Duke Energy Corporation $DUK Shares Acquired by Vestcor Inc

Vestcor Inc increased its position in shares of Duke Energy Corporation (NYSE:DUK) by 27.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 184,418 shares of the utilities provider’s stock after buying an additional 39,230 shares during the period. Vestcor Inc’s holdings in Duke Energy were worth $21,616,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DUK. Brighton Jones LLC raised its holdings in Duke Energy by 11.6% during the fourth quarter. Brighton Jones LLC now owns 6,754 shares of the utilities provider’s stock worth $728,000 after purchasing an additional 700 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Duke Energy by 19.6% during the first 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 period. Schnieders Capital Management LLC. grew its stake in shares of Duke Energy by 1.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 31,238 shares of the utilities provider’s stock valued at $3,686,000 after purchasing an additional 315 shares during the last quarter. AXA S.A. increased its stake in Duke Energy by 523.4% in the 2nd 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 period. Finally, Nebula Research & Development LLC acquired a new position in shares of Duke Energy during the second quarter worth about $954,000. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy News Roundup

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

Insider Activity at Duke Energy

In related 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 completion of the sale, the chief executive officer owned 96,102 shares of the company’s stock, valued at $11,952,205.74. This represents a 17.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Louis E. Renjel sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were 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. This trade represents a 14.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on DUK shares. BMO Capital Markets dropped their price objective on Duke Energy from $139.00 to $138.00 in a report on Wednesday, May 6th. Barclays upped their price objective on Duke Energy from $127.00 to $143.00 and gave the company an “overweight” rating in a research report on Tuesday, April 7th. Mizuho raised their target price on shares of Duke Energy from $130.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. BTIG Research reaffirmed a “buy” rating and set a $139.00 price objective on shares of Duke Energy in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut their target price on Duke Energy from $139.00 to $136.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $138.93.

Duke Energy Stock Performance

Shares of DUK stock opened at $124.28 on Friday. The firm has a market capitalization of $96.89 billion, a P/E ratio of 19.03 and a beta of 0.39. Duke Energy Corporation has a 12 month low of $113.66 and a 12 month high of $134.49. 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 company’s fifty day moving average price is $126.82 and its two-hundred day moving average price is $123.98.

Duke Energy (NYSE:DUK) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.06. The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.44 billion. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.Duke Energy’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.76 EPS. On average, research analysts anticipate that Duke Energy Corporation will post 6.71 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th will be given a dividend of $1.065 per share. 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 (DPR) is presently 65.24%.

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.