CIBC Asset Management Inc Raises Holdings in Duke Energy Corporation $DUK

CIBC Asset Management Inc lifted its holdings in shares of Duke Energy Corporation (NYSE:DUK) by 23.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 380,636 shares of the utilities provider’s stock after purchasing an additional 72,955 shares during the period. CIBC Asset Management Inc’s holdings in Duke Energy were worth $44,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Duke Energy by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider’s stock worth $9,172,709,000 after buying an additional 1,957,592 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Duke Energy by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 19,292,633 shares of the utilities provider’s stock worth $2,266,675,000 after buying an additional 230,375 shares in the last quarter. Northern Trust Corp raised its stake in shares of Duke Energy by 0.4% during the 3rd quarter. Northern Trust Corp now owns 7,758,700 shares of the utilities provider’s stock worth $960,139,000 after buying an additional 31,703 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Duke Energy by 4.1% during the 3rd quarter. Franklin Resources Inc. now owns 7,281,986 shares of the utilities provider’s stock worth $901,146,000 after buying an additional 288,499 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in shares of Duke Energy by 0.3% during the 3rd quarter. Capital Research Global Investors now owns 5,033,225 shares of the utilities provider’s stock worth $622,862,000 after buying an additional 12,758 shares in the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Duke Energy news, CEO Harry K. Sideris sold 20,000 shares of the 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 sale, the chief executive officer owned 96,102 shares in the company, valued at approximately $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 can be accessed through this link. Also, CEO Louis E. Renjel sold 3,500 shares of the 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 sale, the chief executive officer owned 21,415 shares in the company, 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 currently owned by corporate insiders.

Key Headlines Impacting Duke Energy

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

• Positive Sentiment: Duke Energy’s site readiness work helped attract a $1.2 billion advanced manufacturing project in Cherokee County, underscoring its role in supporting industrial development and future power demand. Duke Energy site readiness efforts help land 1.2 billion advanced manufacturing project in Cherokee County
• Positive Sentiment: A separate report highlighted Duke Energy’s efforts to control costs amid rising power demand from population growth and data centers, which could support long-term earnings if it manages load growth efficiently. Inside Duke Energy’s plans to control costs amid surge in power demand from population growth, data centers

Duke Energy Price Performance

Shares of NYSE:DUK opened at $121.12 on Thursday. The business’s fifty day moving average price is $127.00 and its two-hundred day moving average price is $123.99. The stock has a market cap of $94.43 billion, a PE ratio of 18.55 and a beta of 0.39. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.44 and a current ratio of 0.66. Duke Energy Corporation has a one year low of $113.66 and a one year high of $134.49.

Duke Energy (NYSE:DUK) last announced its earnings results on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.06. The firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the firm earned $1.76 EPS. On average, analysts forecast that Duke Energy Corporation will post 6.71 EPS for the current fiscal year.

Duke Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th will be issued a dividend of $1.065 per share. This represents a $4.26 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Friday, May 15th. Duke Energy’s dividend payout ratio is 65.24%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DUK. Mizuho raised their price objective on Duke Energy from $130.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. dropped their price objective on Duke Energy from $139.00 to $136.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Wall Street Zen raised Duke Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Evercore raised their price objective on Duke Energy from $139.00 to $140.00 in a research note on Monday, May 11th. Finally, Jefferies Financial Group dropped their price objective on Duke Energy from $143.00 to $138.00 in a research note on Monday, May 11th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.