Commerce Bank Boosts Stake in Duke Energy Co. (NYSE:DUK)

Commerce Bank boosted its stake in shares of Duke Energy Co. (NYSE:DUK) by 5.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 269,217 shares of the utilities provider’s stock after buying an additional 15,069 shares during the period. Commerce Bank’s holdings in Duke Energy were worth $31,041,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DUK. PBMares Wealth Management LLC boosted its holdings in Duke Energy by 1.8% in the 3rd quarter. PBMares Wealth Management LLC now owns 4,886 shares of the utilities provider’s stock worth $563,000 after buying an additional 86 shares during the last quarter. Pinnacle West Asset Management Inc. grew its stake in shares of Duke Energy by 2.1% in the second quarter. Pinnacle West Asset Management Inc. now owns 4,425 shares of the utilities provider’s stock worth $444,000 after acquiring an additional 90 shares in the last quarter. Castleview Partners LLC grew its stake in shares of Duke Energy by 4.9% during the third quarter. Castleview Partners LLC now owns 1,944 shares of the utilities provider’s stock worth $224,000 after purchasing an additional 90 shares in the last quarter. Kanawha Capital Management LLC grew its stake in shares of Duke Energy by 1.4% during the third quarter. Kanawha Capital Management LLC now owns 6,591 shares of the utilities provider’s stock worth $760,000 after purchasing an additional 92 shares in the last quarter. Finally, Baron Wealth Management LLC grew its stake in shares of Duke Energy by 3.5% during the third quarter. Baron Wealth Management LLC now owns 2,730 shares of the utilities provider’s stock worth $315,000 after purchasing an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Up 0.2 %

DUK stock opened at $113.78 on Thursday. Duke Energy Co. has a 52 week low of $88.73 and a 52 week high of $121.25. The company has a market capitalization of $87.89 billion, a price-to-earnings ratio of 20.92, a price-to-earnings-growth ratio of 2.96 and a beta of 0.47. The firm’s 50-day moving average is $115.21 and its two-hundred day moving average is $109.56. 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) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.11). The firm had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Duke Energy had a return on equity of 9.34% and a net margin of 14.31%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the business earned $1.94 earnings per share. On average, 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 disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $1.045 per share. This represents a $4.18 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Friday, November 15th. Duke Energy’s dividend payout ratio is currently 76.84%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $135.00 price target on shares of Duke Energy in a research report on Thursday, August 29th. The Goldman Sachs Group boosted their price target on shares of Duke Energy from $102.00 to $113.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Barclays boosted their price target on shares of Duke Energy from $102.00 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Scotiabank boosted their price target on shares of Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley upped their target price on shares of Duke Energy from $114.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Duke Energy currently has an average rating of “Moderate Buy” and a consensus price target of $121.85.

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.