Duke Energy Corporation $DUK Shares Sold by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co cut its holdings in shares of Duke Energy Corporation (NYSE:DUK) by 28.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 124,500 shares of the utilities provider’s stock after selling 50,500 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Duke Energy were worth $14,593,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DUK. Dorato Capital Management acquired a new position in Duke Energy during the fourth quarter worth about $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in Duke Energy during the third quarter worth about $27,000. Lodestone Wealth Management LLC acquired a new position in Duke Energy during the fourth quarter worth about $30,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in Duke Energy by 300.0% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 280 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 210 shares during the last quarter. Finally, Cornerstone Planning Group LLC boosted its position in Duke Energy by 13,750.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 277 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 275 shares during the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Duke Energy

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

• Positive Sentiment: Duke Energy was named among the utilities to watch as wind energy adoption and broader clean-power demand continue to rise, which could support long-term load growth and investment opportunities. Top Wind Energy Stocks to Watch Amid Increased Adoption of Clean Energy
• Positive Sentiment: The Duke Energy Foundation announced $500,000 in grants to improve hurricane preparedness in North Carolina, reinforcing its focus on storm readiness and community resilience ahead of hurricane season. Ahead of hurricane season, Duke Energy Foundation awards $500,000 to strengthen storm preparedness across North Carolina
• Positive Sentiment: South Carolina regulators approved Duke Energy’s new nonresidential demand response program, which lets customers earn bill credits while helping the utility manage peak demand and improve grid reliability. New Duke Energy program helps South Carolina nonresidential customers lower costs while supporting a growing grid
• Neutral Sentiment: Several articles note that investors are closely watching Duke Energy’s shares, but they do not point to a major new fundamental catalyst by themselves. Duke Energy Corporation (DUK) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Morgan Stanley cut its price target on Duke Energy to $132 from $141 while keeping an Equal Weight rating, which may temper sentiment but does not indicate a bearish call. Morgan Stanley Revises Duke Energy (DUK) Valuation Following Utility Sector Update
• Negative Sentiment: News that the Supreme Court affirmed Duke Energy’s rate hikes may keep regulatory risk in focus, since approved increases can still draw political and customer scrutiny. Duke Energy rate hikes affirmed by Supreme Court

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Capitol Sec Mgt lowered shares of Duke Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Duke Energy in a research note on Monday, May 4th. Wells Fargo & Company lifted their target price on shares of Duke Energy from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Monday, April 20th. Barclays lifted their target price on shares of Duke Energy from $127.00 to $143.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 7th. Finally, Truist Financial reduced their target price on shares of Duke Energy from $142.00 to $137.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Duke Energy has an average rating of “Moderate Buy” and an average price target of $139.07.

Insider Buying and Selling

In other news, CEO Harry K. Sideris sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $124.37, for a total value of $2,487,400.00. Following the sale, the chief executive officer directly owned 96,102 shares of the company’s stock, valued at approximately $11,952,205.74. The trade was a 17.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $438,025.00. Following the completion of the sale, the chief executive officer directly owned 21,415 shares in the company, valued at $2,680,087.25. This trade represents a 14.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.12% of the stock is currently owned by insiders.

Duke Energy Trading Down 1.3%

Shares of DUK stock opened at $123.70 on Friday. 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 firm has a market cap of $96.43 billion, a PE ratio of 18.94 and a beta of 0.41. The company has a 50-day moving average of $127.61 and a two-hundred day moving average of $124.05. Duke Energy Corporation has a 1-year low of $113.39 and a 1-year high of $134.49.

Duke Energy (NYSE:DUK) last released 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. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The business’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.76 EPS. On average, analysts predict that Duke Energy Corporation will post 6.71 EPS for the current year.

Duke Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th will be paid a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, May 15th. Duke Energy’s payout ratio is 65.24%.

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.