Citizens Business Bank Reduces Position in Duke Energy Co. (NYSE:DUK)

Citizens Business Bank lowered its position in Duke Energy Co. (NYSE:DUK) by 25.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 4,413 shares of the utilities provider’s stock after selling 1,508 shares during the period. Citizens Business Bank’s holdings in Duke Energy were worth $509,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in Duke Energy in the 3rd quarter valued at $29,000. Northwest Investment Counselors LLC purchased a new stake in shares of Duke Energy in the third quarter valued at about $30,000. Sachetta LLC boosted its stake in shares of Duke Energy by 41.9% during the second quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock worth $36,000 after buying an additional 96 shares during the period. Reston Wealth Management LLC acquired a new position in Duke Energy in the 3rd quarter valued at about $38,000. Finally, Catalyst Capital Advisors LLC raised its stake in Duke Energy by 100.0% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 334 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 167 shares during the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.

Duke Energy Trading Down 0.6 %

NYSE:DUK opened at $111.14 on Wednesday. The company has a market capitalization of $85.85 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.97 and a beta of 0.47. Duke Energy Co. has a 52-week low of $90.09 and a 52-week high of $121.25. The stock has a fifty day simple moving average of $114.86 and a 200-day simple moving average of $110.71. The company has a quick ratio of 0.45, a current ratio of 0.70 and a debt-to-equity ratio of 1.55.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.11). Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. The business had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.06 billion. During the same period last year, the company earned $1.94 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts expect that Duke Energy Co. will post 5.95 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $1.045 per share. This represents a $4.18 annualized dividend and a yield of 3.76%. The ex-dividend date is Friday, November 15th. Duke Energy’s payout ratio is 76.84%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DUK shares. Morgan Stanley lowered their target price on Duke Energy from $122.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Barclays upped their price objective on shares of Duke Energy from $102.00 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. BMO Capital Markets lifted their target price 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. Mizuho upgraded shares of Duke Energy from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $116.00 to $121.00 in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group began coverage on Duke Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $138.00 target price on the stock. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.69.

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.