SouthState Corp Sells 18,036 Shares of Duke Energy Co. (NYSE:DUK)

SouthState Corp lessened its holdings in shares of Duke Energy Co. (NYSE:DUK) by 27.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,477 shares of the utilities provider’s stock after selling 18,036 shares during the quarter. SouthState Corp’s holdings in Duke Energy were worth $5,474,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Research Global Investors raised its stake in Duke Energy by 3.2% in the 1st quarter. Capital Research Global Investors now owns 11,493,340 shares of the utilities provider’s stock valued at $1,111,521,000 after acquiring an additional 352,320 shares during the period. Pathway Financial Advisers LLC raised its position in shares of Duke Energy by 11,471.4% in 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 purchasing an additional 6,719,398 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Duke Energy by 1.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,471,035 shares of the utilities provider’s stock worth $247,672,000 after buying an additional 40,243 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Duke Energy by 0.3% during the 3rd quarter. Swiss National Bank now owns 2,290,641 shares of the utilities provider’s stock worth $264,111,000 after buying an additional 6,500 shares during the period. Finally, Mackenzie Financial Corp grew its stake in Duke Energy by 65.7% in the 2nd quarter. Mackenzie Financial Corp now owns 2,052,969 shares of the utilities provider’s stock valued at $205,769,000 after buying an additional 813,744 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Up 1.2 %

Shares of NYSE DUK opened at $113.57 on Tuesday. The company has a market cap of $87.73 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 2.96 and a beta of 0.47. The company has a current ratio of 0.70, a quick ratio of 0.45 and a debt-to-equity ratio of 1.55. Duke Energy Co. has a 12 month low of $88.27 and a 12 month high of $121.25. The stock has a 50-day moving average price of $115.33 and a two-hundred day moving average price of $109.43.

Duke Energy (NYSE:DUK) last issued 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 net margin of 14.31% and a return on equity of 9.34%. The company had revenue of $8.16 billion during the quarter, compared to analyst estimates of $8.06 billion. During the same quarter in the prior year, the business earned $1.94 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, analysts forecast that Duke Energy Co. will post 5.97 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The company also recently disclosed 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. This represents a $4.18 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Friday, November 15th. Duke Energy’s dividend payout ratio is currently 76.84%.

Analyst Upgrades and Downgrades

DUK has been the subject of a number of research analyst reports. BMO Capital Markets boosted their price objective on Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. The Goldman Sachs Group boosted their price target on Duke Energy from $102.00 to $113.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Morgan Stanley increased their price objective on Duke Energy from $114.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Jefferies Financial Group initiated coverage on shares of Duke Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $138.00 target price for the company. Finally, 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 report on Tuesday, August 20th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Duke Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.85.

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.