Duke Energy Co. (NYSE:DUK) Shares Sold by Comerica Bank

Comerica Bank lowered its stake in Duke Energy Co. (NYSE:DUK) by 3.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 284,938 shares of the utilities provider’s stock after selling 10,974 shares during the quarter. Comerica Bank’s holdings in Duke Energy were worth $27,556,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of DUK. Northwest Investment Counselors LLC bought a new stake in shares of Duke Energy in the first quarter worth $25,000. Altshuler Shaham Ltd bought a new position in Duke Energy in the fourth quarter worth about $26,000. Private Wealth Management Group LLC acquired a new position in Duke Energy in the fourth quarter valued at approximately $26,000. Riverview Trust Co acquired a new position in Duke Energy in the first quarter valued at approximately $30,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in Duke Energy in the fourth quarter valued at approximately $31,000. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Duke Energy

In other news, Director E Marie Mckee sold 1,695 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $102.31, for a total value of $173,415.45. Following the sale, the director now owns 4 shares of the company’s stock, valued at $409.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Julia S. Janson sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $102.79, for a total value of $1,027,900.00. Following the transaction, the executive vice president now owns 68,657 shares of the company’s stock, valued at $7,057,253.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director E Marie Mckee sold 1,695 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $102.31, for a total value of $173,415.45. Following the completion of the sale, the director now owns 4 shares of the company’s stock, valued at $409.24. The disclosure for this sale can be found here. Insiders sold 26,695 shares of company stock valued at $2,750,815 over the last quarter. Corporate insiders own 0.10% of the company’s stock.

Duke Energy Price Performance

Shares of Duke Energy stock traded up $2.28 during midday trading on Thursday, hitting $111.55. 1,285,836 shares of the company were exchanged, compared to its average volume of 2,896,424. The firm has a 50 day simple moving average of $103.12 and a 200-day simple moving average of $98.63. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.78 and a quick ratio of 0.50. Duke Energy Co. has a 52 week low of $83.06 and a 52 week high of $111.55. The firm has a market cap of $86.09 billion, a P/E ratio of 27.93, a PEG ratio of 3.02 and a beta of 0.45.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.05. The firm had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $7.31 billion. Duke Energy had a net margin of 10.78% and a return on equity of 9.25%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.20 EPS. Research analysts forecast that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be issued a dividend of $1.045 per share. This is an increase from Duke Energy’s previous quarterly dividend of $1.03. This represents a $4.18 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Friday, August 16th. Duke Energy’s dividend payout ratio (DPR) is 103.02%.

Analyst Upgrades and Downgrades

DUK has been the subject of a number of research reports. Morgan Stanley decreased their target price on Duke Energy from $103.00 to $98.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. Scotiabank lowered their price target on Duke Energy from $101.00 to $94.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Bank of America lifted their target price on Duke Energy from $96.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Barclays raised their price objective on Duke Energy from $99.00 to $102.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Finally, BMO Capital Markets decreased their target price on shares of Duke Energy from $110.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, July 11th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Duke Energy presently has an average rating of “Moderate Buy” and an average price target of $102.58.

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.