Duke Energy Corporation $DUK Stake Raised by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC lifted its stake in Duke Energy Corporation (NYSE:DUK) by 94.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,385 shares of the utilities provider’s stock after purchasing an additional 19,093 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Duke Energy were worth $5,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DUK. Brighton Jones LLC increased 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 acquiring an additional 700 shares during the last quarter. Empowered Funds LLC increased its position 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 purchasing an additional 3,797 shares during the last quarter. Schnieders Capital Management LLC. lifted its holdings in shares of Duke Energy by 1.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 31,238 shares of the utilities provider’s stock valued at $3,686,000 after buying an additional 315 shares during the last quarter. AXA S.A. grew 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 buying an additional 35,458 shares in the last quarter. Finally, Nebula Research & Development LLC acquired a new position in Duke Energy in the second quarter worth approximately $954,000. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy News Summary

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

• Positive Sentiment: Morgan Stanley raised its price target on Duke Energy to $136 from $132, signaling about 8.7% upside from recent trading levels and reinforcing a constructive view on the utility. Morgan Stanley adjusts price target on Duke Energy to 136 from 132, maintains Equal Weight rating
• Positive Sentiment: Two articles highlighted Duke Energy as one of the better S&P 500 dividend stocks, pointing to its 3.41% annual dividend yield and defensive utility profile, which may appeal to income-focused investors. Is Duke Energy (DUK) One of the Best S&P 500 Stocks to Buy for Dividends?
• Positive Sentiment: Duke Energy Foundation announced more than $550,000 in America250 grants in South Carolina and North Carolina, a modest positive for sentiment and brand image but not a major financial driver. Duke Energy Foundation completes more than $550,000 in grants

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DUK shares. Wells Fargo & Company lifted their target price on shares of Duke Energy from $135.00 to $136.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. BTIG Research restated a “buy” rating and set a $139.00 price target on shares of Duke Energy in a report on Tuesday, June 2nd. Jefferies Financial Group reduced their price objective on shares of Duke Energy from $143.00 to $138.00 in a research note on Monday, May 11th. BMO Capital Markets decreased their price objective on shares of Duke Energy from $139.00 to $138.00 in a report on Wednesday, May 6th. Finally, Evercore raised their target price on Duke Energy from $139.00 to $140.00 in a report on Monday, May 11th. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Duke Energy has an average rating of “Moderate Buy” and an average target price of $138.33.

Duke Energy Trading Up 1.0%

NYSE:DUK opened at $126.33 on Thursday. The company’s 50 day moving average is $125.03 and its 200-day moving average is $124.22. The company has a quick ratio of 0.44, a current ratio of 0.66 and a debt-to-equity ratio of 1.45. Duke Energy Corporation has a 12 month low of $113.89 and a 12 month high of $134.49. The firm has a market cap of $98.49 billion, a price-to-earnings ratio of 19.35 and a beta of 0.39.

Duke Energy (NYSE:DUK) last posted its earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.06. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. Duke Energy’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the business posted $1.76 EPS. Equities analysts anticipate that Duke Energy Corporation will post 6.71 EPS for the current year.

Duke Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th were given a $1.065 dividend. This represents a $4.26 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, May 15th. Duke Energy’s dividend payout ratio (DPR) is currently 65.24%.

Insider Transactions at Duke Energy

In other news, CEO Louis E. Renjel sold 3,500 shares of Duke Energy stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $125.15, for a total value of $438,025.00. Following the transaction, the chief executive officer directly owned 21,415 shares in the company, valued at approximately $2,680,087.25. The trade was a 14.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Harry K. Sideris sold 20,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer owned 96,102 shares of the company’s stock, valued at approximately $11,952,205.74. The trade was a 17.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.12% of the company’s stock.

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.