Farmers Trust Co. Sells 10,981 Shares of Duke Energy Corporation $DUK

by · The Cerbat Gem

Farmers Trust Co. lessened its stake in Duke Energy Corporation (NYSE:DUKFree Report) by 21.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 40,974 shares of the utilities provider’s stock after selling 10,981 shares during the quarter. Farmers Trust Co.’s holdings in Duke Energy were worth $5,071,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DUK. Laurel Wealth Advisors LLC raised its holdings in Duke Energy by 11,417.7% in the second quarter. Laurel Wealth Advisors LLC now owns 17,668,789 shares of the utilities provider’s stock worth $2,084,917,000 after buying an additional 17,515,383 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Duke Energy by 1.5% during the second quarter. Vanguard Group Inc. now owns 75,716,783 shares of the utilities provider’s stock valued at $8,934,580,000 after acquiring an additional 1,154,783 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Duke Energy by 359.1% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,132,613 shares of the utilities provider’s stock worth $138,145,000 after acquiring an additional 885,900 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its position in Duke Energy by 2,682.0% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 895,647 shares of the utilities provider’s stock valued at $109,242,000 after acquiring an additional 863,453 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI boosted its stake in Duke Energy by 131.9% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 1,055,482 shares of the utilities provider’s stock valued at $128,737,000 after purchasing an additional 600,271 shares during the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Robert Alexander Glenn sold 8,200 shares of the company’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $123.80, for a total value of $1,015,160.00. Following the completion of the sale, the executive vice president directly owned 11,367 shares in the company, valued at $1,407,234.60. This represents a 41.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.14% of the stock is currently owned by insiders.

Duke Energy Trading Up 0.7%

Duke Energy stock opened at $115.21 on Monday. Duke Energy Corporation has a 52-week low of $105.20 and a 52-week high of $130.03. The company has a market cap of $89.60 billion, a P/E ratio of 18.12, a P/E/G ratio of 2.66 and a beta of 0.49. The company has a quick ratio of 0.40, a current ratio of 0.63 and a debt-to-equity ratio of 1.54. The business has a 50-day simple moving average of $123.37 and a two-hundred day simple moving average of $121.23.

Duke Energy (NYSE:DUKGet Free Report) last issued its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.06. The firm had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.51 billion. Duke Energy had a net margin of 15.76% and a return on equity of 9.98%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.62 EPS. Analysts predict that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be paid a dividend of $1.065 per share. This represents a $4.26 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, November 14th. Duke Energy’s dividend payout ratio (DPR) is currently 66.98%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on DUK shares. Mizuho boosted their price target on Duke Energy from $132.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Wells Fargo & Company raised Duke Energy to a “hold” rating in a research report on Tuesday, October 28th. Morgan Stanley restated an “underperform” rating on shares of Duke Energy in a research note on Thursday, November 20th. Barclays lifted their price target on shares of Duke Energy from $131.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Finally, Cowen began coverage on shares of Duke Energy in a research report on Wednesday, October 15th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Duke Energy has an average rating of “Moderate Buy” and a consensus target price of $137.06.

View Our Latest Analysis on DUK

About Duke Energy

(Free Report)

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.

See Also

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