Hamel Associates Inc. Acquires 5,446 Shares of Duke Energy Corporation $DUK

Hamel Associates Inc. increased its holdings in shares of Duke Energy Corporation (NYSE:DUK) by 20.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,085 shares of the utilities provider’s stock after purchasing an additional 5,446 shares during the quarter. Hamel Associates Inc.’s holdings in Duke Energy were worth $4,201,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Duke Energy by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider’s stock worth $9,172,709,000 after acquiring an additional 1,957,592 shares in the last quarter. Amundi raised its holdings in shares of Duke Energy by 56.9% during the fourth quarter. Amundi now owns 2,662,460 shares of the utilities provider’s stock worth $312,067,000 after acquiring an additional 965,808 shares during the period. Franklin Resources Inc. lifted its position in Duke Energy by 13.1% in the 4th quarter. Franklin Resources Inc. now owns 8,236,893 shares of the utilities provider’s stock valued at $965,446,000 after acquiring an additional 954,907 shares in the last quarter. Milford Funds Ltd. acquired a new position in Duke Energy in the 4th quarter worth $97,905,000. Finally, Cohen & Steers Inc. increased its holdings in Duke Energy by 83.3% during the 4th quarter. Cohen & Steers Inc. now owns 1,711,445 shares of the utilities provider’s stock worth $200,598,000 after purchasing an additional 777,878 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Key Duke Energy News

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

• Positive Sentiment: Truist raised its price target on Duke Energy to $138 and reiterated a Buy rating, signaling confidence in the utility’s earnings outlook and suggesting meaningful upside from current levels. Benzinga report on Truist rating update
• Positive Sentiment: JPMorgan also lifted its price target to $141, even while keeping a Neutral rating, which still reflects expectations for solid longer-term value creation. Benzinga report on JPMorgan target increase
• Positive Sentiment: Recent commentary highlighted Duke Energy as one of the utilities best positioned for long-term growth thanks to its strong customer base and large capital expenditure program, with analysts pointing to contracted load and new demand from data centers as supportive of future earnings. Seeking Alpha article
• Neutral Sentiment: Duke Energy is expected to report second-quarter results next month, and analysts are looking for a modest earnings increase, keeping attention on whether the company can deliver on its growth plans. Barchart article
• Neutral Sentiment: Local coverage suggests Clearwater may renew its long-term electricity contract with Duke Energy, which would help preserve customer relationships and support revenue stability. Yahoo Finance article
• Negative Sentiment: North Carolina’s attorney general is challenging proposed Duke Energy Progress rate increases, adding another regulatory hurdle that could limit future pricing power and earnings growth. MSN article
• Negative Sentiment: Additional reports say AG Jeff Jackson is seeking to block nearly $1 billion in Duke Energy rate hikes over the next two years, reinforcing investor concerns about regulatory pushback on returns. Yahoo News article

Insider Buying and Selling

In other Duke Energy news, CEO Louis E. Renjel sold 3,500 shares of the business’s stock in a transaction that occurred on 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 owned 21,415 shares of the company’s stock, valued at $2,680,087.25. The trade was a 14.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Harry K. Sideris sold 20,000 shares of the company’s stock in a transaction that occurred on 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 sale, 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. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on DUK shares. BTIG Research reissued a “buy” rating and issued a $139.00 price target on shares of Duke Energy in a research note on Tuesday, June 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Duke Energy in a research report on Monday, May 4th. UBS Group decreased their price objective on Duke Energy from $137.00 to $135.00 in a report on Monday, May 11th. BMO Capital Markets dropped their target price on Duke Energy from $139.00 to $138.00 in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company boosted 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. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $138.73.

Duke Energy Stock Up 0.0%

Shares of DUK stock opened at $125.04 on Monday. The firm’s fifty day moving average price is $124.89 and its two-hundred day moving average price is $125.48. 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 Corporation has a 1 year low of $113.89 and a 1 year high of $134.49. The firm has a market capitalization of $97.48 billion, a P/E ratio of 19.15, a PEG ratio of 2.75 and a beta of 0.38.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.06. The company had revenue of $9.18 billion during 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 company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.76 EPS. On average, equities analysts predict that Duke Energy Corporation will post 6.72 EPS for the current fiscal year.

Duke Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be given a dividend of $1.085 per share. This represents a $4.34 annualized dividend and a yield of 3.5%. This is a boost from Duke Energy’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend is Friday, August 14th. Duke Energy’s payout ratio is currently 65.24%.

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.