AlphaQuest LLC Boosts Stake in Duke Energy Corporation $DUK

AlphaQuest LLC increased its stake in shares of Duke Energy Corporation (NYSE:DUK) by 327.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 39,046 shares of the utilities provider’s stock after purchasing an additional 29,919 shares during the period. Duke Energy makes up approximately 0.3% of AlphaQuest LLC’s investment portfolio, making the stock its 14th largest position. AlphaQuest LLC’s holdings in Duke Energy were worth $4,577,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Collaborative Wealth Managment Inc. purchased a new position in shares of Duke Energy during the 4th quarter worth approximately $217,000. Goepper Burkhardt LLC lifted its holdings in Duke Energy by 3.2% during the 4th quarter. Goepper Burkhardt LLC now owns 6,452 shares of the utilities provider’s stock worth $756,000 after buying an additional 200 shares in the last quarter. Smithfield Trust Co lifted its holdings in Duke Energy by 26.7% during the 4th quarter. Smithfield Trust Co now owns 2,731 shares of the utilities provider’s stock worth $320,000 after buying an additional 575 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in Duke Energy by 5.1% during the 4th quarter. Bleakley Financial Group LLC now owns 29,601 shares of the utilities provider’s stock worth $3,470,000 after buying an additional 1,446 shares in the last quarter. Finally, Marshall Investment Management LLC lifted its holdings in Duke Energy by 13.3% during the 4th quarter. Marshall Investment Management LLC now owns 24,595 shares of the utilities provider’s stock worth $2,883,000 after buying an additional 2,892 shares in the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Harry K. Sideris sold 20,000 shares of the stock in a transaction 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 transaction, the chief executive officer directly owned 96,102 shares of the company’s stock, valued at $11,952,205.74. This trade represents a 17.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction of $438,025.00. Following the completion of the transaction, 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. Company insiders own 0.12% of the company’s stock.

Duke Energy Price Performance

Shares of DUK opened at $125.78 on Tuesday. Duke Energy Corporation has a twelve month low of $113.39 and a twelve month high of $134.49. The firm’s fifty day simple moving average is $128.12 and its 200-day simple moving average is $124.04. The firm has a market capitalization of $98.06 billion, a price-to-earnings ratio of 19.26 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.

Duke Energy (NYSE:DUK) last announced its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, beating 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 business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period last year, the business earned $1.76 EPS. The company’s revenue was up 11.3% on a year-over-year basis. Equities analysts forecast that Duke Energy Corporation will post 6.71 EPS for the current fiscal year.

Duke Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Friday, May 15th will be given 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 dividend payout ratio (DPR) is 65.24%.

Analyst Upgrades and Downgrades

DUK has been the topic of a number of research reports. UBS Group reduced their target price on shares of Duke Energy from $137.00 to $135.00 in a report on Monday, May 11th. BTIG Research reiterated a “buy” rating and set a $141.00 target price on shares of Duke Energy in a report on Friday, January 30th. Morgan Stanley reduced their target price on shares of Duke Energy from $141.00 to $132.00 in a report on Thursday, May 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Duke Energy in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Duke Energy from $139.00 to $136.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Duke Energy presently has an average rating of “Moderate Buy” and an average price target of $139.07.

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.