Meyer Handelman Co. Sells 7,510 Shares of Duke Energy Corporation $DUK

Meyer Handelman Co. lowered its stake in Duke Energy Corporation (NYSE:DUK) by 11.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 55,830 shares of the utilities provider’s stock after selling 7,510 shares during the quarter. Meyer Handelman Co.’s holdings in Duke Energy were worth $7,310,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Duke Energy by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider’s stock valued at $9,172,709,000 after buying an additional 1,957,592 shares during the period. Geode Capital Management LLC increased its position in shares of Duke Energy by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 19,292,633 shares of the utilities provider’s stock valued at $2,266,675,000 after acquiring an additional 230,375 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Duke Energy by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,931,127 shares of the utilities provider’s stock valued at $1,046,818,000 after acquiring an additional 58,375 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Duke Energy by 13.1% during the fourth quarter. Franklin Resources Inc. now owns 8,236,893 shares of the utilities provider’s stock worth $965,446,000 after purchasing an additional 954,907 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Duke Energy by 0.4% during the third quarter. Northern Trust Corp now owns 7,758,700 shares of the utilities provider’s stock worth $960,139,000 after purchasing an additional 31,703 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Insider Activity at Duke Energy

In related news, CEO Harry K. Sideris sold 20,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer directly owned 96,102 shares of the company’s stock, valued at $11,952,205.74. This represents a 17.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Louis E. Renjel sold 3,500 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $125.15, for a total value 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 approximately $2,680,087.25. This trade represents a 14.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Duke Energy in a report on Monday, May 4th. Evercore lifted their price objective on Duke Energy from $139.00 to $140.00 in a research report on Monday, May 11th. BTIG Research reissued a “buy” rating and set a $139.00 target price on shares of Duke Energy in a research note on Tuesday, June 2nd. Mizuho decreased their target price on Duke Energy from $139.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, June 18th. Finally, Capitol Sec Mgt lowered Duke Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Duke Energy presently has a consensus rating of “Moderate Buy” and an average target price of $138.33.

Duke Energy News Roundup

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, suggesting modest upside and reinforcing investor confidence in the utility’s earnings durability. MarketScreener article
• Positive Sentiment: Mizuho said Duke Energy can execute despite near-term regulatory challenges and kept an Outperform rating, which supports the stock’s defensive, dividend-focused appeal. Yahoo Finance article
• Positive Sentiment: Duke Energy reportedly lowered a proposed rate increase after public pushback, a pragmatic move that may improve the odds of regulatory approval and reduce near-term friction with state regulators. WWAY article
• Positive Sentiment: The company continues to attract dividend investors, with several articles highlighting Duke Energy as a top S&P 500 dividend name, which can support demand for the shares. Yahoo Finance article
• Neutral Sentiment: Duke Energy Foundation grants in South Carolina and North Carolina highlight its community involvement and public-relations efforts, but these announcements are not likely to materially move the stock. PR Newswire article
• Neutral Sentiment: Duke Energy’s summer energy-saving tips article is informational and does not appear to have a direct impact on earnings or valuation. Post and Courier article
• Negative Sentiment: Local opposition in Clearwater and concerns in North Carolina over a transmission route underscore ongoing regulatory and community resistance, which could complicate future projects and limit upside. MSN article
• Negative Sentiment: Swain County property owners raising concerns about Duke’s Needmore route adds another regulatory/permitting headache for the company. Smoky Mountain News article

Duke Energy Price Performance

Shares of NYSE DUK opened at $127.10 on Friday. Duke Energy Corporation has a 1 year low of $113.89 and a 1 year high of $134.49. The stock has a market capitalization of $99.09 billion, a P/E ratio of 19.46 and a beta of 0.39. The company’s 50-day moving average is $124.97 and its 200 day moving average is $124.29. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.66 and a quick ratio of 0.44.

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. The business had revenue of $9.18 billion during 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 quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the business posted $1.76 earnings per share. On average, sell-side analysts expect that Duke Energy Corporation will post 6.71 earnings per share for the current year.

Duke Energy Announces Dividend

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

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.