Bard Financial Services Inc. Cuts Stock Holdings in Duke Energy Co. (NYSE:DUK)

Bard Financial Services Inc. reduced its holdings in Duke Energy Co. (NYSE:DUK) by 49.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,030 shares of the utilities provider’s stock after selling 2,940 shares during the period. Bard Financial Services Inc.’s holdings in Duke Energy were worth $349,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in DUK. CIBC Private Wealth Group LLC lifted its holdings in shares of Duke Energy by 1.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 40,696 shares of the utilities provider’s stock worth $3,949,000 after acquiring an additional 475 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in Duke Energy by 13.7% during the 4th quarter. 1832 Asset Management L.P. now owns 22,681 shares of the utilities provider’s stock valued at $2,201,000 after buying an additional 2,736 shares in the last quarter. Vinva Investment Management Ltd lifted its holdings in Duke Energy by 245.1% during the 4th quarter. Vinva Investment Management Ltd now owns 8,900 shares of the utilities provider’s stock valued at $863,000 after buying an additional 6,321 shares in the last quarter. Waterloo Capital L.P. bought a new stake in Duke Energy during the 4th quarter valued at about $254,000. Finally, Security National Bank bought a new stake in Duke Energy during the 4th quarter valued at about $108,000. Institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Down 1.5 %

NYSE DUK traded down $1.71 on Friday, reaching $114.05. The company had a trading volume of 3,513,136 shares, compared to its average volume of 2,992,161. The firm has a market capitalization of $88.02 billion, a PE ratio of 28.66, a P/E/G ratio of 3.22 and a beta of 0.46. Duke Energy Co. has a 1 year low of $83.06 and a 1 year high of $118.31. The firm has a 50-day moving average of $114.28 and a 200-day moving average of $105.36. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.81 and a quick ratio of 0.53.

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

Duke Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were issued a dividend of $1.045 per share. This represents a $4.18 annualized dividend and a dividend yield of 3.67%. This is an increase from Duke Energy’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, August 16th. Duke Energy’s dividend payout ratio is currently 105.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Duke Energy from $114.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. KeyCorp boosted their price target on shares of Duke Energy from $121.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, September 30th. JPMorgan Chase & Co. boosted their price target on shares of Duke Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Jefferies Financial Group started coverage on shares of Duke Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $138.00 price objective on the stock. Finally, Scotiabank lifted their price objective 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. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Duke Energy presently has an average rating of “Moderate Buy” and a consensus price target of $118.21.

Insider Activity

In related news, EVP Louis E. Renjel sold 540 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $113.64, for a total value of $61,365.60. Following the transaction, the executive vice president now directly owns 19,884 shares of the company’s stock, valued at approximately $2,259,617.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.10% of the stock is currently owned by company insiders.

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.