Duke Energy Corporation $DUK Shares Bought by Magellan Asset Management Ltd

Magellan Asset Management Ltd grew its position in shares of Duke Energy Corporation (NYSE:DUK) by 19.7% during the first quarter, HoldingsChannel reports. The firm owned 402,505 shares of the utilities provider’s stock after buying an additional 66,226 shares during the period. Magellan Asset Management Ltd’s holdings in Duke Energy were worth $52,704,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DUK. Basso Capital Management L.P. purchased a new stake in Duke Energy during the 4th quarter worth $25,000. Dorato Capital Management purchased a new position in Duke Energy in the 4th quarter valued at about $26,000. Evolution Wealth Management Inc. grew its stake in shares of Duke Energy by 1,111.1% during the fourth quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Triumph Capital Management increased its position in shares of Duke Energy by 68.6% during the fourth quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 94 shares during the last quarter. Finally, Cornerstone Financial Management LLC purchased a new stake in shares of Duke Energy during the fourth quarter worth about $28,000. 65.31% of the stock is owned by institutional investors and hedge funds.

Duke Energy Trading Down 0.1%

Shares of NYSE DUK opened at $125.77 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 0.66 and a debt-to-equity ratio of 1.45. The stock’s 50 day moving average price is $124.92 and its two-hundred day moving average price is $125.59. Duke Energy Corporation has a 52-week low of $113.89 and a 52-week high of $134.49. The stock has a market capitalization of $98.05 billion, a P/E ratio of 19.26, a PEG ratio of 2.77 and a beta of 0.38.

Duke Energy (NYSE:DUK) last issued its earnings results on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.87 by $0.06. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the firm earned $1.76 EPS. The business’s revenue was up 11.3% on a year-over-year basis. On average, analysts anticipate that Duke Energy Corporation will post 6.72 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th will be issued a $1.085 dividend. This is a boost from Duke Energy’s previous quarterly dividend of $1.06. This represents a $4.34 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Friday, August 14th. Duke Energy’s dividend payout ratio is presently 66.46%.

Duke Energy News Summary

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

• Positive Sentiment: Duke Energy announced or was highlighted alongside a dividend increase, reinforcing its appeal as a reliable income stock and supporting the case for long-term utility earnings growth tied to data center demand. Industrial and Utility Giants Boost Dividends as Data Center Tailwinds Build (DUK)
• Positive Sentiment: The company reached a North Carolina rate settlement that cuts the proposed increase by more than half, which could reduce regulatory friction and improve the odds of eventual approval versus the original request. Duke Energy reaches deal to cut North Carolina rate hike by over half
• Neutral Sentiment: Analysts remain constructive overall, but BMO Capital Markets trimmed its price target to $134 from $138 while keeping an outperform rating, suggesting modest upside despite a slightly softer near-term valuation view. Benzinga report on BMO price target cut
• Neutral Sentiment: Industry commentary continues to point to long-term utility tailwinds from grid investment and rising power demand, especially from data centers, which supports the broader investment case for Duke Energy. Zacks Industry Outlook Highlights NextEra Energy, Duke Energy, American Electric Power and Ameren
• Negative Sentiment: North Carolina’s attorney general rejected the settlement and said even the reduced rate increase is still too high, raising the risk of more pushback and potentially slowing or complicating Duke’s ability to pass through higher costs to customers. NC AG rejects Duke Energy rate settlement; residential bills could rise 9.5%

Insider Buying and Selling at Duke Energy

In other Duke Energy news, CEO Harry K. Sideris sold 20,000 shares of the business’s 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 sale, the chief executive officer 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 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 transaction of $438,025.00. Following the sale, the chief executive officer directly owned 21,415 shares in the company, 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.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Mizuho reduced their price target on Duke Energy from $139.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, June 18th. Morgan Stanley upped their target price on Duke Energy from $132.00 to $136.00 in a research report on Wednesday, June 24th. Capitol Sec Mgt cut Duke Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. BMO Capital Markets dropped their price target on shares of Duke Energy from $138.00 to $134.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Jefferies Financial Group cut their price target on shares of Duke Energy from $143.00 to $138.00 in a report on Monday, May 11th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $138.47.

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.