Chemung Canal Trust Co. Has $3.73 Million Position in Duke Energy Corporation (NYSE:DUK)

Chemung Canal Trust Co. raised its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 114.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,581 shares of the utilities provider's stock after purchasing an additional 16,321 shares during the quarter. Chemung Canal Trust Co.'s holdings in Duke Energy were worth $3,730,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in DUK. Dogwood Wealth Management LLC bought a new stake in Duke Energy during the 1st quarter worth $729,000. Greenleaf Trust raised its stake in shares of Duke Energy by 2.4% in the first quarter. Greenleaf Trust now owns 19,184 shares of the utilities provider's stock worth $2,340,000 after purchasing an additional 458 shares during the last quarter. Trek Financial LLC purchased a new stake in shares of Duke Energy during the first quarter valued at approximately $227,000. AlphaStar Capital Management LLC grew its holdings in Duke Energy by 7.2% during the first quarter. AlphaStar Capital Management LLC now owns 42,808 shares of the utilities provider's stock valued at $5,221,000 after purchasing an additional 2,861 shares during the period. Finally, CapWealth Advisors LLC boosted its holdings in shares of Duke Energy by 2.8% in the first quarter. CapWealth Advisors LLC now owns 193,298 shares of the utilities provider's stock worth $23,577,000 after acquiring an additional 5,260 shares during the period. 65.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DUK has been the topic of several analyst reports. BMO Capital Markets decreased their price objective on Duke Energy from $128.00 to $123.00 and set an "outperform" rating on the stock in a report on Thursday, April 10th. Citigroup boosted their price target on Duke Energy from $130.00 to $142.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. UBS Group reaffirmed a "neutral" rating and issued a $127.00 price objective (up from $126.00) on shares of Duke Energy in a research report on Monday, June 2nd. Barclays cut their target price on shares of Duke Energy from $123.00 to $122.00 and set an "overweight" rating for the company in a research report on Tuesday, July 1st. Finally, Wells Fargo & Company boosted their target price on shares of Duke Energy from $127.00 to $138.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Duke Energy has a consensus rating of "Moderate Buy" and a consensus target price of $126.88.

Duke Energy Stock Down 0.8%

Shares of Duke Energy stock opened at $116.33 on Wednesday. The company has a fifty day moving average price of $117.04 and a 200 day moving average price of $115.56. The company has a current ratio of 0.77, a quick ratio of 0.50 and a debt-to-equity ratio of 1.57. Duke Energy Corporation has a twelve month low of $100.30 and a twelve month high of $125.27. The stock has a market cap of $90.42 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 2.93 and a beta of 0.37.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share for the quarter, beating analysts' consensus estimates of $1.59 by $0.17. Duke Energy had a return on equity of 9.88% and a net margin of 15.40%. The firm had revenue of $8.25 billion during the quarter, compared to analyst estimates of $7.70 billion. During the same quarter last year, the firm earned $1.44 EPS. Duke Energy's quarterly revenue was up 7.5% on a year-over-year basis. Equities research analysts forecast that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 16th were paid a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Friday, May 16th. Duke Energy's payout ratio is currently 69.32%.

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.

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