Oak Grove Capital LLC Buys 5,000 Shares of Duke Energy Corporation $DUK

Oak Grove Capital LLC boosted its position in shares of Duke Energy Corporation (NYSE:DUK) by 4.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,750 shares of the utilities provider’s stock after buying an additional 5,000 shares during the quarter. Duke Energy accounts for approximately 1.7% of Oak Grove Capital LLC’s investment portfolio, making the stock its 13th largest position. Oak Grove Capital LLC’s holdings in Duke Energy were worth $14,036,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of Duke Energy by 11.6% in the 4th quarter. Brighton Jones LLC now owns 6,754 shares of the utilities provider’s stock worth $728,000 after acquiring an additional 700 shares during the last quarter. Empowered Funds LLC grew its holdings in Duke Energy by 19.6% during the 1st quarter. Empowered Funds LLC now owns 23,162 shares of the utilities provider’s stock valued at $2,825,000 after purchasing an additional 3,797 shares during the last quarter. Schnieders Capital Management LLC. raised 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 purchasing an additional 315 shares during the period. AXA S.A. lifted its stake in Duke Energy by 523.4% in the second quarter. AXA S.A. now owns 42,233 shares of the utilities provider’s stock worth $4,983,000 after purchasing an additional 35,458 shares during the last quarter. Finally, Nebula Research & Development LLC bought a new stake in Duke Energy in the second quarter worth about $954,000. Institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Performance

Shares of NYSE:DUK opened at $123.84 on Friday. The firm’s 50 day simple moving average is $125.59 and its 200-day simple moving average is $124.06. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.44 and a current ratio of 0.66. Duke Energy Corporation has a one year low of $113.89 and a one year high of $134.49. The firm has a market cap of $96.55 billion, a PE ratio of 18.97 and a beta of 0.39.

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, beating analysts’ consensus estimates of $1.87 by $0.06. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the business earned $1.76 earnings per share. Duke Energy’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, equities analysts predict that Duke Energy Corporation will post 6.71 EPS for the current year.

Duke Energy Announces Dividend

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

Duke Energy News Summary

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

• Positive Sentiment: Mizuho trimmed its price target on Duke Energy to $135 from $139, but kept an Outperform rating, still implying upside from current levels. Street Insider article
• Positive Sentiment: Investor-focused coverage highlighted Duke Energy as one of several utility stocks offering long-term passive income appeal, reinforcing the stock’s defensive, income-oriented profile. 247WallSt article
• Neutral Sentiment: Duke Energy’s safety demonstration for Pinellas County law enforcement was a routine community/outreach event, with limited direct impact on earnings or valuation. Yahoo News article
• Neutral Sentiment: Power outages and restorations in local service areas, including reports of customers temporarily without electricity, are operational headlines that may create short-term noise but do not by themselves change the investment thesis. MSN article
• Neutral Sentiment: Regulatory and local-government coverage, including a commissioner being barred from a planning vote and Clearwater’s review of Duke Energy property, adds uncertainty around future utility planning and municipal relations, but the near-term stock impact is unclear. Yahoo News article
• Negative Sentiment: Coverage noting that Duke Energy declined more than the market in the latest session may be reinforcing bearish trading momentum in the shares. Yahoo Finance article
• Negative Sentiment: A pro-coal state regulator stepping away from Duke Energy carbon plan decisions could increase uncertainty around the company’s long-term generation strategy and regulatory process. WFAE article

Insiders Place Their Bets

In other news, 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 transaction of $2,487,400.00. Following the transaction, the chief executive officer owned 96,102 shares of the company’s stock, valued at approximately $11,952,205.74. This represents a 17.23% 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 Louis E. Renjel sold 3,500 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $125.15, for a total value of $438,025.00. Following the transaction, the chief executive officer owned 21,415 shares in the company, valued at approximately $2,680,087.25. This represents 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DUK. Wells Fargo & Company upped their target price on Duke Energy from $135.00 to $136.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Morgan Stanley decreased their price target on Duke Energy from $141.00 to $132.00 in a research note on Thursday, May 21st. Evercore upped their price objective on Duke Energy from $139.00 to $140.00 in a research report on Monday, May 11th. JPMorgan Chase & Co. reduced their target price on Duke Energy from $139.00 to $136.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Finally, Jefferies Financial Group decreased their target price on Duke Energy from $143.00 to $138.00 in a research 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 company has a consensus rating of “Moderate Buy” and an average target price of $138.07.

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.