Cary Street Partners Financial LLC Raises Stock Position in Duke Energy Corporation $DUK

Cary Street Partners Financial LLC raised its position in Duke Energy Corporation (NYSE:DUK) by 13.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 38,115 shares of the utilities provider’s stock after acquiring an additional 4,434 shares during the period. Cary Street Partners Financial LLC’s holdings in Duke Energy were worth $4,468,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Duke Energy by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider’s stock valued at $9,172,709,000 after acquiring an additional 1,957,592 shares during the last quarter. Northern Trust Corp increased its stake in Duke Energy by 0.4% during the third quarter. Northern Trust Corp now owns 7,758,700 shares of the utilities provider’s stock worth $960,139,000 after acquiring an additional 31,703 shares during the last quarter. Franklin Resources Inc. increased its stake in Duke Energy by 4.1% during the third quarter. Franklin Resources Inc. now owns 7,281,986 shares of the utilities provider’s stock worth $901,146,000 after acquiring an additional 288,499 shares during the last quarter. Capital Research Global Investors raised its position in Duke Energy by 0.3% in the third quarter. Capital Research Global Investors now owns 5,033,225 shares of the utilities provider’s stock valued at $622,862,000 after purchasing an additional 12,758 shares during the period. Finally, Caisse de depot et placement du Quebec lifted its stake in shares of Duke Energy by 19.1% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 2,613,595 shares of the utilities provider’s stock valued at $323,432,000 after purchasing an additional 419,992 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Insider Buying and Selling at Duke Energy

In related news, CEO Harry K. Sideris sold 20,000 shares of Duke Energy stock in a transaction 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 directly owned 96,102 shares in the company, valued at approximately $11,952,205.74. This trade represents a 17.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Louis E. Renjel sold 3,500 shares of the business’s stock in a transaction 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 transaction, the chief executive officer directly owned 21,415 shares of the company’s stock, valued at $2,680,087.25. The trade was a 14.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on DUK. UBS Group cut their price objective on Duke Energy from $137.00 to $135.00 in a research report on Monday, May 11th. Mizuho upped their target price on shares of Duke Energy from $130.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Truist Financial dropped their price target on shares of Duke Energy from $142.00 to $137.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Wall Street Zen raised shares of Duke Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, BTIG Research reaffirmed a “buy” rating and set a $141.00 price objective on shares of Duke Energy in a research report on Friday, January 30th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $139.07.

Duke Energy Stock Performance

Shares of Duke Energy stock opened at $125.08 on Wednesday. The stock has a market capitalization of $97.51 billion, a price-to-earnings ratio of 19.15 and a beta of 0.41. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.66 and a quick ratio of 0.44. The business has a 50-day moving average of $127.96 and a 200 day moving average of $124.05. Duke Energy Corporation has a 12 month low of $113.39 and a 12 month high of $134.49.

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

Duke Energy Dividend Announcement

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

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.