date is Friday, November 15th. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.65%. Duke Energy's dividend payout ratio (DPR) is 76.84%.

About Duke Energy

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.