Northstar Financial Companies Inc. cut its holdings in Duke Energy Corporation (NYSE:DUK – Free Report) by 39.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,144 shares of the utilities provider’s stock after selling 4,053 shares during the period. Northstar Financial Companies Inc.’s holdings in Duke Energy were worth $805,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in DUK. Basso Capital Management L.P. bought a new stake in Duke Energy during the 4th quarter worth about $25,000. Dorato Capital Management bought a new position in shares of Duke Energy in the 4th quarter valued at about $26,000. Evolution Wealth Management Inc. increased its position in shares of Duke Energy by 1,111.1% in the fourth quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. KERR FINANCIAL PLANNING Corp bought a new stake in Duke Energy during the third quarter worth about $27,000. Finally, Triumph Capital Management boosted its position in Duke Energy by 68.6% during the fourth quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 94 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.
Duke Energy Stock Performance
Shares of DUK stock opened at $126.48 on Wednesday. Duke Energy Corporation has a 52 week low of $113.89 and a 52 week high of $134.49. The company has a market capitalization of $98.60 billion, a price-to-earnings ratio of 19.37 and a beta of 0.38. The company has a 50-day simple moving average of $124.87 and a 200 day simple moving average of $125.31. 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 Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be issued a dividend of $1.085 per share. This represents a $4.34 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, August 14th. This is an increase from Duke Energy’s previous quarterly dividend of $1.06. Duke Energy’s payout ratio is 65.24%.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on DUK. Mizuho cut their price objective on Duke Energy from $139.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, June 18th. Morgan Stanley boosted their target price on shares of Duke Energy from $132.00 to $136.00 in a report on Wednesday, June 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Duke Energy in a research note on Monday, May 4th. Capitol Sec Mgt downgraded shares of Duke Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Finally, Barclays lowered their price objective on shares of Duke Energy from $143.00 to $134.00 and set an “overweight” rating on the stock in a research note on Thursday, June 18th. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Duke Energy currently has an average rating of “Moderate Buy” and a consensus price target of $138.33.
Read Our Latest Research Report on DUK
Insider Buying and Selling at Duke Energy
In other news, CEO Harry K. Sideris sold 20,000 shares of Duke Energy stock in a transaction on 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 of the company’s stock, valued at approximately $11,952,205.74. This trade represents a 17.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Louis E. Renjel sold 3,500 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $125.15, for a total transaction of $438,025.00. Following the completion of the transaction, the chief executive officer owned 21,415 shares in the company, valued at $2,680,087.25. This trade represents a 14.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.12% of the company’s stock.
Key Headlines Impacting Duke Energy
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
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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