Independence Bank of Kentucky Has $665,000 Stock Position in Duke Energy Co. (NYSE:DUK)

Independence Bank of Kentucky decreased its stake in shares of Duke Energy Co. (NYSE:DUK) by 1.9% in the 3rd quarter, Holdings Channel reports. The fund owned 5,767 shares of the utilities provider’s stock after selling 110 shares during the quarter. Independence Bank of Kentucky’s holdings in Duke Energy were worth $665,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DUK. Northwest Investment Counselors LLC acquired a new stake in shares of Duke Energy in the first quarter valued at about $25,000. Fortitude Family Office LLC lifted its stake in Duke Energy by 69.6% in the second quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 119 shares during the last quarter. Olistico Wealth LLC acquired a new position in shares of Duke Energy during the 2nd quarter worth about $30,000. Riverview Trust Co bought a new stake in shares of Duke Energy in the 1st quarter valued at about $30,000. Finally, Sachetta LLC lifted its stake in Duke Energy by 41.9% in the 2nd quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 96 shares during the last quarter. 65.31% of the stock is owned by institutional investors.

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 shares were sold at an average price of $113.64, for a total value of $61,365.60. Following the completion of the transaction, the executive vice president now owns 19,884 shares in the company, valued at $2,259,617.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.10% of the company’s stock.

Duke Energy Price Performance

Shares of DUK stock opened at $114.18 on Friday. Duke Energy Co. has a twelve month low of $85.79 and a twelve month high of $118.31. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. The business has a fifty day simple moving average of $114.38 and a 200 day simple moving average of $105.88. The company has a market cap of $88.17 billion, a P/E ratio of 21.03, a P/E/G ratio of 3.06 and a beta of 0.46.

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

Duke Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $1.045 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.18 annualized dividend and a yield of 3.66%. Duke Energy’s dividend payout ratio is presently 76.98%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. upped their price objective 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. Bank of America lifted their target price on shares of Duke Energy from $116.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Wells Fargo & Company increased their price target on shares of Duke Energy from $110.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Finally, KeyCorp increased their target price on Duke Energy from $121.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.15.

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.