AMG National Trust Bank raised its position in shares of Duke Energy Corporation (NYSE:DUK – Free Report) by 35.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 29,846 shares of the utilities provider’s stock after purchasing an additional 7,883 shares during the period. AMG National Trust Bank’s holdings in Duke Energy were worth $3,908,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Sharp Wealth Advisory LLC raised its position in shares of Duke Energy by 4.5% during the 1st quarter. Sharp Wealth Advisory LLC now owns 1,876 shares of the utilities provider’s stock valued at $246,000 after purchasing an additional 81 shares during the period. Absher Wealth Management LLC boosted its holdings in Duke Energy by 2.3% in the 1st quarter. Absher Wealth Management LLC now owns 3,648 shares of the utilities provider’s stock worth $478,000 after buying an additional 81 shares during the period. A4 Wealth Advisors LLC increased its stake in Duke Energy by 3.3% in the 4th quarter. A4 Wealth Advisors LLC now owns 2,597 shares of the utilities provider’s stock worth $304,000 after buying an additional 82 shares in the last quarter. Elm Partners Management LLC raised its holdings in Duke Energy by 0.9% during the fourth quarter. Elm Partners Management LLC now owns 9,254 shares of the utilities provider’s stock valued at $1,085,000 after acquiring an additional 83 shares during the period. Finally, CYBER HORNET ETFs LLC raised its holdings in Duke Energy by 4.1% during the third quarter. CYBER HORNET ETFs LLC now owns 2,113 shares of the utilities provider’s stock valued at $261,000 after acquiring an additional 83 shares during the period. 65.31% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, CEO Harry K. Sideris sold 20,000 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $124.37, for a total value of $2,487,400.00. Following the sale, the chief executive officer directly owned 96,102 shares in the company, valued at $11,952,205.74. The trade was a 17.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Louis E. Renjel sold 3,500 shares of Duke Energy 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 completion of the transaction, the chief executive officer owned 21,415 shares of the company’s stock, valued at approximately $2,680,087.25. This represents a 14.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.12% of the company’s stock.
Duke Energy Trading Down 0.3%
Duke Energy (NYSE:DUK – Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.06. The company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.44 billion. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The firm’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.76 earnings per share. Equities research analysts predict that Duke Energy Corporation will post 6.71 EPS for the current fiscal year.
Duke Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th were paid a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, May 15th. Duke Energy’s dividend payout ratio (DPR) is presently 65.24%.
More Duke Energy News
Here are the key news stories impacting Duke Energy this week:
- Positive Sentiment: Duke Energy declared a quarterly dividend of $1.085 per share, up $0.02, reinforcing its appeal as a income-focused utility stock. Duke Energy announces dividend payments to shareholders
- Positive Sentiment: Reports that Duke Energy and North Carolina officials reached a settlement over proposed rate hikes could reduce regulatory uncertainty and support future earnings. Duke Energy, state officials reach settlement in NC electric rate hike case
- Positive Sentiment: The company’s push toward nuclear power as offshore wind becomes less attractive may be viewed as a long-term strategic move to meet rising power demand from data centers and industrial customers. Duke Energy (DUK) Is Betting On Nuclear As Offshore Wind Loses Favor
- Neutral Sentiment: Clearwater is considering a 30-year agreement with Duke Energy to maintain the local power grid, which signals ongoing infrastructure relationships but does not appear to be a near-term earnings catalyst. Clearwater set to vote on 30-year agreement to maintain Duke Energy power grid
- Negative Sentiment: Media reports that vulnerable customers may lose monthly bill credits and that utility companies sought record rate increases could keep public and regulatory scrutiny on Duke Energy’s pricing practices. Vulnerable Duke Energy customers set to lose monthly bill credit many don’t know they receive Utilities sought record rate increases this spring as Duke’s request remains before NC regulators
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the company. Capitol Sec Mgt lowered Duke Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Wall Street Zen raised Duke Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Barclays dropped their price target on Duke Energy from $143.00 to $134.00 and set an “overweight” rating for the company in a research note on Thursday, June 18th. BTIG Research reaffirmed a “buy” rating and set a $139.00 price objective on shares of Duke Energy in a report on Tuesday, June 2nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Duke Energy in a research report on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Duke Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.33.
View Our Latest Analysis on DUK
Duke Energy 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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