Passumpsic Savings Bank Makes New $698,000 Investment in Duke Energy Corporation $DUK

Passumpsic Savings Bank purchased a new position in Duke Energy Corporation (NYSE:DUK) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,955 shares of the utilities provider’s stock, valued at approximately $698,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DUK. Brighton Jones LLC grew its stake in Duke Energy by 11.6% in the 4th quarter. Brighton Jones LLC now owns 6,754 shares of the utilities provider’s stock worth $728,000 after buying an additional 700 shares in the last quarter. Empowered Funds LLC grew its stake in Duke Energy by 19.6% in the 1st 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 in the last quarter. Schnieders Capital Management LLC. grew its stake in Duke Energy by 1.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 31,238 shares of the utilities provider’s stock worth $3,686,000 after buying an additional 315 shares in the last quarter. AXA S.A. boosted its stake in shares of 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 purchasing an additional 35,458 shares in the last quarter. Finally, Nebula Research & Development LLC bought a new position in shares of Duke Energy during the 2nd quarter valued at $954,000. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Trading Up 0.0%

Shares of DUK opened at $120.98 on Monday. The stock has a market capitalization of $94.31 billion, a P/E ratio of 18.53 and a beta of 0.41. The company has a quick ratio of 0.44, a current ratio of 0.66 and a debt-to-equity ratio of 1.45. The firm has a fifty day simple moving average of $128.90 and a two-hundred day simple moving average of $124.03. Duke Energy Corporation has a twelve month low of $113.39 and a twelve month high of $134.49.

Duke Energy (NYSE:DUK) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.87 by $0.06. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period in the prior year, the business earned $1.76 EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, research analysts anticipate that Duke Energy Corporation will post 6.7 EPS for the current year.

Duke Energy Announces Dividend

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

Insiders Place Their Bets

In other Duke Energy news, CEO Harry K. Sideris sold 20,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were 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 represents a 17.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Louis E. Renjel sold 3,500 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $125.15, for a total transaction of $438,025.00. Following the completion of the transaction, the chief executive officer 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. In the last ninety days, insiders sold 24,462 shares of company stock worth $3,048,426. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DUK. Morgan Stanley reduced their target price on shares of Duke Energy from $142.00 to $141.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. Mizuho increased their target price on shares of Duke Energy from $130.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. BTIG Research reaffirmed a “buy” rating and set a $141.00 target price on shares of Duke Energy in a report on Friday, January 30th. Barclays increased their target price on shares of Duke Energy from $127.00 to $143.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Finally, Wall Street Zen raised shares of Duke Energy from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $140.00.

Duke Energy News Summary

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

• Positive Sentiment: Duke Energy held a groundbreaking ceremony for its Cayuga Energy Complex, signaling continued investment in its generation and infrastructure buildout, which can support future regulated-rate growth. Duke Energy holds a groundbreaking ceremony for their Cayuga Energy Complex
• Positive Sentiment: The company reported that no toxic algae was found at the Lake Norman site after an earlier state finding, which may reduce environmental and reputational concerns. Duke Energy: No toxic algae found at Lake Norman site where state said it was
• Neutral Sentiment: DUK remains a heavily watched stock, with investor attention likely reflecting interest in its defensive utility profile and upcoming rate/regulatory developments. Duke Energy Corporation (DUK) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Reports that Duke Energy’s North Carolina rate-increase hearing was postponed could delay a key catalyst for earnings and cash-flow improvement, but the impact is still uncertain. Duke Energy rate-increase hearing postponed over missed scheduling deadline
• Neutral Sentiment: The company’s claims that a merger will save customers $2.3 billion and news about combining its two North Carolina utilities may help long-term efficiency, but investors are likely waiting to see regulatory details. Duke Energy claims merger to save customers $2.3 billion, double initial estimate
• Negative Sentiment: Questions around North Carolina policy and legal issues tied to Duke Energy’s solar plans could add uncertainty to future capital spending and regulatory approval. Shunning the sunshine? NC order for Duke Energy to hit brakes on solar raises policy, legal questions

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.