CNB Bank Invests $663,000 in Duke Energy Corp (DUK) Stock
CNB Bank bought a new stake in Duke Energy Corp (NYSE:DUK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,889 shares of the utilities provider’s stock, valued at approximately $663,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Renaissance Technologies LLC grew its holdings in Duke Energy by 69.3% in the 4th quarter. Renaissance Technologies LLC now owns 4,302,017 shares of the utilities provider’s stock valued at $361,843,000 after buying an additional 1,760,350 shares during the period. Two Sigma Advisers LP grew its holdings in Duke Energy by 735.4% in the 4th quarter. Two Sigma Advisers LP now owns 1,660,141 shares of the utilities provider’s stock valued at $139,634,000 after buying an additional 1,461,422 shares during the period. BlackRock Inc. grew its holdings in Duke Energy by 0.9% in the 4th quarter. BlackRock Inc. now owns 45,499,220 shares of the utilities provider’s stock valued at $3,826,940,000 after buying an additional 424,604 shares during the period. Mackenzie Financial Corp purchased a new stake in Duke Energy in the 4th quarter valued at about $32,957,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Duke Energy by 3,030.3% during the 3rd quarter. Victory Capital Management Inc. now owns 377,579 shares of the utilities provider’s stock worth $31,686,000 after purchasing an additional 365,517 shares during the period. 56.98% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on DUK. Zacks Investment Research upgraded Duke Energy from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. Morgan Stanley boosted their target price on Duke Energy from $95.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 13th. ValuEngine cut Duke Energy from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. SunTrust Banks reiterated a “hold” rating and set a $83.00 target price on shares of Duke Energy in a report on Tuesday, December 26th. Finally, Guggenheim reiterated a “buy” rating and set a $96.00 target price on shares of Duke Energy in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $86.53.
Duke Energy stock opened at $76.18 on Thursday. The firm has a market capitalization of $53,508.08, a P/E ratio of 17.47, a price-to-earnings-growth ratio of 4.40 and a beta of 0.15. Duke Energy Corp has a fifty-two week low of $72.93 and a fifty-two week high of $91.80. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.68 and a quick ratio of 0.42.
Duke Energy (NYSE:DUK) last released its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.03. The firm had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $6.09 billion. Duke Energy had a return on equity of 7.72% and a net margin of 12.95%. Duke Energy’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 EPS. equities analysts forecast that Duke Energy Corp will post 4.7 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, February 16th were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend was Thursday, February 15th. Duke Energy’s dividend payout ratio is presently 81.65%.
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About Duke Energy
Duke Energy Corporation (Duke Energy) is an energy company. The Company operates through three segments: Electric Utilities and Infrastructure; Gas Utilities and Infrastructure, and Commercial Renewables. The Company operates in the United States through its direct and indirect subsidiaries. The Electric Utilities and Infrastructure segment provides retail electric service through the generation, transmission, distribution and sale of electricity to approximately 7.5 million customers within the Southeast and Midwest regions of the United States.
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