Duke Energy Corporation $DUK Holdings Lowered by Iowa State Bank

Iowa State Bank decreased its position in shares of Duke Energy Corporation (NYSE:DUK) by 10.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 38,090 shares of the utilities provider’s stock after selling 4,411 shares during the quarter. Iowa State Bank’s holdings in Duke Energy were worth $4,343,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DUK. Merit Financial Group LLC raised its stake in shares of Duke Energy by 15.7% during the 2nd quarter. Merit Financial Group LLC now owns 70,388 shares of the utilities provider’s stock valued at $8,910,000 after purchasing an additional 9,562 shares during the period. Sarasin & Partners LLP boosted its stake in Duke Energy by 15.3% in the 2nd quarter. Sarasin & Partners LLP now owns 1,283,213 shares of the utilities provider’s stock worth $162,429,000 after purchasing an additional 170,700 shares during the period. Pinebridge Investments LLC purchased a new position in Duke Energy during the 4th quarter valued at about $6,326,000. Rakuten Investment Management Inc. increased its position in shares of Duke Energy by 532.0% during the fourth quarter. Rakuten Investment Management Inc. now owns 102,299 shares of the utilities provider’s stock valued at $12,022,000 after buying an additional 86,113 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Duke Energy by 13.1% in the fourth quarter. Franklin Resources Inc. now owns 8,236,893 shares of the utilities provider’s stock worth $965,446,000 after buying an additional 954,907 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors.

Duke Energy Price Performance

Shares of NYSE DUK traded up $0.84 during mid-day trading on Tuesday, reaching $114.68. 1,741,599 shares of the company were exchanged, compared to its average volume of 3,995,320. Duke Energy Corporation has a 52 week low of $112.40 and a 52 week high of $134.49. The company’s 50 day moving average price is $120.36 and its 200 day moving average price is $124.44. The stock has a market capitalization of $89.42 billion, a PE ratio of 17.22, a PEG ratio of 2.66 and a beta of 0.36. The company has a quick ratio of 0.43, a current ratio of 0.66 and a debt-to-equity ratio of 1.47.

Duke Energy (NYSE:DUK) last released its earnings results on Monday, August 3rd. The utilities provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.13. Duke Energy had a return on equity of 9.78% and a net margin of 15.78%.The business had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter in the prior year, the firm earned $1.25 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. Sell-side analysts forecast that Duke Energy Corporation will post 6.72 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 Wednesday, December 16th. Investors of record on Friday, November 13th will be issued a dividend of $1.0850 per share. This represents a $4.34 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, November 13th. Duke Energy’s dividend payout ratio (DPR) is currently 65.17%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays reduced their price objective on shares of Duke Energy from $140.00 to $132.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Duke Energy in a report on Friday, July 31st. JPMorgan Chase & Co. increased their price objective on Duke Energy from $136.00 to $141.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. BMO Capital Markets reduced their target price on Duke Energy from $134.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, August 5th. Finally, Scotiabank decreased their target price on Duke Energy from $146.00 to $131.00 in a research note on Wednesday, September 30th. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $136.62.

About Duke Energy

Duke Energy Corporation (NYSE: DUK) is an energy holding company that operates regulated electric and natural gas utilities in the United States. Its electric utilities generate, transmit, distribute and sell electricity to residential, commercial, industrial and other customers.

The company serves customers across the Carolinas, Florida, Indiana, Ohio and Kentucky. Duke Energy also operates natural gas utilities and related infrastructure in several states, including North Carolina, South Carolina, Ohio, Kentucky and Tennessee.