Cohen & Steers Inc. Increases Stock Holdings in Duke Energy Corporation $DUK

Cohen & Steers Inc. raised its stake in Duke Energy Corporation (NYSE:DUK) by 83.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,711,445 shares of the utilities provider’s stock after purchasing an additional 777,878 shares during the period. Cohen & Steers Inc. owned 0.22% of Duke Energy worth $200,598,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in DUK. Vanguard Group Inc. grew its position in shares of Duke Energy by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider’s stock worth $9,172,709,000 after acquiring an additional 1,957,592 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Duke Energy by 13.1% during the fourth quarter. Franklin Resources Inc. now owns 8,236,893 shares of the utilities provider’s stock worth $965,446,000 after acquiring an additional 954,907 shares during the last quarter. ANTIPODES PARTNERS Ltd purchased a new position in shares of Duke Energy during the third quarter worth approximately $86,309,000. VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in shares of Duke Energy by 447.3% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 513,905 shares of the utilities provider’s stock worth $60,235,000 after acquiring an additional 420,005 shares during the last quarter. Finally, Caisse de depot et placement du Quebec grew its position in shares of Duke Energy by 19.1% during the third quarter. Caisse de depot et placement du Quebec now owns 2,613,595 shares of the utilities provider’s stock worth $323,432,000 after acquiring an additional 419,992 shares during the last quarter. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Duke Energy

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

Duke Energy Price Performance

Shares of NYSE DUK opened at $124.91 on Friday. 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 stock has a fifty day moving average price of $126.16 and a 200 day moving average price of $124.01. Duke Energy Corporation has a 1-year low of $113.66 and a 1-year high of $134.49. The company has a market cap of $97.38 billion, a PE ratio of 19.13 and a beta of 0.39.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share 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 the consensus estimate of $8.44 billion. During the same period last year, the company earned $1.76 earnings per share. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. Sell-side analysts forecast that Duke Energy Corporation will post 6.71 EPS for the current year.

Duke Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Friday, May 15th will be issued 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 currently 65.24%.

More Duke Energy News

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

• Positive Sentiment: Analysts and market commentary are highlighting Duke Energy as a defensive, low-volatility utility pick as inflation jumps and oil prices surge, which can draw investors toward stable dividend names like DUK. 3 Low-Beta Utility Stocks to Buy as Inflation Jumps to Three-Year High
• Positive Sentiment: A Seeking Alpha piece argues Duke Energy could keep rising, reinforcing bullish sentiment around the company’s earnings outlook, utility stability, and rate-driven growth profile. Duke Energy: Why This Utility Could Keep Rising
• Positive Sentiment: Duke Energy received up to $96 million in federal coal plant grants, which could help offset refurbishment costs and support grid reliability without passing as much expense to customers. How Investors Are Reacting To Duke Energy (DUK) Winning US$96 Million In Federal Coal Plant Grants
• Positive Sentiment: Brokerage coverage remains constructive, with Duke Energy carrying an average “Moderate Buy” recommendation. Duke Energy Corporation (NYSE:DUK) Given Average Recommendation of “Moderate Buy” by Brokerages

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DUK. JPMorgan Chase & Co. lowered their target price on shares of Duke Energy from $139.00 to $136.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Truist Financial lowered their target price on shares of Duke Energy from $142.00 to $137.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Wall Street Zen upgraded shares of Duke Energy from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Morgan Stanley lowered their target price on shares of Duke Energy from $141.00 to $132.00 in a research report on Thursday, May 21st. Finally, 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. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Duke Energy currently has an average rating of “Moderate Buy” and an average price target of $138.93.

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.