AXQ Capital LP Invests $1.32 Million in Duke Energy Corporation $DUK

AXQ Capital LP purchased a new stake in Duke Energy Corporation (NYSE:DUK) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 11,296 shares of the utilities provider’s stock, valued at approximately $1,324,000.

Other large investors have also made changes to their positions in the company. Dorato Capital Management purchased a new position in shares of Duke Energy in the 4th quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Duke Energy in the 3rd quarter valued at about $27,000. Lodestone Wealth Management LLC purchased a new position in shares of Duke Energy in the 4th quarter valued at about $30,000. Wiser Advisor Group LLC purchased a new position in shares of Duke Energy in the 3rd quarter valued at about $34,000. Finally, Cornerstone Planning Group LLC increased its holdings in shares of 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 purchasing an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Insider Activity

In other Duke Energy news, CEO Louis E. Renjel sold 3,500 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $125.15, for a total transaction of $438,025.00. Following the sale, the chief executive officer directly owned 21,415 shares of the company’s stock, valued at $2,680,087.25. This trade represents a 14.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Harry K. Sideris sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the sale, the chief executive officer directly owned 96,102 shares in the company, valued at $11,952,205.74. This represents a 17.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.12% of the stock is owned by company insiders.

Analysts Set New Price Targets

DUK has been the subject of a number of research analyst reports. Jefferies Financial Group cut their price target on shares of Duke Energy from $143.00 to $138.00 in a report on Monday, May 11th. The Goldman Sachs Group increased their price target on shares of Duke Energy from $141.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Truist Financial cut their price target on shares of Duke Energy from $142.00 to $137.00 and set a “buy” rating for the company in a report on Monday, May 18th. Evercore increased their price target on shares of Duke Energy from $139.00 to $140.00 in a report on Monday, May 11th. Finally, Morgan Stanley cut their price target on shares of Duke Energy from $141.00 to $132.00 in a report on Thursday, May 21st. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Duke Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.07.

Duke Energy Price Performance

Shares of NYSE DUK opened at $119.82 on Tuesday. The stock has a market cap of $93.41 billion, a price-to-earnings ratio of 18.35 and a beta of 0.39. Duke Energy Corporation has a 52 week low of $113.66 and a 52 week high of $134.49. The company’s 50-day moving average price is $127.25 and its 200 day moving average price is $124.02. 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 issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.93 EPS 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 firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the prior year, the company earned $1.76 EPS. The firm’s revenue was up 11.3% on a year-over-year basis. As a group, research analysts forecast that Duke Energy Corporation will post 6.71 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th will be paid a dividend of $1.065 per share. This represents a $4.26 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, May 15th. Duke Energy’s dividend payout ratio (DPR) 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.