Community Financial Services Group LLC Sells 1,700 Shares of Duke Energy Corporation (NYSE:DUK)

Community Financial Services Group LLC lowered its position in shares of Duke Energy Corporation (NYSE:DUK) by 37.6% in the first quarter, HoldingsChannel reports. The fund owned 2,819 shares of the utilities provider’s stock after selling 1,700 shares during the period. Community Financial Services Group LLC’s holdings in Duke Energy were worth $344,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Chevy Chase Trust Holdings LLC raised its position in shares of Duke Energy by 0.4% during the first quarter. Chevy Chase Trust Holdings LLC now owns 408,688 shares of the utilities provider’s stock worth $49,848,000 after acquiring an additional 1,442 shares during the last quarter. YHB Investment Advisors Inc. bought a new stake in Duke Energy in the first quarter valued at about $200,000. Keudell Morrison Wealth Management increased its holdings in Duke Energy by 2.8% in the first quarter. Keudell Morrison Wealth Management now owns 7,431 shares of the utilities provider’s stock valued at $906,000 after purchasing an additional 204 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in Duke Energy in the first quarter valued at about $52,000. Finally, Legacy Advisors LLC increased its holdings in Duke Energy by 263.0% in the first quarter. Legacy Advisors LLC now owns 8,030 shares of the utilities provider’s stock valued at $979,000 after purchasing an additional 5,818 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Up 1.4%

NYSE:DUK opened at $116.98 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.50 and a debt-to-equity ratio of 1.57. The stock has a market cap of $90.92 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 2.88 and a beta of 0.37. The stock has a 50-day moving average price of $117.88 and a two-hundred day moving average price of $114.95. Duke Energy Corporation has a 1 year low of $99.21 and a 1 year high of $125.27.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.17. The company had revenue of $8.25 billion during the quarter, compared to analysts’ expectations of $7.70 billion. Duke Energy had a return on equity of 9.88% and a net margin of 15.40%. Duke Energy’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. As a group, equities analysts expect that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 16th were given a dividend of $1.045 per share. The ex-dividend date was Friday, May 16th. This represents a $4.18 annualized dividend and a dividend yield of 3.57%. Duke Energy’s dividend payout ratio is currently 69.32%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Raymond James Financial assumed coverage on Duke Energy in a report on Friday, June 13th. They issued a “market perform” rating for the company. Barclays upped their price objective on Duke Energy from $111.00 to $123.00 and gave the company an “overweight” rating in a report on Tuesday, April 8th. Wells Fargo & Company upped their price objective on Duke Energy from $127.00 to $138.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. BMO Capital Markets dropped their price objective on Duke Energy from $128.00 to $123.00 and set an “outperform” rating for the company in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. upped their price objective on Duke Energy from $114.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, March 11th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $125.75.

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.