Rakuten Investment Management Inc. increased its stake in Duke Energy Corporation (NYSE:DUK – Free Report) by 532.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 102,299 shares of the utilities provider’s stock after acquiring an additional 86,113 shares during the period. Rakuten Investment Management Inc.’s holdings in Duke Energy were worth $12,022,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dorato Capital Management purchased a new position in Duke Energy in the fourth quarter worth $26,000. Evolution Wealth Management Inc. grew its position in Duke Energy by 1,111.1% in the fourth quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. KERR FINANCIAL PLANNING Corp purchased a new position in Duke Energy in the third quarter worth $27,000. Triumph Capital Management grew its position in Duke Energy by 68.6% in the fourth quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 94 shares in the last quarter. Finally, Cornerstone Financial Management LLC purchased a new position in Duke Energy in the fourth quarter worth $28,000. 65.31% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages recently issued reports on DUK. Mizuho upped their target price on shares of Duke Energy from $130.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Truist Financial cut their target price on shares of Duke Energy from $142.00 to $137.00 and set a “buy” rating for the company in a research report on Monday, May 18th. BMO Capital Markets reduced their target price on shares of Duke Energy from $139.00 to $138.00 in a report on Wednesday, May 6th. Morgan Stanley reduced their target price on shares of Duke Energy from $141.00 to $132.00 in a report on Thursday, May 21st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Duke Energy in a report on Monday, May 4th. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.93.
Duke Energy Price Performance
DUK stock opened at $125.92 on Wednesday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.44 and a current ratio of 0.66. Duke Energy Corporation has a 52 week low of $113.66 and a 52 week high of $134.49. The firm’s fifty day moving average is $125.89 and its 200 day moving average is $124.06. The firm has a market cap of $98.16 billion, a P/E ratio of 19.28 and a beta of 0.39.
Duke Energy (NYSE:DUK – Get Free Report) last released its earnings results on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, beating the consensus estimate of $1.87 by $0.06. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the firm earned $1.76 EPS. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. Research analysts predict that Duke Energy Corporation will post 6.71 earnings per share for the current year.
Duke Energy Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th were given a dividend of $1.065 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.26 annualized dividend and a yield of 3.4%. Duke Energy’s dividend payout ratio is presently 65.24%.
Trending Headlines about Duke Energy
Here are the key news stories impacting Duke Energy this week:
- Positive Sentiment: Duke Energy continues to draw investor interest as a reliable income stock, with articles highlighting its century-long record of quarterly dividends and its appeal as a defensive, “safe-haven” utility in a lower-rate environment. Article Title
- Positive Sentiment: The Duke Energy Foundation announced additional America250 grants in Florida, reinforcing the company’s community profile and ESG/charitable reputation. Article Title
- Positive Sentiment: The Foundation also completed its broader America250 grantmaking program, which may modestly support Duke Energy’s public image across its service territory. Article Title
- Neutral Sentiment: Coverage of Duke’s resource planning and clean-energy strategy suggests ongoing debate over future generation mix and capital spending, but it does not appear to be a near-term catalyst on its own. Article Title
- Neutral Sentiment: Commentary about Duke’s rate case and gas-plant plans reflects the company’s ongoing regulatory process, which can affect returns over time but is not yet a confirmed earnings hit. Article Title
- Negative Sentiment: A report saying North Carolina’s consumer advocate believes Duke is overcharging customers adds regulatory and political risk, which can weigh on sentiment if it leads to tougher oversight or rate pressure. Article Title
Insider Buying and Selling at Duke Energy
In other Duke Energy news, CEO Harry K. Sideris sold 20,000 shares of the stock in a transaction on Friday, May 8th. The shares were 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 of the company’s stock, valued at $11,952,205.74. This represents a 17.23% decrease in their position. The sale 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 the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $125.15, for a total transaction of $438,025.00. Following the sale, the chief executive officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.12% of the company’s stock.
About Duke Energy
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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