Duke Energy Corporation (NYSE:DUK) Shares Sold by Commerce Bank

Key Points

• Commerce Bank has reduced its stake in Duke Energy by 2.7%, selling 6,873 shares in the first quarter, leaving holdings worth approximately $30.72 million.
• Duke Energy is experiencing analyst interest with several price target adjustments; analysts have generally rated the stock a "Moderate Buy" with a consensus price target of $127.25.
• The company plans to increase its quarterly dividend to $1.065 per share, resulting in an annualized dividend of $4.26 and a dividend yield of 3.5%.

Commerce Bank trimmed its position in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 2.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 251,846 shares of the utilities provider's stock after selling 6,873 shares during the quarter. Commerce Bank's holdings in Duke Energy were worth $30,718,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Investment Management Corp of Ontario boosted its stake in shares of Duke Energy by 212.8% during the fourth quarter. Investment Management Corp of Ontario now owns 79,989 shares of the utilities provider's stock valued at $8,618,000 after purchasing an additional 54,413 shares during the period. Andrew Hill Investment Advisors Inc. boosted its stake in shares of Duke Energy by 338.6% during the first quarter. Andrew Hill Investment Advisors Inc. now owns 37,763 shares of the utilities provider's stock valued at $4,606,000 after purchasing an additional 29,153 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Duke Energy by 7.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 291,667 shares of the utilities provider's stock valued at $35,575,000 after purchasing an additional 20,942 shares during the period. Pinnacle Financial Partners Inc boosted its stake in shares of Duke Energy by 9.9% during the first quarter. Pinnacle Financial Partners Inc now owns 127,419 shares of the utilities provider's stock valued at $14,451,000 after purchasing an additional 11,445 shares during the period. Finally, Beacon Investment Advisory Services Inc. boosted its stake in shares of Duke Energy by 8.1% during the first quarter. Beacon Investment Advisory Services Inc. now owns 51,354 shares of the utilities provider's stock valued at $6,264,000 after purchasing an additional 3,837 shares during the period. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Stock Performance

NYSE DUK traded up $1.33 during trading hours on Friday, reaching $122.97. The stock had a trading volume of 4,495,848 shares, compared to its average volume of 2,808,792. The stock has a fifty day moving average of $117.35 and a 200 day moving average of $117.00. The stock has a market cap of $95.58 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 2.97 and a beta of 0.36. Duke Energy Corporation has a 52-week low of $105.20 and a 52-week high of $125.27. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.50 and a current ratio of 0.77.

Duke Energy (NYSE:DUK - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $1.76 EPS for the quarter, topping the consensus estimate of $1.59 by $0.17. Duke Energy had a return on equity of 9.88% and a net margin of 15.40%. The business had revenue of $8.25 billion for the quarter, compared to analyst estimates of $7.70 billion. During the same quarter in the prior year, the firm posted $1.44 EPS. The business's quarterly revenue was up 7.5% compared to the same quarter last year. Sell-side analysts predict that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be paid a dividend of $1.065 per share. This represents a $4.26 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's dividend payout ratio is currently 69.32%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Citigroup boosted their target price on shares of Duke Energy from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Wells Fargo & Company lifted their price objective on Duke Energy from $127.00 to $138.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Barclays decreased their price objective on Duke Energy from $123.00 to $122.00 and set an "overweight" rating for the company in a report on Tuesday, July 1st. The Goldman Sachs Group set a $132.00 price objective on Duke Energy in a report on Tuesday, July 1st. Finally, BMO Capital Markets decreased their price objective on Duke Energy from $128.00 to $123.00 and set an "outperform" rating for the company in a report on Thursday, April 10th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $127.25.

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.