Cadence Bank NA Sells 629 Shares of Duke Energy Corp (DUK)

Cadence Bank NA reduced its position in shares of Duke Energy Corp (NYSE:DUK) by 5.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,122 shares of the utilities provider’s stock after selling 629 shares during the period. Cadence Bank NA’s holdings in Duke Energy were worth $810,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of DUK. DnB Asset Management AS boosted its position in shares of Duke Energy by 2.2% during the second quarter. DnB Asset Management AS now owns 37,400 shares of the utilities provider’s stock worth $2,958,000 after buying an additional 800 shares during the period. Trust Co. of Vermont boosted its position in shares of Duke Energy by 6.7% during the second quarter. Trust Co. of Vermont now owns 17,298 shares of the utilities provider’s stock worth $1,368,000 after buying an additional 1,085 shares during the period. Ledyard National Bank boosted its position in shares of Duke Energy by 16.7% during the second quarter. Ledyard National Bank now owns 58,982 shares of the utilities provider’s stock worth $4,664,000 after buying an additional 8,462 shares during the period. Xact Kapitalforvaltning AB boosted its position in shares of Duke Energy by 3.7% during the second quarter. Xact Kapitalforvaltning AB now owns 74,405 shares of the utilities provider’s stock worth $5,884,000 after buying an additional 2,630 shares during the period. Finally, Bremer Trust National Association boosted its position in shares of Duke Energy by 109.8% during the second quarter. Bremer Trust National Association now owns 12,132 shares of the utilities provider’s stock worth $959,000 after buying an additional 6,349 shares during the period. 58.85% of the stock is owned by institutional investors.

In other news, COO Dhiaa M. Jamil sold 4,279 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $81.54, for a total value of $348,909.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.07% of the company’s stock.

Several research analysts have recently weighed in on the company. Wells Fargo & Co reduced their price objective on Duke Energy from $89.00 to $88.00 and set a “market perform” rating for the company in a research report on Monday. Zacks Investment Research cut Duke Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. Morgan Stanley upped their price objective on Duke Energy from $86.00 to $91.00 and gave the stock a “hold” rating in a research report on Tuesday, September 11th. Guggenheim reissued a “buy” rating and set a $86.00 price target on shares of Duke Energy in a research report on Friday, August 17th. Finally, Citigroup raised Duke Energy from a “sell” rating to a “neutral” rating and set a $77.00 price target for the company in a research report on Friday, July 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $84.00.

Shares of NYSE DUK opened at $84.33 on Friday. Duke Energy Corp has a 52 week low of $71.96 and a 52 week high of $91.80. The company has a quick ratio of 0.41, a current ratio of 0.68 and a debt-to-equity ratio of 1.17. The company has a market cap of $60.12 billion, a P/E ratio of 18.45, a P/E/G ratio of 3.54 and a beta of -0.06.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Friday, November 2nd. The utilities provider reported $1.65 EPS for the quarter, beating the consensus estimate of $1.53 by $0.12. Duke Energy had a return on equity of 8.02% and a net margin of 11.98%. The firm had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $6.59 billion. During the same period in the prior year, the firm posted $1.59 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Duke Energy Corp will post 4.74 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 16th will be given a $0.9275 dividend. The ex-dividend date is Thursday, November 15th. This represents a $3.71 dividend on an annualized basis and a dividend yield of 4.40%. Duke Energy’s payout ratio is 81.18%.

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Duke Energy Company Profile

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; uses coal, hydroelectric, natural gas, oil, renewable sources, and nuclear fuel to generate electricity; and engages in the wholesale of electricity to municipalities, electric cooperative utilities, and other load-serving entities.

Further Reading: Understanding each part of a balance sheet

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

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