Maple Brown Abbott Ltd Trims Stock Position in Duke Energy Co. (NYSE:DUK)

Maple Brown Abbott Ltd reduced its stake in shares of Duke Energy Co. (NYSE:DUK - Free Report) by 18.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 586,480 shares of the utilities provider's stock after selling 130,640 shares during the quarter. Duke Energy accounts for 6.7% of Maple Brown Abbott Ltd's holdings, making the stock its 9th biggest holding. Maple Brown Abbott Ltd owned approximately 0.08% of Duke Energy worth $67,621,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Northwest Investment Counselors LLC acquired a new position in shares of Duke Energy during the 1st quarter worth $25,000. Fortitude Family Office LLC lifted its stake 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 acquiring an additional 119 shares during the last quarter. Riverview Trust Co bought a new stake in Duke Energy during the 1st quarter worth $30,000. Olistico Wealth LLC bought a new position in Duke Energy in the second quarter valued at about $30,000. Finally, Cedar Wealth Management LLC boosted its stake in shares of Duke Energy by 101.2% during the first quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider's stock valued at $32,000 after purchasing an additional 169 shares in the last quarter. Institutional investors own 65.31% of the company's stock.

Duke Energy Stock Down 0.8 %

DUK stock traded down $0.92 during trading on Thursday, reaching $115.76. The stock had a trading volume of 3,841,355 shares, compared to its average volume of 2,989,356. Duke Energy Co. has a one year low of $83.06 and a one year high of $118.31. The company's 50 day moving average is $113.99 and its two-hundred day moving average is $105.08. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $89.34 billion, a price-to-earnings ratio of 29.24, a P/E/G ratio of 3.22 and a beta of 0.46.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.16. The business had revenue of $7.17 billion for the quarter, compared to analyst estimates of $6.84 billion. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. Duke Energy's quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. Equities research analysts forecast that Duke Energy Co. will post 5.97 EPS for the current year.

Duke Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were given a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Friday, August 16th. This is a boost from Duke Energy's previous quarterly dividend of $1.03. Duke Energy's dividend payout ratio is currently 105.03%.

Insider Transactions at Duke Energy

In other news, EVP Louis E. Renjel sold 540 shares of the business's stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $113.64, for a total value of $61,365.60. Following the sale, the executive vice president now owns 19,884 shares of the company's stock, valued at $2,259,617.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DUK shares. Bank of America raised their price target on shares of Duke Energy from $116.00 to $118.00 and gave the company a "neutral" rating in a research note on Thursday, August 29th. BMO Capital Markets upped their price target on Duke Energy from $120.00 to $126.00 and gave the company an "outperform" rating in a research report on Wednesday, September 18th. Evercore ISI raised their price objective on Duke Energy from $108.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 7th. The Goldman Sachs Group upped their price objective on shares of Duke Energy from $102.00 to $113.00 and gave the company a "neutral" rating in a research note on Monday, August 12th. Finally, Scotiabank lifted their target price on shares of Duke Energy from $104.00 to $113.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 20th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $118.21.

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.