New York Life Investment Management LLC Increases Holdings in Duke Energy Corporation $DUK

New York Life Investment Management LLC grew its holdings in shares of Duke Energy Corporation (NYSE:DUK) by 2.0% in the second quarter, Holdings Channel reports. The institutional investor owned 105,786 shares of the utilities provider’s stock after purchasing an additional 2,072 shares during the period. New York Life Investment Management LLC’s holdings in Duke Energy were worth $12,483,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in DUK. Pinnacle Financial Partners Inc lifted its position in shares of Duke Energy by 9.9% during the 1st quarter. Pinnacle Financial Partners Inc now owns 127,419 shares of the utilities provider’s stock worth $14,451,000 after buying an additional 11,445 shares during the last quarter. Beacon Investment Advisory Services Inc. lifted its position in Duke Energy by 8.1% in the first quarter. Beacon Investment Advisory Services Inc. now owns 51,354 shares of the utilities provider’s stock valued at $6,264,000 after acquiring an additional 3,837 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Duke Energy by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 8,656,244 shares of the utilities provider’s stock valued at $1,055,087,000 after acquiring an additional 93,699 shares during the last quarter. Resolution Capital Ltd lifted its position in Duke Energy by 7.6% in the first quarter. Resolution Capital Ltd now owns 59,995 shares of the utilities provider’s stock valued at $7,318,000 after acquiring an additional 4,255 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its position in Duke Energy by 2.2% in the first quarter. D.A. Davidson & CO. now owns 234,464 shares of the utilities provider’s stock valued at $28,598,000 after acquiring an additional 4,948 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Down 1.4%

DUK opened at $125.70 on Wednesday. The business has a 50 day moving average price of $123.87 and a two-hundred day moving average price of $120.64. The company has a quick ratio of 0.42, a current ratio of 0.66 and a debt-to-equity ratio of 1.55. The company has a market cap of $97.74 billion, a PE ratio of 20.44, a P/E/G ratio of 3.13 and a beta of 0.44. Duke Energy Corporation has a 52 week low of $105.20 and a 52 week high of $130.03.

Duke Energy (NYSE:DUK) last released its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $1.25 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.04). Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The company had revenue of $7.51 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter last year, the company earned $1.18 EPS. Duke Energy’s revenue for the quarter was up 4.7% compared to the same quarter last year. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. As a group, research analysts anticipate that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be given a dividend of $1.065 per share. The ex-dividend date is Friday, November 14th. This represents a $4.26 dividend on an annualized basis and a yield of 3.4%. Duke Energy’s dividend payout ratio is presently 69.27%.

Wall Street Analysts Forecast Growth

DUK has been the subject of several research reports. Barclays boosted their target price on Duke Energy from $131.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Royal Bank Of Canada initiated coverage on Duke Energy in a research note on Monday. They issued a “sector perform” rating and a $143.00 price objective for the company. Wells Fargo & Company initiated coverage on Duke Energy in a research note on Monday. They issued an “equal weight” rating and a $126.00 price objective for the company. Morgan Stanley boosted their price objective on Duke Energy from $127.00 to $136.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Finally, Mizuho upped their price target on shares of Duke Energy from $132.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $138.00.

Insiders Place Their Bets

In related news, SVP Bonnie B. Titone sold 2,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total transaction of $248,760.00. Following the completion of the transaction, the senior vice president directly owned 19,608 shares of the company’s stock, valued at $2,438,843.04. This represents a 9.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $124.26, for a total value of $832,542.00. Following the transaction, the executive vice president directly owned 46,422 shares of the company’s stock, valued at approximately $5,768,397.72. This trade represents a 12.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.14% of the stock is currently owned by corporate insiders.

About Duke Energy

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.