Illinois Municipal Retirement Fund Buys 60,497 Shares of Duke Energy Corporation $DUK

Illinois Municipal Retirement Fund boosted its stake in Duke Energy Corporation (NYSE:DUK) by 25.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 294,156 shares of the utilities provider’s stock after buying an additional 60,497 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Duke Energy were worth $34,478,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of 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 acquiring an additional 1,957,592 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 in the last quarter. Franklin Resources Inc. grew its stake in 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 purchasing an additional 954,907 shares during the period. Northern Trust Corp grew its stake in 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 purchasing an additional 31,703 shares during the period. Finally, Capital Research Global Investors raised its holdings in Duke Energy by 0.3% in the third quarter. Capital Research Global Investors now owns 5,033,225 shares of the utilities provider’s stock worth $622,862,000 after purchasing an additional 12,758 shares in the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Insider Buying and Selling

In related news, 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 transaction, the chief executive officer directly owned 96,102 shares of the company’s stock, valued at approximately $11,952,205.74. This represents a 17.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Louis E. Renjel sold 3,500 shares of the stock in a transaction 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.12% of the company’s stock.

More Duke Energy News

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

• Positive Sentiment: The U.S. Department of Energy selected Duke Energy for up to $61.8 million in additional grants to refurbish coal-fired plants in Kentucky and North Carolina, adding to an earlier $34 million award. The funding could help Duke lower the amount customers or shareholders ultimately bear for plant upgrades while supporting grid reliability. How Investors Are Reacting To Duke Energy (DUK) Winning US$96 Million In Federal Coal Plant Grants
• Positive Sentiment: Ohio’s Supreme Court approved a natural gas rate hike for Duke Energy customers, a reminder that regulators can allow higher rates to flow through the system, which can help protect the company’s earnings. Ohio Supreme Court approves natural gas rate hike for Duke Energy customers
• Positive Sentiment: Duke Energy remains in the market spotlight, with investors watching it as a trending stock and debating whether it is a buy. That attention can help trading interest in DUK. Is Trending Stock Duke Energy Corporation (DUK) a Buy Now?
• Neutral Sentiment: Regulators’ pause in Duke Energy’s solar procurement has raised concerns about future customer bills, but it also signals ongoing scrutiny of how the utility balances clean-energy spending with affordability. Regulators’ pause in Duke Energy solar procurement raises concerns about bills
• Neutral Sentiment: At a state hearing, Duke Energy faced questions over how it is helping attract new data centers to North Carolina. Data-center load growth could be a long-term upside, but the hearing suggests the plan may face political or regulatory pushback. At state hearing, Duke Energy faces questions over its role in attracting new data centers to NC
• Negative Sentiment: Questions over a possible $150 bill credit for customers suggest Duke Energy is still under pressure on affordability, which could weigh on sentiment if it leads to lower near-term revenue recovery. Duke Energy customers may be able to get $150 bill credit. But there’s a catch

Analysts Set New Price Targets

Several equities analysts have commented on the company. BTIG Research reissued a “buy” rating and set a $139.00 price objective on shares of Duke Energy in a research report on Tuesday, June 2nd. The Goldman Sachs Group increased their price target on shares of Duke Energy from $141.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Wall Street Zen raised shares of Duke Energy from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Truist Financial cut their price objective on shares of Duke Energy from $142.00 to $137.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Finally, Wells Fargo & Company raised their target price on shares of 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 investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $138.93.

Duke Energy Price Performance

Shares of NYSE:DUK opened at $125.13 on Thursday. The business has a fifty day moving average price of $126.42 and a 200-day moving average price of $123.99. 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 company has a market capitalization of $97.55 billion, a PE ratio of 19.16 and a beta of 0.39. Duke Energy Corporation has a 1-year low of $113.66 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, topping analysts’ consensus estimates 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 analysts’ expectations of $8.44 billion. During the same quarter in the previous year, the business posted $1.76 EPS. Duke Energy’s revenue was up 11.3% compared to the same quarter last year. As a group, equities analysts expect that Duke Energy Corporation will post 6.71 EPS 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. Stockholders of record on Friday, May 15th will be paid a $1.065 dividend. This represents a $4.26 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, May 15th. Duke Energy’s dividend 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.