CIBC Asset Management Inc Sells 9,557 Shares of Duke Energy Co. (NYSE:DUK)

CIBC Asset Management Inc cut its holdings in shares of Duke Energy Co. (NYSE:DUK) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 213,393 shares of the utilities provider’s stock after selling 9,557 shares during the quarter. CIBC Asset Management Inc’s holdings in Duke Energy were worth $24,602,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Duke Energy by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 70,675,702 shares of the utilities provider’s stock valued at $6,835,047,000 after purchasing an additional 324,289 shares during the period. Capital Research Global Investors grew its position in Duke Energy by 3.2% during the first quarter. Capital Research Global Investors now owns 11,493,340 shares of the utilities provider’s stock worth $1,111,521,000 after buying an additional 352,320 shares in the last quarter. Pathway Financial Advisers LLC increased its stake in Duke Energy by 11,471.4% during the third quarter. Pathway Financial Advisers LLC now owns 6,777,973 shares of the utilities provider’s stock valued at $781,500,000 after acquiring an additional 6,719,398 shares during the period. Envestnet Asset Management Inc. raised its holdings in Duke Energy by 1.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,471,035 shares of the utilities provider’s stock valued at $247,672,000 after acquiring an additional 40,243 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of Duke Energy by 65.7% in the 2nd quarter. Mackenzie Financial Corp now owns 2,052,969 shares of the utilities provider’s stock worth $205,769,000 after acquiring an additional 813,744 shares during the period. 65.31% of the stock is owned by institutional investors.

Duke Energy Price Performance

Shares of DUK stock opened at $112.16 on Friday. The stock’s fifty day moving average is $115.49 and its 200-day moving average is $109.10. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.45 and a current ratio of 0.70. Duke Energy Co. has a 52 week low of $88.27 and a 52 week high of $121.25. The stock has a market capitalization of $86.64 billion, a PE ratio of 20.62, a PEG ratio of 2.93 and a beta of 0.47.

Duke Energy (NYSE:DUK) last announced its earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11). Duke Energy had a return on equity of 9.34% and a net margin of 14.31%. The company had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same period in the prior year, the firm posted $1.94 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Equities research analysts expect that Duke Energy Co. will post 5.97 EPS for the current fiscal year.

Duke Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $1.045 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.18 annualized dividend and a dividend yield of 3.73%. Duke Energy’s dividend payout ratio (DPR) is currently 76.84%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on DUK shares. Bank of America upped their target price on Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. BMO Capital Markets raised their price objective on shares of Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Morgan Stanley upped their target price on shares of Duke Energy from $114.00 to $120.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Scotiabank raised their price target on shares of Duke Energy from $104.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Mizuho raised Duke Energy from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $116.00 to $121.00 in a report on Tuesday, October 15th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $121.85.

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.