First Community Trust NA Reduces Stake in Duke Energy Co. (NYSE:DUK)

First Community Trust NA trimmed its holdings in Duke Energy Co. (NYSE:DUK) by 36.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 348 shares of the utilities provider’s stock after selling 200 shares during the quarter. First Community Trust NA’s holdings in Duke Energy were worth $31,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Radnor Capital Management LLC grew its position in shares of Duke Energy by 3.8% during the second quarter. Radnor Capital Management LLC now owns 7,829 shares of the utilities provider’s stock worth $703,000 after acquiring an additional 285 shares during the last quarter. Grandview Asset Management LLC grew its position in Duke Energy by 1.7% during the 2nd quarter. Grandview Asset Management LLC now owns 15,034 shares of the utilities provider’s stock worth $1,349,000 after purchasing an additional 247 shares during the last quarter. Abacus Planning Group Inc. increased its stake in Duke Energy by 8.9% in the second quarter. Abacus Planning Group Inc. now owns 8,017 shares of the utilities provider’s stock valued at $719,000 after purchasing an additional 654 shares during the period. Fulton Bank N.A. boosted its stake in shares of Duke Energy by 2.9% during the second quarter. Fulton Bank N.A. now owns 44,972 shares of the utilities provider’s stock worth $4,036,000 after buying an additional 1,271 shares during the period. Finally, Apella Capital LLC acquired a new position in Duke Energy in the 2nd quarter valued at about $206,000. 63.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Royal Bank of Canada lowered their target price on Duke Energy from $104.00 to $101.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 6th. Morgan Stanley lowered their price objective on shares of Duke Energy from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 23rd. JPMorgan Chase & Co. upped their price objective on shares of Duke Energy from $98.00 to $101.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. Guggenheim dropped their price target on shares of Duke Energy from $114.00 to $102.00 in a research note on Friday, July 7th. Finally, Bank of America reduced their price objective on shares of Duke Energy from $112.00 to $110.00 in a research report on Sunday, June 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $99.92.

Duke Energy Trading Up 0.2 %

Shares of NYSE DUK traded up $0.22 during trading on Friday, hitting $95.67. 2,165,911 shares of the company traded hands, compared to its average volume of 2,942,825. The company has a quick ratio of 0.52, a current ratio of 0.75 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $73.73 billion, a P/E ratio of 53.32, a P/E/G ratio of 2.75 and a beta of 0.43. The company has a 50-day moving average price of $91.39 and a 200-day moving average price of $93.33. Duke Energy Co. has a 1 year low of $83.76 and a 1 year high of $107.59.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.07). The firm had revenue of $6.58 billion for the quarter, compared to analyst estimates of $6.16 billion. Duke Energy had a return on equity of 8.05% and a net margin of 5.06%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.14 earnings per share. On average, equities analysts predict that Duke Energy Co. will post 5.61 EPS for the current year.

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, August 18th will be given a dividend of $1.025 per share. This represents a $4.10 dividend on an annualized basis and a yield of 4.29%. This is a boost from Duke Energy’s previous quarterly dividend of $1.01. The ex-dividend date is Thursday, August 17th. Duke Energy’s payout ratio is 229.05%.

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.