First Citizens Bank & Trust Co. Raises Stock Position in Duke Energy Corporation $DUK

First Citizens Bank & Trust Co. grew its stake in Duke Energy Corporation (NYSE:DUK) by 87.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 183,947 shares of the utilities provider’s stock after purchasing an additional 85,785 shares during the period. First Citizens Bank & Trust Co.’s holdings in Duke Energy were worth $24,086,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC lifted its holdings in shares of Duke Energy by 11.6% in the 4th quarter. Brighton Jones LLC now owns 6,754 shares of the utilities provider’s stock valued at $728,000 after purchasing an additional 700 shares during the last quarter. Empowered Funds LLC grew its stake in Duke Energy by 19.6% during the 1st quarter. Empowered Funds LLC now owns 23,162 shares of the utilities provider’s stock worth $2,825,000 after buying an additional 3,797 shares during the last quarter. Schnieders Capital Management LLC. increased its position in Duke Energy by 1.0% during the second quarter. Schnieders Capital Management LLC. now owns 31,238 shares of the utilities provider’s stock worth $3,686,000 after buying an additional 315 shares during the period. AXA S.A. lifted its stake in Duke Energy by 523.4% in the second quarter. AXA S.A. now owns 42,233 shares of the utilities provider’s stock valued at $4,983,000 after buying an additional 35,458 shares during the last quarter. Finally, Nebula Research & Development LLC purchased a new stake in Duke Energy in the second quarter valued at approximately $954,000. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Trading Down 0.1%

Shares of DUK stock opened at $125.77 on Wednesday. The business’s 50 day moving average is $124.92 and its two-hundred day moving average is $125.59. Duke Energy Corporation has a twelve month low of $113.89 and a twelve month high of $134.49. The company has a market capitalization of $98.05 billion, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 2.77 and a beta of 0.38. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45.

Duke Energy (NYSE:DUK) last released 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 return on equity of 9.73% and a net margin of 15.49%.The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the prior year, the business earned $1.76 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. Equities analysts forecast that Duke Energy Corporation will post 6.72 EPS for the current year.

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th will be paid a $1.085 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $4.34 annualized dividend 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 is presently 66.46%.

Duke Energy News Roundup

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

• Positive Sentiment: Duke Energy announced or was highlighted alongside a dividend increase, reinforcing its appeal as a reliable income stock and supporting the case for long-term utility earnings growth tied to data center demand. Industrial and Utility Giants Boost Dividends as Data Center Tailwinds Build (DUK)
• Positive Sentiment: The company reached a North Carolina rate settlement that cuts the proposed increase by more than half, which could reduce regulatory friction and improve the odds of eventual approval versus the original request. Duke Energy reaches deal to cut North Carolina rate hike by over half
• Neutral Sentiment: Analysts remain constructive overall, but BMO Capital Markets trimmed its price target to $134 from $138 while keeping an outperform rating, suggesting modest upside despite a slightly softer near-term valuation view. Benzinga report on BMO price target cut
• Neutral Sentiment: Industry commentary continues to point to long-term utility tailwinds from grid investment and rising power demand, especially from data centers, which supports the broader investment case for Duke Energy. Zacks Industry Outlook Highlights NextEra Energy, Duke Energy, American Electric Power and Ameren
• Negative Sentiment: North Carolina’s attorney general rejected the settlement and said even the reduced rate increase is still too high, raising the risk of more pushback and potentially slowing or complicating Duke’s ability to pass through higher costs to customers. NC AG rejects Duke Energy rate settlement; residential bills could rise 9.5%

Insiders Place Their Bets

In other news, CEO Harry K. Sideris sold 20,000 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the transaction, the chief executive officer directly owned 96,102 shares in the company, valued at $11,952,205.74. The trade was a 17.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Louis E. Renjel sold 3,500 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $125.15, for a total transaction of $438,025.00. Following 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DUK. Wall Street Zen upgraded shares of Duke Energy from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. JPMorgan Chase & Co. upped their price target on shares of Duke Energy from $136.00 to $141.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Mizuho decreased their price target on shares of Duke Energy from $139.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, June 18th. 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, Weiss Ratings restated a “buy (b)” rating on shares of Duke Energy in a research note on Monday, May 4th. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $138.47.

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.