Amalgamated Bank Trims Stock Holdings in Duke Energy Co. (NYSE:DUK)

Amalgamated Bank reduced its position in shares of Duke Energy Co. (NYSE:DUK) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,678 shares of the utilities provider’s stock after selling 1,216 shares during the period. Amalgamated Bank’s holdings in Duke Energy were worth $17,834,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DUK. Duality Advisers LP lifted its holdings in shares of Duke Energy by 57.8% during the 1st quarter. Duality Advisers LP now owns 27,071 shares of the utilities provider’s stock worth $2,618,000 after acquiring an additional 9,917 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in Duke Energy by 63.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 44,710 shares of the utilities provider’s stock valued at $4,324,000 after purchasing an additional 17,420 shares during the last quarter. Janus Henderson Group PLC lifted its position in Duke Energy by 9.4% in the first quarter. Janus Henderson Group PLC now owns 108,819 shares of the utilities provider’s stock valued at $10,520,000 after purchasing an additional 9,334 shares during the last quarter. Goodman Advisory Group LLC bought a new stake in Duke Energy in the second quarter valued at approximately $2,888,000. Finally, Jupiter Asset Management Ltd. bought a new stake in Duke Energy in the first quarter valued at approximately $1,396,000. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Trading Down 0.1 %

Duke Energy stock opened at $112.52 on Tuesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.81 and a quick ratio of 0.53. Duke Energy Co. has a one year low of $86.61 and a one year high of $121.25. The stock has a market capitalization of $86.89 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 3.08 and a beta of 0.47. The business’s fifty day moving average is $115.83 and its 200 day moving average is $108.46.

Duke Energy (NYSE:DUK) last announced its earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.16. The business had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $6.84 billion. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $0.91 earnings per share. On average, sell-side analysts predict that Duke Energy Co. will post 5.98 EPS for the current year.

Duke Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $1.045 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.18 annualized dividend and a yield of 3.71%. Duke Energy’s payout ratio is 76.98%.

Insiders Place Their Bets

In other Duke Energy news, EVP Louis E. Renjel sold 540 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $113.64, for a total value of $61,365.60. Following the transaction, the executive vice president now directly owns 19,884 shares of the company’s stock, valued at approximately $2,259,617.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

DUK has been the subject of several recent research reports. Evercore ISI boosted their price objective on Duke Energy from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Bank of America upped their target price on Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Jefferies Financial Group began coverage on Duke Energy in a report on Thursday, September 19th. They set a “buy” rating and a $138.00 target price for the company. Scotiabank increased their price objective on Duke Energy from $104.00 to $113.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Finally, The Goldman Sachs Group increased their price objective on Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Duke Energy has a consensus rating of “Moderate Buy” and an average target price of $121.85.

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.