Norway Savings Bank Sells 540 Shares of Duke Energy Co. (NYSE:DUK)

Norway Savings Bank cut its stake in Duke Energy Co. (NYSE:DUK) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,868 shares of the utilities provider’s stock after selling 540 shares during the period. Norway Savings Bank’s holdings in Duke Energy were worth $1,602,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. PBMares Wealth Management LLC lifted its position in Duke Energy by 1.8% during the 3rd quarter. PBMares Wealth Management LLC now owns 4,886 shares of the utilities provider’s stock valued at $563,000 after purchasing an additional 86 shares during the period. Pinnacle West Asset Management Inc. grew its holdings in Duke Energy by 2.1% during the 2nd quarter. Pinnacle West Asset Management Inc. now owns 4,425 shares of the utilities provider’s stock worth $444,000 after acquiring an additional 90 shares during the period. Castleview Partners LLC raised its position in shares of Duke Energy by 4.9% during the 3rd quarter. Castleview Partners LLC now owns 1,944 shares of the utilities provider’s stock valued at $224,000 after acquiring an additional 90 shares during the last quarter. Kanawha Capital Management LLC lifted its stake in shares of Duke Energy by 1.4% in the 3rd quarter. Kanawha Capital Management LLC now owns 6,591 shares of the utilities provider’s stock valued at $760,000 after purchasing an additional 92 shares during the period. Finally, Baron Wealth Management LLC grew its stake in shares of Duke Energy by 3.5% during the third quarter. Baron Wealth Management LLC now owns 2,730 shares of the utilities provider’s stock worth $315,000 after purchasing an additional 92 shares during the period. Institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Up 0.4 %

DUK stock traded up $0.45 during midday trading on Tuesday, reaching $106.82. 1,471,430 shares of the company’s stock traded hands, compared to its average volume of 2,731,002. Duke Energy Co. has a 52 week low of $90.09 and a 52 week high of $121.25. The company has a market cap of $82.52 billion, a price-to-earnings ratio of 19.64, a P/E/G ratio of 2.90 and a beta of 0.49. The firm’s fifty day moving average price is $111.54 and its 200-day moving average price is $111.59. The company has a quick ratio of 0.45, a current ratio of 0.70 and a debt-to-equity ratio of 1.55.

Duke Energy (NYSE:DUK) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.11). Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. The company had revenue of $8.16 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter last year, the business posted $1.94 earnings per share. Duke Energy’s revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that Duke Energy Co. will post 5.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on DUK shares. Barclays boosted their price objective on shares of Duke Energy from $102.00 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Morgan Stanley reduced their target price on Duke Energy from $122.00 to $118.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Scotiabank raised their price target on Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Jefferies Financial Group initiated coverage on Duke Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $138.00 target price for the company. Finally, KeyCorp cut shares of Duke Energy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $122.23.

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.