Meyer Handelman Co. Decreases Holdings in Duke Energy Co. (NYSE:DUK)

Meyer Handelman Co. cut its holdings in shares of Duke Energy Co. (NYSE:DUK - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,572 shares of the utilities provider's stock after selling 5,005 shares during the period. Meyer Handelman Co.'s holdings in Duke Energy were worth $8,608,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Duke Energy by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 72,885,939 shares of the utilities provider's stock valued at $7,852,731,000 after buying an additional 779,054 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Duke Energy by 0.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 18,097,796 shares of the utilities provider's stock worth $1,949,857,000 after purchasing an additional 124,863 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Duke Energy by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 17,873,788 shares of the utilities provider's stock worth $1,930,833,000 after purchasing an additional 385,612 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Duke Energy by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,562,545 shares of the utilities provider's stock valued at $922,529,000 after purchasing an additional 135,665 shares during the period. Finally, Royal Bank of Canada increased its stake in Duke Energy by 4.4% during the 4th quarter. Royal Bank of Canada now owns 8,503,503 shares of the utilities provider's stock valued at $916,168,000 after purchasing an additional 357,967 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Price Performance

Shares of Duke Energy stock traded down $0.53 on Monday, reaching $117.20. The stock had a trading volume of 2,752,879 shares, compared to its average volume of 3,458,473. Duke Energy Co. has a 1 year low of $99.21 and a 1 year high of $125.27. The company has a market cap of $91.09 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 2.79 and a beta of 0.39. The company has a current ratio of 0.67, a quick ratio of 0.44 and a debt-to-equity ratio of 1.52. The business's 50 day moving average is $118.76 and its two-hundred day moving average is $114.82.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.17. Duke Energy had a net margin of 14.90% and a return on equity of 9.50%. The firm had revenue of $8.25 billion for the quarter, compared to the consensus estimate of $7.70 billion. During the same period in the prior year, the firm posted $1.44 earnings per share. The company's revenue for the quarter was up 7.5% on a year-over-year basis. As a group, research analysts anticipate that Duke Energy Co. will post 6.33 EPS for the current year.

Duke Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 16th will be given a $1.045 dividend. This represents a $4.18 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Friday, May 16th. Duke Energy's dividend payout ratio (DPR) is 69.32%.

Analyst Ratings Changes

Several research analysts have weighed in on DUK shares. Barclays upped their price objective on shares of Duke Energy from $111.00 to $123.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. Morgan Stanley reduced their target price on shares of Duke Energy from $126.00 to $125.00 and set an "equal weight" rating for the company in a research note on Thursday, May 22nd. Guggenheim upped their target price on shares of Duke Energy from $132.00 to $135.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Wells Fargo & Company upped their target price on shares of Duke Energy from $127.00 to $138.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Finally, BMO Capital Markets reduced their target price on shares of Duke Energy from $128.00 to $123.00 and set an "outperform" rating for the company in a research note on Thursday, April 10th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $125.81.

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.