Duke Energy Co. (NYSE:DUK) Shares Sold by Synovus Financial Corp

Synovus Financial Corp lowered its holdings in shares of Duke Energy Co. (NYSE:DUK) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,774 shares of the utilities provider’s stock after selling 4,572 shares during the period. Synovus Financial Corp’s holdings in Duke Energy were worth $17,154,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of Duke Energy by 7.3% in the second quarter. Blue Trust Inc. now owns 14,586 shares of the utilities provider’s stock worth $1,411,000 after acquiring an additional 994 shares during the last quarter. Stanley Laman Group Ltd. boosted its stake in shares of Duke Energy by 21.7% during the 2nd quarter. Stanley Laman Group Ltd. now owns 6,150 shares of the utilities provider’s stock worth $616,000 after purchasing an additional 1,097 shares during the last quarter. Gradient Investments LLC raised its position in shares of Duke Energy by 34.9% in the second quarter. Gradient Investments LLC now owns 2,426 shares of the utilities provider’s stock valued at $243,000 after buying an additional 628 shares during the last quarter. Foster Victor Wealth Advisors LLC lifted its stake in shares of Duke Energy by 8.0% during the second quarter. Foster Victor Wealth Advisors LLC now owns 9,148 shares of the utilities provider’s stock valued at $975,000 after buying an additional 676 shares during the period. Finally, Petra Financial Advisors Inc. boosted its position in Duke Energy by 3.0% during the second quarter. Petra Financial Advisors Inc. now owns 4,471 shares of the utilities provider’s stock worth $448,000 after acquiring an additional 130 shares during the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Trading Down 0.4 %

NYSE:DUK opened at $109.16 on Friday. Duke Energy Co. has a 12 month low of $90.09 and a 12 month high of $121.25. The business’s 50-day moving average is $114.49 and its two-hundred day moving average is $110.75. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.70 and a quick ratio of 0.45. The firm has a market capitalization of $84.32 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 2.90 and a beta of 0.47.

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

Duke Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date is Friday, November 15th. Duke Energy’s payout ratio is 76.84%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Scotiabank increased their price target on Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Thursday. BMO Capital Markets lifted their price target on Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Jefferies Financial Group initiated coverage on shares of Duke Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $138.00 price objective for the company. Morgan Stanley dropped their price target on shares of Duke Energy from $122.00 to $118.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Finally, Barclays lifted their price target 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. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $122.23.

Duke Energy 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.