Duke Energy Corporation $DUK Shares Purchased by Assetmark Inc.

Assetmark Inc. lifted its position in Duke Energy Corporation (NYSE:DUK) by 14.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 141,471 shares of the utilities provider’s stock after purchasing an additional 17,802 shares during the quarter. Assetmark Inc.’s holdings in Duke Energy were worth $18,524,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Basso Capital Management L.P. purchased a new stake in Duke Energy in the fourth quarter valued at approximately $25,000. Dorato Capital Management acquired a new stake in shares of Duke Energy in the fourth quarter valued at $26,000. Evolution Wealth Management Inc. grew its stake in Duke Energy by 1,111.1% during 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. Triumph Capital Management grew its stake in Duke Energy by 68.6% during the 4th quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 94 shares in the last quarter. Finally, Cornerstone Financial Management LLC purchased a new stake in Duke Energy during the 4th quarter worth about $28,000. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Trading Up 0.0%

Shares of Duke Energy stock opened at $125.04 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. The company has a fifty day simple moving average of $124.89 and a 200-day simple moving average of $125.48. The stock has a market cap of $97.48 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 2.75 and a beta of 0.38. Duke Energy Corporation has a 12-month low of $113.89 and a 12-month high of $134.49.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, topping 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 firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period last year, the business earned $1.76 EPS. Duke Energy’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts forecast that Duke Energy Corporation will post 6.72 EPS for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be paid a dividend of $1.085 per share. The ex-dividend date is Friday, August 14th. This represents a $4.34 dividend on an annualized basis and a yield of 3.5%. This is an increase from Duke Energy’s previous quarterly dividend of $1.06. Duke Energy’s dividend payout ratio (DPR) is currently 65.24%.

Duke Energy News Roundup

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

• Positive Sentiment: Truist raised its price target on Duke Energy to $138 and reiterated a Buy rating, signaling confidence in the utility’s earnings outlook and suggesting meaningful upside from current levels. Benzinga report on Truist rating update
• Positive Sentiment: JPMorgan also lifted its price target to $141, even while keeping a Neutral rating, which still reflects expectations for solid longer-term value creation. Benzinga report on JPMorgan target increase
• Positive Sentiment: Recent commentary highlighted Duke Energy as one of the utilities best positioned for long-term growth thanks to its strong customer base and large capital expenditure program, with analysts pointing to contracted load and new demand from data centers as supportive of future earnings. Seeking Alpha article
• Neutral Sentiment: Duke Energy is expected to report second-quarter results next month, and analysts are looking for a modest earnings increase, keeping attention on whether the company can deliver on its growth plans. Barchart article
• Neutral Sentiment: Local coverage suggests Clearwater may renew its long-term electricity contract with Duke Energy, which would help preserve customer relationships and support revenue stability. Yahoo Finance article
• Negative Sentiment: North Carolina’s attorney general is challenging proposed Duke Energy Progress rate increases, adding another regulatory hurdle that could limit future pricing power and earnings growth. MSN article
• Negative Sentiment: Additional reports say AG Jeff Jackson is seeking to block nearly $1 billion in Duke Energy rate hikes over the next two years, reinforcing investor concerns about regulatory pushback on returns. Yahoo News article

Insiders Place Their Bets

In other Duke Energy news, CEO Louis E. Renjel sold 3,500 shares of the company’s 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 completion of the transaction, the chief executive officer owned 21,415 shares in the company, valued at approximately $2,680,087.25. This represents a 14.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Harry K. Sideris sold 20,000 shares of the firm’s 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 $11,952,205.74. This trade represents a 17.23% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

DUK has been the subject of several recent research reports. Truist Financial lifted their price objective on Duke Energy from $137.00 to $138.00 and gave the company a “buy” rating in a research note on Friday. Wall Street Zen upgraded shares of Duke Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. BTIG Research reaffirmed a “buy” rating and issued a $139.00 target price on shares of Duke Energy in a report on Tuesday, June 2nd. Barclays lowered their price target on shares of Duke Energy from $143.00 to $134.00 and set an “overweight” rating for the company in a report on Thursday, June 18th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Duke Energy in a research report on Monday, May 4th. Nine investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $138.73.

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.