Texas Capital Bank Wealth Management Services Inc increased its stake in shares of Duke Energy Corporation (NYSE:DUK – Free Report) by 139.3% in the fourth quarter, HoldingsChannel reports. The firm owned 9,688 shares of the utilities provider’s stock after buying an additional 5,640 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in Duke Energy were worth $1,136,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mill Creek Capital Advisors LLC increased its position in Duke Energy by 4.6% during the 3rd quarter. Mill Creek Capital Advisors LLC now owns 1,854 shares of the utilities provider’s stock worth $229,000 after purchasing an additional 82 shares in the last quarter. CYBER HORNET ETFs LLC increased its position in Duke Energy by 4.1% during the 3rd quarter. CYBER HORNET ETFs LLC now owns 2,113 shares of the utilities provider’s stock worth $261,000 after purchasing an additional 83 shares in the last quarter. Legacy Wealth Managment LLC ID increased its position in Duke Energy by 35.0% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 324 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 84 shares in the last quarter. MidWestOne Financial Group Inc. increased its position in Duke Energy by 1.1% during the 3rd quarter. MidWestOne Financial Group Inc. now owns 7,858 shares of the utilities provider’s stock worth $972,000 after purchasing an additional 87 shares in the last quarter. Finally, Perennial Investment Advisors LLC increased its position in Duke Energy by 4.1% during the 3rd quarter. Perennial Investment Advisors LLC now owns 2,223 shares of the utilities provider’s stock worth $275,000 after purchasing an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.
Duke Energy Stock Down 1.3%
Shares of NYSE DUK opened at $123.70 on Friday. Duke Energy Corporation has a 52-week low of $113.39 and a 52-week high of $134.49. The firm has a fifty day moving average of $127.61 and a 200-day moving average of $124.05. The stock has a market capitalization of $96.43 billion, a PE ratio of 18.94 and a beta of 0.41. The company has a quick ratio of 0.44, a current ratio of 0.66 and a debt-to-equity ratio of 1.45.
Duke Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th will be issued a dividend of $1.065 per share. The ex-dividend date is Friday, May 15th. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. Duke Energy’s payout ratio is presently 65.24%.
Insider Transactions at Duke Energy
In other news, CEO Harry K. Sideris sold 20,000 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the completion of the sale, the chief executive officer owned 96,102 shares in the company, valued at approximately $11,952,205.74. The trade was a 17.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Louis E. Renjel sold 3,500 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $125.15, for a total value of $438,025.00. Following the sale, the chief executive officer owned 21,415 shares of the company’s stock, valued at $2,680,087.25. The trade was a 14.05% decrease in their position. The SEC filing for this sale provides additional information. 0.12% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of analysts recently commented on the company. Capitol Sec Mgt cut Duke Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Weiss Ratings restated a “buy (b)” rating on shares of Duke Energy in a report on Monday, May 4th. JPMorgan Chase & Co. lowered their price target on Duke Energy from $139.00 to $136.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Wells Fargo & Company lifted their price target on Duke Energy from $135.00 to $136.00 and gave the company an “equal weight” rating in a report on Monday, April 20th. Finally, The Goldman Sachs Group lifted their price target on Duke Energy from $141.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.07.
Read Our Latest Stock Report on DUK
Key Duke Energy News
Here are the key news stories impacting Duke Energy this week:
- Positive Sentiment: Duke Energy was named among the utilities to watch as wind energy adoption and broader clean-power demand continue to rise, which could support long-term load growth and investment opportunities. Top Wind Energy Stocks to Watch Amid Increased Adoption of Clean Energy
- Positive Sentiment: The Duke Energy Foundation announced $500,000 in grants to improve hurricane preparedness in North Carolina, reinforcing its focus on storm readiness and community resilience ahead of hurricane season. Ahead of hurricane season, Duke Energy Foundation awards $500,000 to strengthen storm preparedness across North Carolina
- Positive Sentiment: South Carolina regulators approved Duke Energy’s new nonresidential demand response program, which lets customers earn bill credits while helping the utility manage peak demand and improve grid reliability. New Duke Energy program helps South Carolina nonresidential customers lower costs while supporting a growing grid
- Neutral Sentiment: Several articles note that investors are closely watching Duke Energy’s shares, but they do not point to a major new fundamental catalyst by themselves. Duke Energy Corporation (DUK) is Attracting Investor Attention: Here is What You Should Know
- Neutral Sentiment: Morgan Stanley cut its price target on Duke Energy to $132 from $141 while keeping an Equal Weight rating, which may temper sentiment but does not indicate a bearish call. Morgan Stanley Revises Duke Energy (DUK) Valuation Following Utility Sector Update
- Negative Sentiment: News that the Supreme Court affirmed Duke Energy’s rate hikes may keep regulatory risk in focus, since approved increases can still draw political and customer scrutiny. Duke Energy rate hikes affirmed by Supreme Court
Duke Energy Company Profile
Duke Energy Corporation is a U.S.-based electric power holding company headquartered in Charlotte, North Carolina. The company’s core business is the generation, transmission and distribution of electricity to residential, commercial and industrial customers. Duke Energy operates a mix of regulated electric utilities and non-regulated energy businesses, providing essential energy infrastructure and services across multiple states.
Its operating activities include owning and operating generation assets across a portfolio that encompasses nuclear, natural gas, coal, hydroelectric and an expanding array of renewable resources, as well as battery storage and grid modernization projects.
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