First Financial Bank Trust Division Trims Stake in Duke Energy Co. (NYSE:DUK)

First Financial Bank Trust Division reduced its position in shares of Duke Energy Co. (NYSE:DUK) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,894 shares of the utilities provider’s stock after selling 165 shares during the quarter. First Financial Bank Trust Division’s holdings in Duke Energy were worth $619,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of DUK. Fairfield Bush & CO. purchased a new position in shares of Duke Energy in the 1st quarter valued at $40,000. Cibc World Market Inc. increased its holdings in shares of Duke Energy by 1.2% in the 1st quarter. Cibc World Market Inc. now owns 47,250 shares of the utilities provider’s stock valued at $5,276,000 after acquiring an additional 581 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Duke Energy by 29.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 9,751 shares of the utilities provider’s stock valued at $1,089,000 after acquiring an additional 2,223 shares during the period. Covestor Ltd increased its holdings in shares of Duke Energy by 447.8% in the 1st quarter. Covestor Ltd now owns 1,260 shares of the utilities provider’s stock valued at $141,000 after acquiring an additional 1,030 shares during the period. Finally, Mather Group LLC. increased its holdings in shares of Duke Energy by 5.2% in the 1st quarter. Mather Group LLC. now owns 6,505 shares of the utilities provider’s stock valued at $726,000 after acquiring an additional 322 shares during the period. 63.68% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Price Performance

NYSE:DUK opened at $93.88 on Thursday. Duke Energy Co. has a 12 month low of $83.76 and a 12 month high of $109.94. The stock has a 50 day moving average of $91.35 and a two-hundred day moving average of $93.33. The company has a current ratio of 0.75, a quick ratio of 0.52 and a debt-to-equity ratio of 1.42. The firm has a market cap of $72.35 billion, a P/E ratio of 52.45, a price-to-earnings-growth ratio of 2.62 and a beta of 0.43.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data on Tuesday, August 8th. The utilities provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.07). Duke Energy had a return on equity of 8.05% and a net margin of 5.06%. The firm had revenue of $6.58 billion for the quarter, compared to analysts’ expectations of $6.16 billion. During the same quarter last year, the firm posted $1.14 earnings per share. Duke Energy’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts expect that Duke Energy Co. will post 5.61 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Friday, August 18th will be given a $1.025 dividend. The ex-dividend date is Thursday, August 17th. This is a positive change from Duke Energy’s previous quarterly dividend of $1.01. This represents a $4.10 dividend on an annualized basis and a dividend yield of 4.37%. Duke Energy’s dividend payout ratio is 229.05%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on DUK shares. BMO Capital Markets cut their price target on Duke Energy from $105.00 to $98.00 and set an “outperform” rating on the stock in a report on Wednesday, August 9th. Morgan Stanley lowered their price objective on Duke Energy from $102.00 to $95.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 23rd. StockNews.com cut Duke Energy from a “hold” rating to a “sell” rating in a research report on Saturday, September 2nd. Mizuho lowered their price objective on Duke Energy from $92.00 to $91.00 and set a “neutral” rating for the company in a research report on Friday, August 25th. Finally, Guggenheim lowered their price objective on Duke Energy from $114.00 to $102.00 in a research report on Friday, July 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $99.92.

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; and uses coal, hydroelectric, natural gas, oil, solar and wind sources, renewables, and nuclear fuel to generate electricity.