TIAA Trust National Association Grows Stock Position in Duke Energy Corporation $DUK

TIAA Trust National Association raised its holdings in Duke Energy Corporation (NYSE:DUK) by 4.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 166,300 shares of the utilities provider’s stock after buying an additional 7,144 shares during the quarter. TIAA Trust National Association’s holdings in Duke Energy were worth $19,492,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in shares of Duke Energy by 11.6% in 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 during the last quarter. Empowered Funds LLC raised its stake in shares of Duke Energy by 19.6% in the first quarter. Empowered Funds LLC now owns 23,162 shares of the utilities provider’s stock worth $2,825,000 after purchasing an additional 3,797 shares during the last quarter. Schnieders Capital Management LLC. raised its stake in shares of Duke Energy by 1.0% in the second quarter. Schnieders Capital Management LLC. now owns 31,238 shares of the utilities provider’s stock worth $3,686,000 after purchasing an additional 315 shares during the last quarter. AXA S.A. raised its stake in shares of Duke Energy by 523.4% in the second quarter. AXA S.A. now owns 42,233 shares of the utilities provider’s stock worth $4,983,000 after purchasing an additional 35,458 shares during the last quarter. Finally, Nebula Research & Development LLC purchased a new position in shares of Duke Energy in the second quarter worth about $954,000. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Stock Up 1.4%

Shares of DUK stock opened at $123.77 on Wednesday. The stock has a market cap of $96.49 billion, a P/E ratio of 18.95 and a beta of 0.39. Duke Energy Corporation has a twelve month low of $113.66 and a twelve month high of $134.49. The stock has a 50 day moving average of $126.55 and a 200 day moving average of $123.97. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data 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 business had revenue of $9.18 billion during 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%.The business’s revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.76 earnings per share. As a group, sell-side analysts expect that Duke Energy Corporation will post 6.71 EPS for the current year.

Duke Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th will be given a $1.065 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. Duke Energy’s payout ratio is 65.24%.

Wall Street Analysts Forecast Growth

DUK has been the subject of several research analyst reports. The Goldman Sachs Group raised their price objective on Duke Energy from $141.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. BMO Capital Markets reduced their price objective on Duke Energy from $139.00 to $138.00 in a research note on Wednesday, May 6th. UBS Group reduced their price objective on Duke Energy from $137.00 to $135.00 in a research note on Monday, May 11th. Barclays boosted their price objective on Duke Energy from $127.00 to $143.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Finally, Morgan Stanley decreased their price objective on Duke Energy from $141.00 to $132.00 in a report on Thursday, May 21st. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Duke Energy presently has an average rating of “Moderate Buy” and an average price target of $138.93.

Insider Buying and Selling

In other news, CEO Harry K. Sideris sold 20,000 shares of the business’s stock in a transaction that occurred 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 directly owned 96,102 shares in the company, valued at $11,952,205.74. The trade was a 17.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Louis E. Renjel sold 3,500 shares of the business’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 completion of the sale, 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. 0.12% of the stock is owned by insiders.

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.