Birmingham Capital Management Co. Inc. AL Sells 350 Shares of Duke Energy Co. (NYSE:DUK)

Birmingham Capital Management Co. Inc. AL lessened its holdings in shares of Duke Energy Co. (NYSE:DUK) by 1.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 30,427 shares of the utilities provider’s stock after selling 350 shares during the period. Duke Energy makes up approximately 1.3% of Birmingham Capital Management Co. Inc. AL’s holdings, making the stock its 25th largest position. Birmingham Capital Management Co. Inc. AL’s holdings in Duke Energy were worth $3,508,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in DUK. Old North State Trust LLC boosted its position in shares of Duke Energy by 0.6% in the third quarter. Old North State Trust LLC now owns 27,125 shares of the utilities provider’s stock valued at $3,128,000 after acquiring an additional 169 shares during the period. Tidal Investments LLC raised its stake in Duke Energy by 3.0% during the 3rd quarter. Tidal Investments LLC now owns 24,787 shares of the utilities provider’s stock valued at $2,858,000 after purchasing an additional 719 shares during the last quarter. Blankinship & Foster LLC bought a new stake in Duke Energy in the 3rd quarter valued at $4,695,000. Destination Wealth Management grew its position in Duke Energy by 27.9% in the 3rd quarter. Destination Wealth Management now owns 4,895 shares of the utilities provider’s stock worth $564,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB increased its holdings in shares of Duke Energy by 250.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 31,260 shares of the utilities provider’s stock worth $3,604,000 after purchasing an additional 22,332 shares during the period. Institutional investors own 65.31% of the company’s stock.

Duke Energy Price Performance

NYSE DUK traded up $0.33 during trading hours on Friday, reaching $109.49. 710,547 shares of the company’s stock were exchanged, compared to its average volume of 3,044,749. The firm has a fifty day moving average of $114.49 and a 200-day moving average of $110.75. The company has a current ratio of 0.70, a quick ratio of 0.45 and a debt-to-equity ratio of 1.55. Duke Energy Co. has a one year low of $90.09 and a one year high of $121.25. The stock has a market cap of $84.58 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 2.90 and a beta of 0.47.

Duke Energy (NYSE:DUK) last announced its earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11). Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. The business had revenue of $8.16 billion during the quarter, compared to analyst estimates of $8.06 billion. During the same quarter last year, the business posted $1.94 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts predict that Duke Energy Co. will post 5.95 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Friday, November 15th. Duke Energy’s dividend payout ratio is currently 76.84%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. BMO Capital Markets lifted their target price on Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Jefferies Financial Group assumed coverage on Duke Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $138.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $135.00 target price on shares of Duke Energy in a research report on Thursday, August 29th. Morgan Stanley lowered their price target on shares of Duke Energy from $122.00 to $118.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Finally, Scotiabank raised their price objective on shares of Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a report on Thursday. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $122.23.

Duke Energy Company Profile

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.