TIAA Trust National Association Acquires 7,144 Shares of Duke Energy Corporation $DUK

TIAA Trust National Association lifted its stake in Duke Energy Corporation (NYSE:DUK) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,300 shares of the utilities provider’s stock after purchasing an additional 7,144 shares during the quarter. TIAA Trust National Association’s holdings in Duke Energy were worth $19,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of DUK. Cerity Partners LLC raised its position in Duke Energy by 1.7% in the 4th quarter. Cerity Partners LLC now owns 361,974 shares of the utilities provider’s stock worth $42,430,000 after buying an additional 6,103 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Duke Energy by 13.1% during the 4th quarter. Franklin Resources Inc. now owns 8,236,893 shares of the utilities provider’s stock valued at $965,446,000 after purchasing an additional 954,907 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of Duke Energy by 3.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 185,138 shares of the utilities provider’s stock valued at $21,700,000 after purchasing an additional 5,649 shares during the period. Hilton Head Capital Partners LLC bought a new stake in shares of Duke Energy during the 4th quarter valued at about $295,000. Finally, Palladiem LLC bought a new stake in shares of Duke Energy during the 4th quarter valued at about $178,000. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Insiders Place Their Bets

In other news, 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 transaction, the chief executive officer owned 21,415 shares of the company’s stock, valued at approximately $2,680,087.25. This represents a 14.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Harry K. Sideris sold 20,000 shares of the 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 transaction, the chief executive officer directly owned 96,102 shares in the company, valued at $11,952,205.74. The trade was a 17.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded Duke Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. BMO Capital Markets cut their price target on Duke Energy from $139.00 to $138.00 in a research note on Wednesday, May 6th. Weiss Ratings restated a “buy (b)” rating on shares of Duke Energy in a research note on Monday, May 4th. Jefferies Financial Group cut their price target on Duke Energy from $143.00 to $138.00 in a research note on Monday, May 11th. Finally, Mizuho boosted their price target on Duke Energy from $130.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $138.93.

Duke Energy Trading Up 1.4%

DUK stock opened at $123.77 on Wednesday. Duke Energy Corporation has a 1-year low of $113.66 and a 1-year high of $134.49. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.66 and a quick ratio of 0.44. The company has a market capitalization of $96.49 billion, a price-to-earnings ratio of 18.95 and a beta of 0.39. The business has a 50 day simple moving average of $126.55 and a two-hundred day simple moving average of $123.97.

Duke Energy (NYSE:DUK) last posted its earnings results on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.06. The firm 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 quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.76 EPS. Research analysts anticipate that Duke Energy Corporation will post 6.71 EPS for the current fiscal year.

Duke Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th will be paid a $1.065 dividend. The ex-dividend date is 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 (DPR) is presently 65.24%.

About Duke Energy

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.