Capital Research Global Investors Boosts Stock Position in Duke Energy Corporation $DUK

Capital Research Global Investors lifted its position in Duke Energy Corporation (NYSE:DUK) by 0.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,041,923 shares of the utilities provider’s stock after purchasing an additional 8,698 shares during the quarter. Capital Research Global Investors’ holdings in Duke Energy were worth $590,964,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dorato Capital Management purchased a new position in shares of Duke Energy in the 4th quarter worth about $26,000. Evolution Wealth Management Inc. boosted its holdings in shares of Duke Energy by 1,111.1% in the 4th quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Duke Energy in the 3rd quarter worth about $27,000. Lodestone Wealth Management LLC purchased a new position in shares of Duke Energy in the 4th quarter worth about $30,000. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its holdings in Duke Energy by 300.0% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 280 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 210 shares during the period. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Duke Energy

In other news, CEO Harry K. Sideris sold 20,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $124.37, for a total value of $2,487,400.00. Following the completion of the transaction, the chief executive officer owned 96,102 shares of the company’s stock, valued at approximately $11,952,205.74. This represents a 17.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Louis E. Renjel sold 3,500 shares of the stock in a transaction that occurred on 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 directly owned 21,415 shares of the company’s stock, valued at $2,680,087.25. This represents a 14.05% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on DUK. Barclays increased their target price on Duke Energy from $127.00 to $143.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Jefferies Financial Group dropped their target price on Duke Energy from $143.00 to $138.00 in a report on Monday, May 11th. The Goldman Sachs Group increased their target price on Duke Energy from $141.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Truist Financial dropped their target price on Duke Energy from $142.00 to $137.00 and set a “buy” rating for the company in a report on Monday, May 18th. Finally, UBS Group dropped their target price on Duke Energy from $137.00 to $135.00 in a report on Monday, May 11th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $138.93.

Key Duke Energy News

Here are the key news stories impacting Duke Energy this week:

• Positive Sentiment: The U.S. Department of Energy selected Duke Energy for up to $61.8 million in grant funding to upgrade coal-fired plants in Kentucky and North Carolina, lifting total federal support for Duke projects to nearly $96 million. The funding should help improve reliability and may reduce customer costs. Article Title
• Positive Sentiment: Duke Energy said it sees data centers driving power demand growth at roughly 10x historic pace, which supports a longer-term growth story for utility load and capital investment. Article Title
• Positive Sentiment: Duke Energy also received a separate $61.8 million DOE grant headline from market coverage, reinforcing investor interest in federal support for its coal plant modernization efforts. Article Title
• Neutral Sentiment: Duke Energy Foundation announced $500,000 in grants for South Carolina emergency preparedness and another $500,000 for small-business support in North Carolina. These are positive for reputation, but likely limited direct stock impact. Article Title
• Negative Sentiment: North Carolina customers and consumer groups are pushing back hard against Duke Energy’s proposed 18% rate hike, which could increase regulatory scrutiny and weigh on sentiment if approval becomes difficult. Article Title
• Negative Sentiment: St. Petersburg approved a feasibility study on leaving Duke Energy Florida for a city-run utility, a reminder of customer dissatisfaction and a potential long-term competitive/regulatory risk. Article Title

Duke Energy Stock Performance

Shares of DUK stock opened at $124.28 on Monday. The stock has a fifty day moving average of $126.82 and a 200 day moving average of $123.97. Duke Energy Corporation has a 52 week low of $113.66 and a 52 week high of $134.49. The firm has a market capitalization of $96.89 billion, a price-to-earnings ratio of 19.03 and a beta of 0.39. The company has a quick ratio of 0.44, a current ratio of 0.66 and a debt-to-equity ratio of 1.45.

Duke Energy (NYSE:DUK) last announced its earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.06. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the prior year, the company earned $1.76 EPS. The business’s revenue was up 11.3% compared to the same quarter last year. As a group, research analysts expect that Duke Energy Corporation will post 6.71 earnings per share for the current year.

Duke Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th will be given a $1.065 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $4.26 annualized dividend and a dividend yield of 3.4%. Duke Energy’s dividend payout ratio is currently 65.24%.

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.