Fifth Third Bancorp Raises Stake in Duke Energy Corp (DUK)

Fifth Third Bancorp grew its position in Duke Energy Corp (NYSE:DUK) by 2.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 484,963 shares of the utilities provider’s stock after acquiring an additional 9,579 shares during the period. Fifth Third Bancorp’s holdings in Duke Energy were worth $38,807,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of DUK. Landaas & Co. WI ADV purchased a new position in Duke Energy in the second quarter valued at $110,000. TRUE Private Wealth Advisors purchased a new position in Duke Energy in the third quarter valued at $119,000. Psagot Investment House Ltd. boosted its holdings in Duke Energy by 1,514.3% in the third quarter. Psagot Investment House Ltd. now owns 1,695 shares of the utilities provider’s stock valued at $136,000 after purchasing an additional 1,590 shares during the period. Point72 Hong Kong Ltd purchased a new position in Duke Energy in the second quarter valued at $140,000. Finally, Shayne & CO. LLC purchased a new position in Duke Energy in the third quarter valued at $200,000. 59.65% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently issued reports on DUK. Morgan Stanley decreased their target price on Duke Energy from $91.00 to $85.00 and set a “hold” rating for the company in a report on Friday, September 21st. Guggenheim reiterated a “buy” rating and issued a $86.00 target price on shares of Duke Energy in a report on Friday, August 17th. Barclays lifted their target price on Duke Energy from $86.00 to $88.00 and gave the company a “hold” rating in a report on Monday, November 19th. ValuEngine upgraded Duke Energy from a “hold” rating to a “buy” rating in a report on Wednesday, November 21st. Finally, Zacks Investment Research lowered Duke Energy from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $84.13.

Shares of NYSE DUK opened at $89.99 on Friday. The stock has a market cap of $64.04 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 3.77 and a beta of -0.03. The company has a quick ratio of 0.46, a current ratio of 0.68 and a debt-to-equity ratio of 1.17. Duke Energy Corp has a 1 year low of $71.96 and a 1 year high of $90.70.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Friday, November 2nd. The utilities provider reported $1.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.12. The company had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $6.59 billion. Duke Energy had a return on equity of 8.02% and a net margin of 11.98%. Duke Energy’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.59 EPS. On average, equities research analysts expect that Duke Energy Corp will post 4.74 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 16th will be issued a dividend of $0.9275 per share. This represents a $3.71 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Thursday, November 15th. Duke Energy’s dividend payout ratio (DPR) is 81.18%.

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Duke Energy Company Profile

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; uses coal, hydroelectric, natural gas, oil, renewable sources, and nuclear fuel to generate electricity; and engages in the wholesale of electricity to municipalities, electric cooperative utilities, and other load-serving entities.

Read More: Price to Earnings Ratio (PE), For Valuing Stocks

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Institutional Ownership by Quarter for Duke Energy (NYSE:DUK)

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