Camden National Bank Sells 1,413 Shares of Duke Energy Corporation $DUK

Camden National Bank lessened its position in shares of Duke Energy Corporation (NYSE:DUK) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,636 shares of the utilities provider’s stock after selling 1,413 shares during the quarter. Camden National Bank’s holdings in Duke Energy were worth $8,453,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Simon Quick Advisors LLC boosted its position in Duke Energy by 42.2% during the 2nd quarter. Simon Quick Advisors LLC now owns 7,444 shares of the utilities provider’s stock worth $878,000 after acquiring an additional 2,210 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Duke Energy by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 8,656,244 shares of the utilities provider’s stock worth $1,055,087,000 after purchasing an additional 93,699 shares in the last quarter. Resolution Capital Ltd boosted its holdings in Duke Energy by 7.6% during the first quarter. Resolution Capital Ltd now owns 59,995 shares of the utilities provider’s stock worth $7,318,000 after purchasing an additional 4,255 shares during the last quarter. Raymond James Financial Inc. grew its position in Duke Energy by 88.1% in the first quarter. Raymond James Financial Inc. now owns 4,861,309 shares of the utilities provider’s stock valued at $592,934,000 after purchasing an additional 2,276,948 shares in the last quarter. Finally, Ethos Financial Group LLC acquired a new stake in Duke Energy in the 1st quarter valued at $1,551,000. Institutional investors own 65.31% of the company’s stock.

Insider Activity at Duke Energy

In related news, EVP Robert Alexander Glenn sold 8,200 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $123.80, for a total value of $1,015,160.00. Following the transaction, the executive vice president owned 11,367 shares in the company, valued at approximately $1,407,234.60. This represents a 41.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. TD Cowen began coverage on Duke Energy in a report on Thursday, October 16th. They issued a “buy” rating and a $143.00 price objective for the company. Evercore ISI assumed coverage on Duke Energy in a research note on Monday, October 6th. They issued an “outperform” rating and a $143.00 price target for the company. Morgan Stanley reiterated an “underperform” rating on shares of Duke Energy in a research note on Thursday. Cowen started coverage on Duke Energy in a report on Wednesday, October 15th. They issued a “buy” rating for the company. Finally, The Goldman Sachs Group boosted their target price on shares of Duke Energy from $138.00 to $141.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $138.44.

Duke Energy Stock Performance

DUK opened at $122.78 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.66 and a debt-to-equity ratio of 1.55. Duke Energy Corporation has a 12-month low of $105.20 and a 12-month high of $130.03. The business has a 50 day moving average of $124.37 and a 200-day moving average of $120.99. The stock has a market cap of $95.48 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 3.05 and a beta of 0.45.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The business had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.51 billion. During the same quarter in the prior year, the business earned $1.62 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities research analysts expect that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be paid a dividend of $1.065 per share. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, November 14th. Duke Energy’s dividend payout ratio (DPR) is currently 66.98%.

Duke Energy 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.