Pinnacle West Asset Management Inc. Makes New Investment in Duke Energy Corporation $DUK

Pinnacle West Asset Management Inc. purchased a new stake in shares of Duke Energy Corporation (NYSE:DUK) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,495 shares of the utilities provider’s stock, valued at approximately $569,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Duke Energy by 11.6% during the 4th quarter. Brighton Jones LLC now owns 6,754 shares of the utilities provider’s stock valued at $728,000 after purchasing an additional 700 shares during the period. 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 buying an additional 3,797 shares during the period. Schnieders Capital Management LLC. increased its position 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 during the period. AXA S.A. lifted its holdings in shares of Duke Energy by 523.4% during the second quarter. AXA S.A. now owns 42,233 shares of the utilities provider’s stock worth $4,983,000 after buying an additional 35,458 shares during the last quarter. Finally, Nebula Research & Development LLC bought a new stake in shares of Duke Energy in the second quarter valued at approximately $954,000. 65.31% of the stock is owned by institutional investors and hedge funds.

Duke Energy News Summary

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

• Positive Sentiment: Duke’s proposed Carolinas resource plan targets 18.5 gigawatts of new solar capacity by 2041, reflecting strong electricity-demand growth in North and South Carolina. The plan could support long-term rate-base expansion, although it also implies substantial capital spending. Duke’s Carolinas resource plan targets 18.5 GW new solar by 2041
• Neutral Sentiment: Power was restored in northeast Charlotte after a damaged pole left thousands of Duke customers without electricity. The incident highlights storm-related reliability costs but appears to have been resolved. Power restored after damaged pole caused thousands of Duke Energy customers to be without power
• Neutral Sentiment: Severe thunderstorms caused outages across the Charlotte region and parts of western and upstate North Carolina. Temporary outages may increase restoration expenses and draw attention to grid resilience, but no lasting financial impact was reported. Tracking Duke Energy power outages amid rain severe storms in Charlotte region Thousands without power in Upstate and western North Carolina
• Neutral Sentiment: Duke employees assembled 10,000 hygiene kits for people in need. The community initiative supports the company’s public image but is unlikely to materially affect earnings. Duke Energy volunteers assemble 10,000 hygiene kits
• Negative Sentiment: Morgan Stanley lowered its Duke Energy price target from $138 to $133 and maintained an “equal weight” rating. The revision signals limited near-term conviction despite the target implying potential upside from the referenced price. Morgan Stanley lowers Duke Energy price target
• Negative Sentiment: Duke is seeking to disqualify a consumer group from hearings concerning Florida data centers, a move that could intensify regulatory and public-relations scrutiny over data-center electricity costs and customer protections. Duke Energy tries to disqualify consumer group from Florida data center hearings
• Negative Sentiment: Criticism that Duke’s policies place disproportionate costs on its poorest North Carolina customers adds political and regulatory risk, potentially complicating rate cases and future infrastructure spending. Duke Energy deals double whammy to its poorest North Carolina customers

Wall Street Analysts Forecast Growth

DUK has been the topic of several research analyst reports. Morgan Stanley lowered their price objective on shares of Duke Energy from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Friday. Weiss Ratings reissued a “buy (b)” rating on shares of Duke Energy in a report on Friday, July 31st. BTIG Research restated a “buy” rating on shares of Duke Energy in a research report on Thursday, July 23rd. Evercore boosted their price objective on shares of Duke Energy from $139.00 to $140.00 in a report on Monday, May 11th. Finally, BMO Capital Markets cut their price objective on shares of Duke Energy from $134.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, August 5th. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.94.

Duke Energy Price Performance

NYSE:DUK opened at $119.89 on Friday. The company has a 50-day moving average of $125.64 and a 200-day moving average of $126.62. The company has a market capitalization of $93.48 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 2.86 and a beta of 0.38. Duke Energy Corporation has a 52 week low of $113.89 and a 52 week high of $134.49. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.43 and a current ratio of 0.66.

Duke Energy (NYSE:DUK) last posted its earnings results on Monday, August 3rd. The utilities provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.13. Duke Energy had a net margin of 15.78% and a return on equity of 9.78%. The business had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts anticipate that Duke Energy Corporation will post 6.72 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Friday, August 14th will be paid a $1.085 dividend. The ex-dividend date is Friday, August 14th. This represents a $4.34 annualized dividend and a dividend yield of 3.6%. This is an increase from Duke Energy’s previous quarterly dividend of $1.06. Duke Energy’s dividend payout ratio is currently 65.17%.

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.