Bayban Takes Position in Duke Energy Corporation $DUK

Bayban purchased a new position in Duke Energy Corporation (NYSE:DUK) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,415 shares of the utilities provider’s stock, valued at approximately $517,000.

Several other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Duke Energy by 11.6% in the fourth quarter. Brighton Jones LLC now owns 6,754 shares of the utilities provider’s stock worth $728,000 after buying an additional 700 shares in the last quarter. Empowered Funds LLC grew its position in Duke Energy by 19.6% during the first quarter. Empowered Funds LLC now owns 23,162 shares of the utilities provider’s stock worth $2,825,000 after buying an additional 3,797 shares in the last quarter. Schnieders Capital Management LLC. increased its stake 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 acquiring an additional 315 shares during the last quarter. AXA S.A. increased its stake in Duke Energy by 523.4% in the 2nd quarter. AXA S.A. now owns 42,233 shares of the utilities provider’s stock worth $4,983,000 after acquiring an additional 35,458 shares during the last quarter. Finally, Nebula Research & Development LLC purchased a new stake in shares of Duke Energy in the 2nd quarter valued at about $954,000. Hedge funds and other 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 stock’s 50-day moving average is $125.43 and its 200 day moving average is $124.06. The stock has a market cap of $96.55 billion, a price-to-earnings ratio of 18.97 and a beta of 0.39. Duke Energy Corporation has a 1-year low of $113.89 and a 1-year high of $134.49. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45.

Duke Energy (NYSE:DUK) last issued its 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 business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.44 billion. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.Duke Energy’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.76 earnings per share. On average, sell-side 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 was paid on Tuesday, June 16th. Investors of record on Friday, May 15th were given a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Friday, May 15th. Duke Energy’s dividend payout ratio (DPR) is presently 65.24%.

Insiders Place Their Bets

In other news, CEO Louis E. Renjel sold 3,500 shares of the firm’s stock in a transaction dated 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 directly owned 21,415 shares of the company’s stock, valued at approximately $2,680,087.25. This trade represents a 14.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Harry K. Sideris sold 20,000 shares of Duke Energy stock in a transaction dated 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 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 position. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is owned by company insiders.

Key Stories Impacting Duke Energy

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

• Positive Sentiment: Duke Energy is being highlighted as one of the large-cap dividend stocks that retirees are quietly buying, reinforcing its appeal as a steady income name for investors looking for yield and defensive cash flow. 3 Stocks Retirees Are Quietly Loading Up on in June
• Positive Sentiment: Another article also grouped Duke Energy with other utility stocks viewed as sources of passive income, which may support investor interest in the stock’s defensive dividend profile. 3 Utility Stocks For Years of Passive Income
• Positive Sentiment: Mizuho lowered its price target on Duke Energy only modestly to $135 from $139 while keeping an outperform rating, suggesting analysts still see upside from current levels. Mizuho PT Lowered to $135 at Mizuho
• Neutral Sentiment: Duke Energy Florida issued a customer energy-use reminder ahead of summer, which is routine utility communications and not likely to materially move the stock. Summer starts June 21: Duke Energy Florida highlights five key appliances to help customers manage energy use
• Neutral Sentiment: Several local outage reports and safety demonstrations are operational headlines that reflect day-to-day utility issues rather than a major change in Duke Energy’s earnings outlook. Duke Energy: Hundreds of customers without power in Greenville County
• Negative Sentiment: Coverage about a regulator sitting out Duke Energy carbon plan decisions and a separate story about a city examining whether to leave the utility add a bit of regulatory and political uncertainty. Pro-coal state regulator won’t participate in Duke Energy Carbon Plan decisions
• Negative Sentiment: Recent trading commentary noted that Duke Energy has been declining more than the broader market, indicating some near-term pressure on shares. Duke Energy (DUK) Declines More Than Market: Some Information for Investors

Wall Street Analysts Forecast Growth

DUK has been the subject of a number of research analyst reports. BTIG Research reiterated a “buy” rating and set a $139.00 price target on shares of Duke Energy in a research report on Tuesday, June 2nd. Wall Street Zen raised shares of Duke Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Barclays dropped their target price on shares of Duke Energy from $143.00 to $134.00 and set an “overweight” rating for the company in a research report on Thursday. BMO Capital Markets decreased their price target on shares of Duke Energy from $139.00 to $138.00 in a report on Wednesday, May 6th. Finally, Capitol Sec Mgt cut shares of Duke Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $138.07.

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.