MAI Capital Management Trims Stock Holdings in Duke Energy Co. (NYSE:DUK)

MAI Capital Management trimmed its holdings in Duke Energy Co. (NYSE:DUK) by 21.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 23,980 shares of the utilities provider’s stock after selling 6,415 shares during the period. MAI Capital Management’s holdings in Duke Energy were worth $2,765,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital Research Global Investors raised its position in Duke Energy by 3.2% during the 1st quarter. Capital Research Global Investors now owns 11,493,340 shares of the utilities provider’s stock valued at $1,111,521,000 after purchasing an additional 352,320 shares in the last quarter. Pathway Financial Advisers LLC raised its holdings in shares of Duke Energy by 11,471.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 6,777,973 shares of the utilities provider’s stock valued at $781,500,000 after purchasing an additional 6,719,398 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Duke Energy by 1.7% during the second quarter. Envestnet Asset Management Inc. now owns 2,471,035 shares of the utilities provider’s stock valued at $247,672,000 after purchasing an additional 40,243 shares in the last quarter. Swiss National Bank increased its holdings in Duke Energy by 0.3% during the third quarter. Swiss National Bank now owns 2,290,641 shares of the utilities provider’s stock valued at $264,111,000 after buying an additional 6,500 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in Duke Energy by 65.7% during the second quarter. Mackenzie Financial Corp now owns 2,052,969 shares of the utilities provider’s stock valued at $205,769,000 after buying an additional 813,744 shares during the period. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Stock Up 0.0 %

DUK stock opened at $113.59 on Wednesday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.45 and a current ratio of 0.70. Duke Energy Co. has a one year low of $88.27 and a one year high of $121.25. The company has a fifty day moving average of $115.26 and a 200-day moving average of $109.53. The stock has a market capitalization of $87.75 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 2.96 and a beta of 0.47.

Duke Energy (NYSE:DUK) last announced 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). The business had revenue of $8.16 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm posted $1.94 EPS. As a group, analysts expect that Duke Energy Co. will post 5.97 EPS for the current year.

Duke Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $1.045 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.18 dividend on an annualized basis and a yield of 3.68%. Duke Energy’s payout ratio is 76.84%.

Wall Street Analysts Forecast Growth

DUK has been the topic of several research reports. KeyCorp lowered shares of Duke Energy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 22nd. BMO Capital Markets boosted their price objective on shares of Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Morgan Stanley boosted their price objective 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. Royal Bank of Canada restated an “outperform” rating and set a $135.00 target price on shares of Duke Energy in a research report on Thursday, August 29th. Finally, Bank of America boosted their target price on shares of Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Duke Energy presently has a consensus rating of “Moderate Buy” and an average price target of $121.85.

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.