Vertrix Wealth Management LLC Takes $4.90 Million Position in Duke Energy Corporation $DUK

Vertrix Wealth Management LLC purchased a new position in shares of Duke Energy Corporation (NYSE:DUK) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 37,444 shares of the utilities provider’s stock, valued at approximately $4,903,000. Duke Energy makes up approximately 1.8% of Vertrix Wealth Management LLC’s holdings, making the stock its 22nd largest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Basso Capital Management L.P. acquired a new position in shares of Duke Energy during the fourth quarter worth approximately $25,000. Dorato Capital Management acquired a new stake in shares of Duke Energy in the fourth quarter valued at approximately $26,000. Evolution Wealth Management Inc. raised its position in Duke Energy by 1,111.1% in the 4th quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. KERR FINANCIAL PLANNING Corp acquired a new position in Duke Energy during the 3rd quarter worth $27,000. Finally, Triumph Capital Management boosted its position in Duke Energy by 68.6% in the 4th quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock valued at $27,000 after buying an additional 94 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Wall Street Analysts Forecast Growth

DUK has been the topic of several recent research reports. Wall Street Zen upgraded Duke Energy from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Evercore raised their target price on shares of Duke Energy from $139.00 to $140.00 in a research note on Monday, May 11th. BTIG Research reissued a “buy” rating and set a $139.00 price target on shares of Duke Energy in a research note on Tuesday, June 2nd. Capitol Sec Mgt lowered shares of Duke Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Finally, Truist Financial reduced their price target on Duke Energy from $142.00 to $137.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $138.33.

Duke Energy Stock Performance

Shares of Duke Energy stock opened at $125.75 on Thursday. The stock’s fifty day simple moving average is $124.90 and its 200 day simple moving average is $124.65. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $98.03 billion, a PE ratio of 19.26 and a beta of 0.38. Duke Energy Corporation has a 12 month low of $113.89 and a 12 month high of $134.49.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.06. The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.44 billion. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.76 earnings per share. On average, research analysts predict that Duke Energy Corporation will post 6.71 EPS for the current year.

Duke Energy Announces Dividend

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

Key Stories Impacting Duke Energy

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

• Positive Sentiment: Duke Energy announced nearly $1 billion in spending with North Carolina suppliers, a move that supports U.S.-based supply chains, local economies, grid equipment procurement, and long-term reliability. Duke Energy’s nearly $1 billion investment with North Carolina suppliers strengthens American supply chains, local economies and the nation’s energy future
• Positive Sentiment: Indiana regulators approved Duke Energy’s $20 million project to serve a semiconductor manufacturer, highlighting ongoing demand from large industrial customers and potential load growth for the utility. Indiana regulators OK Duke Energy’s $20M project for chip manufacturer
• Positive Sentiment: Duke Energy Foundation committed $773,000 to 22 Florida nonprofits and higher-education groups to strengthen STEM education, supporting workforce development and the company’s community-focused profile. Duke Energy Foundation invests $773,000 to strengthen STEM education in Florida
• Neutral Sentiment: Duke Energy launched an AI-powered Bill Insights feature for Carolinas customers, which may improve customer experience and digital engagement, but is not a near-term earnings driver on its own. Duke Energy (DUK) Launches AI Bill Insights For Carolinas Customers
• Neutral Sentiment: Analyst coverage comparing DUK with CEG highlighted Duke Energy’s dividend yield, valuation, and earnings estimates as competitive positives, reinforcing the stock’s appeal as a defensive income name. CEG or DUK: Which Stock Deserves to Be in Your Portfolio Now?
• Negative Sentiment: Duke Energy ended its offshore wind lease off the North Carolina coast and agreed to a federal buyback, a sign it is stepping away from a growth project and potentially giving up optionality in renewables. Duke Energy pulls NC wind farm project in settlement with Department of Interior

Insider Transactions at Duke Energy

In related news, CEO Harry K. Sideris sold 20,000 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the completion of the transaction, the chief executive officer owned 96,102 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, CEO Louis E. Renjel sold 3,500 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer owned 21,415 shares of the company’s stock, valued at $2,680,087.25. The trade was a 14.05% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is currently owned by corporate 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.