Comerica Bank Cuts Holdings in Duke Energy Corporation $DUK

Key Points

• Comerica Bank trimmed its stake in Duke Energy by 3.4%, selling 8,648 shares and leaving 243,139 shares valued at about $28.5 million at quarter end.
• Duke Energy posted a slight quarterly earnings beat ($1.50 vs. $1.49) and analysts hold a "Moderate Buy" consensus with an average price target of $140.25.
• Insider selling has occurred recently: SVP Regis T. Repko sold 962 shares and CEO Louis E. Renjel sold 6,800 shares, reducing their holdings by roughly 19.8% and 23.6%, respectively.

Comerica Bank lessened its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,139 shares of the utilities provider's stock after selling 8,648 shares during the period. Comerica Bank's holdings in Duke Energy were worth $28,498,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dorato Capital Management purchased a new stake in shares of Duke Energy in the 4th quarter valued at $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Duke Energy in the 3rd quarter valued at $27,000. Lodestone Wealth Management LLC purchased a new stake in shares of Duke Energy in the 4th quarter valued at $30,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Duke Energy by 300.0% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 280 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 210 shares in the last quarter. Finally, Wiser Advisor Group LLC purchased a new stake in shares of Duke Energy in the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 65.31% of the company's stock.

Duke Energy Trading Down 0.1%

NYSE:DUK opened at $127.14 on Tuesday. The company has a fifty day moving average of $129.71 and a 200 day moving average of $124.23. Duke Energy Corporation has a 52 week low of $111.22 and a 52 week high of $134.49. The company has a quick ratio of 0.33, a current ratio of 0.55 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $98.93 billion, a P/E ratio of 20.12 and a beta of 0.46.

Duke Energy (NYSE:DUK - Get Free Report) last posted its quarterly earnings results on Monday, February 9th. The utilities provider reported $1.50 EPS for the quarter, beating analysts' consensus estimates of $1.49 by $0.01. Duke Energy had a net margin of 15.41% and a return on equity of 9.66%. The company had revenue of $7.94 billion during the quarter, compared to analyst estimates of $7.57 billion. During the same period in the prior year, the business posted $1.66 EPS. On average, research analysts predict that Duke Energy Corporation will post 6.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on DUK shares. Royal Bank Of Canada cut their price objective on shares of Duke Energy from $143.00 to $140.00 and set a "sector perform" rating for the company in a research note on Friday, January 23rd. BMO Capital Markets cut their price objective on shares of Duke Energy from $143.00 to $139.00 and set an "outperform" rating for the company in a research note on Wednesday, April 22nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Duke Energy in a research note on Monday, December 29th. Morgan Stanley cut their price objective on shares of Duke Energy from $142.00 to $141.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 21st. Finally, Barclays upped their price objective on shares of Duke Energy from $127.00 to $143.00 and gave the company an "overweight" rating in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Duke Energy presently has an average rating of "Moderate Buy" and a consensus price target of $140.25.

Insider Buying and Selling at Duke Energy

In related news, SVP Regis T. Repko sold 962 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $127.86, for a total value of $123,001.32. Following the completion of the transaction, the senior vice president directly owned 3,896 shares in the company, valued at $498,142.56. This trade represents a 19.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Louis E. Renjel sold 6,800 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $127.67, for a total transaction of $868,156.00. Following the sale, the chief executive officer directly owned 22,007 shares in the company, valued at $2,809,633.69. This trade represents a 23.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.12% of the stock is currently owned by corporate insiders.

Duke Energy Profile

Duke Energy Corporation is a U.S.-based electric power holding company headquartered in Charlotte, North Carolina. The company's core business is the generation, transmission and distribution of electricity to residential, commercial and industrial customers. Duke Energy operates a mix of regulated electric utilities and non-regulated energy businesses, providing essential energy infrastructure and services across multiple states.

Its operating activities include owning and operating generation assets across a portfolio that encompasses nuclear, natural gas, coal, hydroelectric and an expanding array of renewable resources, as well as battery storage and grid modernization projects.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.