Pinnacle Financial Partners Inc Has $13.30 Million Position in Duke Energy Co. (NYSE:DUK)

Pinnacle Financial Partners Inc boosted its holdings in Duke Energy Co. (NYSE:DUK) by 79.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 115,367 shares of the utilities provider’s stock after acquiring an additional 51,218 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Duke Energy were worth $13,302,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Northwest Investment Counselors LLC acquired a new stake in Duke Energy during the 3rd quarter valued at approximately $30,000. Fortitude Family Office LLC raised its position in shares of Duke Energy by 69.6% in the 2nd quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 119 shares in the last quarter. Olistico Wealth LLC acquired a new position in shares of Duke Energy in the 2nd quarter valued at about $30,000. Sachetta LLC increased its stake in Duke Energy by 41.9% in the second quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 96 shares in the last quarter. Finally, Reston Wealth Management LLC bought a new position in Duke Energy in the third quarter worth approximately $38,000. Institutional investors own 65.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Mizuho raised Duke Energy from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $116.00 to $121.00 in a report on Tuesday, October 15th. Scotiabank increased their price objective on shares of Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. KeyCorp downgraded Duke Energy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price target on Duke Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Finally, Barclays boosted their price objective on Duke Energy from $102.00 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.85.

Duke Energy Stock Performance

Shares of NYSE:DUK opened at $111.89 on Wednesday. Duke Energy Co. has a 1 year low of $86.61 and a 1 year high of $121.25. The firm has a market capitalization of $86.43 billion, a PE ratio of 20.57, a P/E/G ratio of 3.07 and a beta of 0.47. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.70 and a quick ratio of 0.45. The business’s 50 day moving average price is $115.73 and its 200-day moving average price is $109.07.

Duke Energy (NYSE:DUK) last announced its earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.11). The company had revenue of $8.16 billion for the quarter, compared to analysts’ expectations of $8.06 billion. Duke Energy had a return on equity of 9.34% and a net margin of 14.31%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $1.94 EPS. As a group, equities research analysts expect that Duke Energy Co. will post 5.97 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $1.045 dividend. This represents a $4.18 annualized dividend and a dividend yield of 3.74%. The ex-dividend date is Friday, November 15th. Duke Energy’s payout ratio is 76.84%.

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.