Norway Savings Bank Has $2.35 Million Stake in Duke Energy Co. (NYSE:DUK)

Norway Savings Bank raised its position in Duke Energy Co. (NYSE:DUKGet Rating) by 1.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 21,940 shares of the utilities provider’s stock after purchasing an additional 345 shares during the period. Duke Energy accounts for approximately 1.2% of Norway Savings Bank’s portfolio, making the stock its 23rd largest position. Norway Savings Bank’s holdings in Duke Energy were worth $2,353,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its stake in shares of Duke Energy by 8.5% in the 1st quarter. State Street Corp now owns 42,715,057 shares of the utilities provider’s stock valued at $4,769,563,000 after acquiring an additional 3,349,217 shares in the last quarter. Wellington Management Group LLP increased its stake in Duke Energy by 6.4% during the 1st quarter. Wellington Management Group LLP now owns 34,876,522 shares of the utilities provider’s stock valued at $3,894,312,000 after purchasing an additional 2,112,764 shares in the last quarter. Vanguard Group Inc. increased its stake in Duke Energy by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 68,521,533 shares of the utilities provider’s stock valued at $7,651,115,000 after purchasing an additional 1,782,973 shares in the last quarter. Ensign Peak Advisors Inc increased its stake in Duke Energy by 57.5% during the 1st quarter. Ensign Peak Advisors Inc now owns 2,551,115 shares of the utilities provider’s stock valued at $284,858,000 after purchasing an additional 931,177 shares in the last quarter. Finally, Reaves W H & Co. Inc. bought a new stake in Duke Energy during the 1st quarter valued at $80,223,000. Institutional investors and hedge funds own 63.76% of the company’s stock.

Insider Buying and Selling at Duke Energy

In other Duke Energy news, EVP Kodwo Ghartey-Tagoe sold 4,700 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $109.67, for a total transaction of $515,449.00. Following the sale, the executive vice president now directly owns 14,002 shares of the company’s stock, valued at $1,535,599.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Kodwo Ghartey-Tagoe sold 4,700 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $109.67, for a total transaction of $515,449.00. Following the sale, the executive vice president now directly owns 14,002 shares in the company, valued at $1,535,599.34. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Steven K. Young sold 415 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $107.75, for a total value of $44,716.25. Following the sale, the chief financial officer now owns 114,072 shares in the company, valued at $12,291,258. The disclosure for this sale can be found here. Insiders have sold a total of 7,819 shares of company stock valued at $856,533 over the last three months. 0.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Barclays decreased their price target on shares of Duke Energy from $119.00 to $110.00 in a research note on Monday, July 18th. UBS Group lowered shares of Duke Energy from a “buy” rating to a “neutral” rating and decreased their price target for the company from $122.00 to $112.00 in a research note on Thursday, June 30th. Credit Suisse Group lowered shares of Duke Energy from an “outperform” rating to a “neutral” rating and boosted their price target for the company from $112.00 to $114.00 in a research note on Friday, August 5th. KeyCorp cut their price objective on shares of Duke Energy from $121.00 to $116.00 and set an “overweight” rating on the stock in a report on Tuesday, July 19th. Finally, Morgan Stanley cut their price objective on shares of Duke Energy from $123.00 to $121.00 and set an “equal weight” rating on the stock in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Duke Energy has a consensus rating of “Hold” and a consensus price target of $112.90.

Duke Energy Stock Performance

Shares of NYSE:DUK traded down $0.97 during midday trading on Friday, reaching $103.71. The company had a trading volume of 2,278,547 shares, compared to its average volume of 2,772,556. The company’s 50 day moving average price is $108.48 and its 200 day moving average price is $108.91. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 1.27. The stock has a market cap of $79.85 billion, a P/E ratio of 20.93, a P/E/G ratio of 3.14 and a beta of 0.35. Duke Energy Co. has a 52-week low of $95.48 and a 52-week high of $116.33.

Duke Energy (NYSE:DUKGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The utilities provider reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.04). The company had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $5.79 billion. Duke Energy had a return on equity of 8.42% and a net margin of 14.50%. Duke Energy’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the firm posted $1.15 earnings per share. As a group, sell-side analysts anticipate that Duke Energy Co. will post 5.45 EPS for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, August 12th were issued a dividend of $1.005 per share. The ex-dividend date was Thursday, August 11th. This is an increase from Duke Energy’s previous quarterly dividend of $0.99. This represents a $4.02 annualized dividend and a yield of 3.88%. Duke Energy’s dividend payout ratio is 81.38%.

Duke Energy Profile

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Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; and uses coal, hydroelectric, natural gas, oil, renewable generation, and nuclear fuel to generate electricity.

Further Reading

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Institutional Ownership by Quarter for Duke Energy (NYSE:DUK)

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