Bessemer Group Inc. Has $138.69 Million Stake in Duke Energy Corporation $DUK

Bessemer Group Inc. decreased its holdings in Duke Energy Corporation (NYSE:DUK) by 4.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,183,214 shares of the utilities provider’s stock after selling 59,546 shares during the period. Bessemer Group Inc.’s holdings in Duke Energy were worth $138,685,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Dorato Capital Management bought a new position in Duke Energy in the 4th quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp bought a new position in Duke Energy in the 3rd quarter valued at about $27,000. Lodestone Wealth Management LLC bought a new position in Duke Energy in the 4th quarter valued at about $30,000. Wiser Advisor Group LLC bought a new position in Duke Energy in the 3rd quarter valued at about $34,000. Finally, Cornerstone Planning Group LLC increased its holdings in Duke Energy by 13,750.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 277 shares of the utilities provider’s stock valued at $33,000 after buying an additional 275 shares during the period. 65.31% of the stock is owned by institutional investors.

Insider Activity at Duke Energy

In related news, CEO Louis E. Renjel sold 3,500 shares of the business’s stock in a transaction on Monday, May 11th. The shares were 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 in the company, valued at $2,680,087.25. The trade was a 14.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,462 shares of company stock worth $3,048,426 in the last quarter. Company insiders own 0.12% of the company’s stock.

Duke Energy Trading Down 2.7%

Shares of Duke Energy stock opened at $120.98 on Friday. The firm has a market capitalization of $94.31 billion, a PE ratio of 18.53 and a beta of 0.41. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. The firm’s 50 day moving average is $128.90 and its 200 day moving average is $124.06. Duke Energy Corporation has a 1 year low of $113.39 and a 1 year high of $134.49.

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 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 company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period in the previous year, the firm posted $1.76 EPS. The firm’s revenue was up 11.3% on a year-over-year basis. Equities research analysts forecast that Duke Energy Corporation will post 6.7 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Friday, May 15th will be issued a $1.065 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.26 annualized dividend and a yield of 3.5%. Duke Energy’s payout ratio is presently 65.24%.

Wall Street Analyst Weigh In

Several research firms have commented on DUK. Jefferies Financial Group decreased their target price on shares of Duke Energy from $143.00 to $138.00 in a report on Monday, May 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Duke Energy in a report on Monday, May 4th. Barclays raised their target price on shares of Duke Energy from $127.00 to $143.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. BTIG Research reissued a “buy” rating and issued a $141.00 target price on shares of Duke Energy in a report on Friday, January 30th. Finally, UBS Group decreased their target price on shares of Duke Energy from $137.00 to $135.00 in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $140.00.

Trending Headlines about Duke Energy

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

• Positive Sentiment: Duke Energy held a groundbreaking ceremony for its Cayuga Energy Complex, signaling continued investment in its generation and infrastructure buildout, which can support future regulated-rate growth. Duke Energy holds a groundbreaking ceremony for their Cayuga Energy Complex
• Positive Sentiment: The company reported that no toxic algae was found at the Lake Norman site after an earlier state finding, which may reduce environmental and reputational concerns. Duke Energy: No toxic algae found at Lake Norman site where state said it was
• Neutral Sentiment: DUK remains a heavily watched stock, with investor attention likely reflecting interest in its defensive utility profile and upcoming rate/regulatory developments. Duke Energy Corporation (DUK) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Reports that Duke Energy’s North Carolina rate-increase hearing was postponed could delay a key catalyst for earnings and cash-flow improvement, but the impact is still uncertain. Duke Energy rate-increase hearing postponed over missed scheduling deadline
• Neutral Sentiment: The company’s claims that a merger will save customers $2.3 billion and news about combining its two North Carolina utilities may help long-term efficiency, but investors are likely waiting to see regulatory details. Duke Energy claims merger to save customers $2.3 billion, double initial estimate
• Negative Sentiment: Questions around North Carolina policy and legal issues tied to Duke Energy’s solar plans could add uncertainty to future capital spending and regulatory approval. Shunning the sunshine? NC order for Duke Energy to hit brakes on solar raises policy, legal questions

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.