Amalgamated Bank Sells 3,005 Shares of Duke Energy Co. (NYSE:DUK)

Amalgamated Bank decreased its holdings in shares of Duke Energy Co. (NYSE:DUK) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,894 shares of the utilities provider’s stock after selling 3,005 shares during the period. Amalgamated Bank’s holdings in Duke Energy were worth $15,625,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV grew its position in Duke Energy by 2.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 155,300 shares of the utilities provider’s stock valued at $15,566,000 after purchasing an additional 4,087 shares during the period. Wealth Alliance increased its position in shares of Duke Energy by 5.8% during the second quarter. Wealth Alliance now owns 23,396 shares of the utilities provider’s stock worth $2,345,000 after acquiring an additional 1,275 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its holdings in shares of Duke Energy by 2.8% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 15,484 shares of the utilities provider’s stock worth $1,552,000 after acquiring an additional 424 shares during the last quarter. L & S Advisors Inc lifted its position in Duke Energy by 8.2% in the 2nd quarter. L & S Advisors Inc now owns 24,238 shares of the utilities provider’s stock valued at $2,429,000 after acquiring an additional 1,833 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its position in Duke Energy by 8.1% in the 2nd quarter. Axxcess Wealth Management LLC now owns 29,510 shares of the utilities provider’s stock valued at $2,958,000 after acquiring an additional 2,223 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors.

Duke Energy Price Performance

DUK opened at $115.90 on Thursday. The company has a market capitalization of $89.45 billion, a price-to-earnings ratio of 29.12, a PEG ratio of 3.19 and a beta of 0.47. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. The firm has a 50-day moving average price of $112.11 and a 200-day moving average price of $103.58. Duke Energy Co. has a twelve month low of $83.06 and a twelve month high of $118.31.

Duke Energy (NYSE:DUK) last issued its earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. The business had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $6.84 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities analysts expect that Duke Energy Co. will post 5.97 EPS for the current year.

Duke Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were paid a $1.045 dividend. The ex-dividend date was Friday, August 16th. This represents a $4.18 annualized dividend and a yield of 3.61%. This is an increase from Duke Energy’s previous quarterly dividend of $1.03. Duke Energy’s dividend payout ratio (DPR) is currently 105.03%.

Insider Activity

In other news, EVP Louis E. Renjel sold 540 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $113.64, for a total value of $61,365.60. Following the completion of the transaction, the executive vice president now directly owns 19,884 shares in the company, valued at $2,259,617.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on DUK shares. Royal Bank of Canada reissued an “outperform” rating and issued a $135.00 price objective on shares of Duke Energy in a research note on Thursday, August 29th. Evercore ISI lifted their price objective on shares of Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Bank of America raised their price target on shares of Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. The Goldman Sachs Group lifted their target price on shares of Duke Energy from $102.00 to $113.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Finally, Wells Fargo & Company upped their target price on Duke Energy from $110.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $114.69.

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.