Greenland Capital Management LP Trims Stock Position in Duke Energy Corporation $DUK

Greenland Capital Management LP trimmed its position in Duke Energy Corporation (NYSE:DUK) by 42.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,540 shares of the utilities provider’s stock after selling 73,034 shares during the quarter. Duke Energy makes up approximately 1.2% of Greenland Capital Management LP’s holdings, making the stock its 7th largest position. Greenland Capital Management LP’s holdings in Duke Energy were worth $12,194,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Rice Partnership LLC increased its stake in Duke Energy by 3.6% during the third quarter. Rice Partnership LLC now owns 30,643 shares of the utilities provider’s stock valued at $3,792,000 after purchasing an additional 1,074 shares during the last quarter. Mufg Securities Americas Inc. boosted its holdings in shares of Duke Energy by 21.7% in the 3rd quarter. Mufg Securities Americas Inc. now owns 20,970 shares of the utilities provider’s stock valued at $2,595,000 after buying an additional 3,744 shares during the period. Baldwin Investment Management LLC boosted its holdings in shares of Duke Energy by 6.1% in the 3rd quarter. Baldwin Investment Management LLC now owns 7,944 shares of the utilities provider’s stock valued at $983,000 after buying an additional 455 shares during the period. Compound Planning Inc. grew its position in shares of Duke Energy by 7.0% during the 3rd quarter. Compound Planning Inc. now owns 15,086 shares of the utilities provider’s stock valued at $1,867,000 after buying an additional 992 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Duke Energy by 3.7% during the third quarter. EverSource Wealth Advisors LLC now owns 9,559 shares of the utilities provider’s stock worth $1,183,000 after acquiring an additional 341 shares during the period. 65.31% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Louis E. Renjel sold 6,800 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $127.67, for a total transaction of $868,156.00. Following the transaction, the chief executive officer owned 22,007 shares in the company, valued at $2,809,633.69. This trade represents a 23.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Morgan Stanley set a $139.00 target price on Duke Energy in a report on Friday. Mizuho set a $130.00 price objective on Duke Energy in a research report on Tuesday, February 10th. Barclays dropped their target price on Duke Energy from $135.00 to $127.00 and set an “overweight” rating on the stock in a research report on Thursday, January 15th. JPMorgan Chase & Co. reduced their price target on shares of Duke Energy from $136.00 to $126.00 and set a “neutral” rating for the company in a report on Thursday, December 11th. Finally, Jefferies Financial Group increased their price objective on shares of Duke Energy from $125.00 to $141.00 and gave the stock a “hold” rating in a report on Tuesday, February 17th. Eleven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $135.75.

Duke Energy Trading Up 0.7%

Shares of DUK stock opened at $127.64 on Tuesday. Duke Energy Corporation has a 1 year low of $111.22 and a 1 year high of $130.03. The firm has a market capitalization of $99.26 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 2.75 and a beta of 0.51. The stock has a fifty day moving average of $120.07 and a two-hundred day moving average of $121.94. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.33 and a current ratio of 0.55.

Duke Energy (NYSE:DUK) last issued its quarterly earnings data on Monday, February 9th. The utilities provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.01. The business had revenue of $7.94 billion for the quarter, compared to analysts’ expectations of $7.57 billion. Duke Energy had a net margin of 15.41% and a return on equity of 9.66%. During the same period in the previous year, the business earned $1.66 earnings per share. As a group, research analysts expect that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 13th will be paid a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, February 13th. Duke Energy’s dividend payout ratio is currently 67.41%.

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.