Bank of Marin Buys New Shares in Duke Energy Co. (NYSE:DUK)

Bank of Marin purchased a new position in Duke Energy Co. (NYSE:DUK) in the third quarter, HoldingsChannel.com reports. The firm purchased 1,809 shares of the utilities provider’s stock, valued at approximately $209,000.

Several other institutional investors have also recently made changes to their positions in DUK. PBMares Wealth Management LLC lifted its stake in Duke Energy by 1.8% in the 3rd quarter. PBMares Wealth Management LLC now owns 4,886 shares of the utilities provider’s stock worth $563,000 after purchasing an additional 86 shares in the last quarter. Pinnacle West Asset Management Inc. lifted its position in shares of Duke Energy by 2.1% in the second quarter. Pinnacle West Asset Management Inc. now owns 4,425 shares of the utilities provider’s stock worth $444,000 after buying an additional 90 shares in the last quarter. Castleview Partners LLC boosted its stake in Duke Energy by 4.9% during the third quarter. Castleview Partners LLC now owns 1,944 shares of the utilities provider’s stock valued at $224,000 after buying an additional 90 shares during the last quarter. Kanawha Capital Management LLC increased its stake in Duke Energy by 1.4% in the 3rd quarter. Kanawha Capital Management LLC now owns 6,591 shares of the utilities provider’s stock worth $760,000 after acquiring an additional 92 shares during the last quarter. Finally, Chicago Capital LLC boosted its position in shares of Duke Energy by 0.9% during the 3rd quarter. Chicago Capital LLC now owns 10,163 shares of the utilities provider’s stock valued at $1,172,000 after acquiring an additional 93 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Performance

DUK stock traded down $0.70 during midday trading on Friday, hitting $109.98. 437,408 shares of the stock traded hands, compared to its average volume of 3,050,054. Duke Energy Co. has a 1-year low of $88.27 and a 1-year high of $121.25. 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 cap of $84.96 billion, a P/E ratio of 20.28, a PEG ratio of 2.93 and a beta of 0.47. The stock’s fifty day simple moving average is $115.49 and its 200-day simple moving average is $109.10.

Duke Energy (NYSE:DUK) last issued its quarterly 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). The company had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.94 earnings per share. On average, analysts expect that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s dividend payout ratio (DPR) is currently 76.84%.

Wall Street Analyst Weigh In

DUK has been the subject of several research reports. Evercore ISI increased their price objective on shares of Duke Energy from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Morgan Stanley boosted their price objective on Duke Energy from $114.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. KeyCorp lowered Duke Energy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 22nd. BMO Capital Markets boosted their target price on Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company raised their price target on Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.85.

About Duke Energy

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.