Bank of New York Mellon Corp Has $642.98 Million Stock Position in Duke Energy Corporation $DUK

Bank of New York Mellon Corp lowered its holdings in shares of Duke Energy Corporation (NYSE:DUK) by 19.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,910,491 shares of the utilities provider’s stock after selling 1,187,473 shares during the quarter. Bank of New York Mellon Corp’s holdings in Duke Energy were worth $642,980,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of DUK. Vanguard Group Inc. lifted its holdings in Duke Energy by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider’s stock worth $9,172,709,000 after purchasing an additional 1,957,592 shares during the last quarter. Geode Capital Management LLC grew its holdings in Duke Energy by 1.2% during 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 purchasing an additional 230,375 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Duke Energy by 0.7% in 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 purchasing an additional 58,375 shares during the period. Franklin Resources Inc. lifted its stake in shares of Duke Energy by 13.1% in the fourth quarter. Franklin Resources Inc. now owns 8,236,893 shares of the utilities provider’s stock worth $965,446,000 after buying an additional 954,907 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Duke Energy by 0.4% in the third quarter. Northern Trust Corp now owns 7,758,700 shares of the utilities provider’s stock worth $960,139,000 after buying an additional 31,703 shares during the last quarter. 65.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Harry K. Sideris sold 20,000 shares of Duke Energy stock in a transaction that occurred 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 sale, the chief executive officer owned 96,102 shares of the company’s stock, valued at approximately $11,952,205.74. This trade represents a 17.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Louis E. Renjel sold 3,500 shares of the business’s stock in a transaction that occurred 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 sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on DUK. JPMorgan Chase & Co. raised their target price on shares of Duke Energy from $136.00 to $141.00 and gave the company a “neutral” rating in a research note on Thursday. UBS Group cut their target price on shares of Duke Energy from $137.00 to $135.00 in a research report on Monday, May 11th. Evercore raised their price target on Duke Energy from $139.00 to $140.00 in a research report on Monday, May 11th. Barclays dropped their price objective on Duke Energy from $143.00 to $134.00 and set an “overweight” rating on the stock in a research note on Thursday, June 18th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Duke Energy in a research report on Monday, May 4th. Nine 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $138.67.

Duke Energy Stock Performance

NYSE:DUK opened at $125.99 on Friday. The firm’s 50-day moving average is $124.87 and its 200-day moving average is $125.42. Duke Energy Corporation has a 52-week low of $113.89 and a 52-week high of $134.49. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.44 and a current ratio of 0.66. The company has a market cap of $98.22 billion, a price-to-earnings ratio of 19.29 and a beta of 0.38.

Duke Energy (NYSE:DUK) last released its earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.06. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter last year, the company earned $1.76 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. Equities research analysts anticipate that Duke Energy Corporation will post 6.71 earnings per share for the current year.

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th will be given a $1.085 dividend. The ex-dividend date is Friday, August 14th. This represents a $4.34 dividend on an annualized basis and a dividend yield of 3.4%. This is an increase from Duke Energy’s previous quarterly dividend of $1.06. Duke Energy’s dividend payout ratio is 65.24%.

More Duke Energy News

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

• Positive Sentiment: Duke Energy boosted its quarterly dividend to $1.085 per share, a 1.9% increase from the prior payout, reinforcing its appeal as an income stock. PR Newswire dividend/program article
• Positive Sentiment: JPMorgan raised its price target on Duke Energy to $141 from $136, signaling continued confidence in the stock’s valuation and a modest upside from current levels. Benzinga price target article
• Positive Sentiment: Analysts continue to point to solid growth prospects, with recent commentary highlighting Duke’s contracted load and longer-term growth plan as credible support for earnings. Seeking Alpha contracted load article
• Neutral Sentiment: Duke Energy Florida said its EnergyWise Home program can provide customer bill credits with minimal effort, which is supportive of customer relations but not a major earnings driver. Yahoo Finance EnergyWise Home article
• Neutral Sentiment: Clearwater is set to vote on a 30-year Duke Energy deal, which could help preserve the utility’s local footprint but is still pending. Clearwater vote article
• Negative Sentiment: North Carolina’s attorney general is challenging Duke Energy Progress rate hikes, adding regulatory pressure and uncertainty around future revenue growth. Attorney general challenge article
• Negative Sentiment: Another report said the attorney general is seeking to block nearly $1 billion in Duke Energy rate hikes over the next two years, reinforcing the regulatory overhang. Yahoo News rate hikes article
• Negative Sentiment: A Greensboro outage affecting thousands of customers highlights ongoing operational reliability issues, though the number of impacted customers has since been cut roughly in half. Greensboro outage article

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.