State of Michigan Retirement System Has $24.94 Million Stock Holdings in Duke Energy Corporation $DUK

State of Michigan Retirement System boosted its position in shares of Duke Energy Corporation (NYSE:DUK) by 0.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 211,336 shares of the utilities provider’s stock after purchasing an additional 800 shares during the quarter. State of Michigan Retirement System’s holdings in Duke Energy were worth $24,938,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Activest Wealth Management lifted its holdings in Duke Energy by 98.1% during the 1st quarter. Activest Wealth Management now owns 212 shares of the utilities provider’s stock worth $26,000 after buying an additional 105 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Duke Energy in the 1st quarter valued at $27,000. N.E.W. Advisory Services LLC acquired a new position in shares of Duke Energy in the 1st quarter valued at $27,000. Mascoma Wealth Management LLC lifted its stake in shares of Duke Energy by 53.7% in the 2nd quarter. Mascoma Wealth Management LLC now owns 249 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 87 shares during the period. Finally, Financial Network Wealth Advisors LLC lifted its stake in shares of Duke Energy by 360.0% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 253 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 198 shares during the period. Institutional investors and hedge funds own 65.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on DUK shares. BTIG Research raised Duke Energy to a “strong-buy” rating in a research note on Wednesday, October 22nd. BMO Capital Markets increased their price target on Duke Energy from $132.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. TD Cowen started coverage on Duke Energy in a research note on Thursday, October 16th. They issued a “buy” rating and a $143.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Duke Energy from $131.00 to $136.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Finally, UBS Group increased their price target on Duke Energy from $131.00 to $137.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $138.00.

Duke Energy Price Performance

DUK opened at $124.49 on Monday. The company has a quick ratio of 0.42, a current ratio of 0.66 and a debt-to-equity ratio of 1.55. Duke Energy Corporation has a 12 month low of $105.20 and a 12 month high of $130.03. The company has a fifty day simple moving average of $123.89 and a 200 day simple moving average of $120.74. The stock has a market cap of $96.81 billion, a P/E ratio of 20.24, a P/E/G ratio of 3.05 and a beta of 0.44.

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

Duke Energy Dividend Announcement

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

Insider Transactions at Duke Energy

In other Duke Energy news, SVP Bonnie B. Titone sold 2,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was 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 owned 19,608 shares in the company, valued at approximately $2,438,843.04. This represents a 9.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the stock in a transaction dated 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 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 position. 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.