Bayban Invests $517,000 in Duke Energy Corporation $DUK

Bayban bought a new stake in Duke Energy Corporation (NYSE:DUK) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,415 shares of the utilities provider’s stock, valued at approximately $517,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DUK. Vanguard Group Inc. lifted its position in shares of Duke Energy by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider’s stock worth $9,172,709,000 after buying an additional 1,957,592 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Duke Energy by 1.2% in 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 acquiring an additional 230,375 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Duke Energy by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,931,127 shares of the utilities provider’s stock valued at $1,046,818,000 after acquiring an additional 58,375 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Duke Energy by 13.1% during the fourth 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 during the last quarter. Finally, Northern Trust Corp lifted its holdings in Duke Energy by 0.4% during the third quarter. Northern Trust Corp now owns 7,758,700 shares of the utilities provider’s stock worth $960,139,000 after acquiring an additional 31,703 shares during the period. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Stock Performance

Shares of DUK opened at $123.84 on Friday. Duke Energy Corporation has a 1 year low of $113.89 and a 1 year high of $134.49. 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 stock’s fifty day moving average price is $125.43 and its two-hundred day moving average price is $124.06. The firm has a market cap of $96.55 billion, a PE ratio of 18.97 and a beta of 0.39.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.06. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the prior year, the company earned $1.76 EPS. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, equities research analysts forecast that Duke Energy Corporation will post 6.71 EPS for the current year.

Duke Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th were given a dividend of $1.065 per share. This represents a $4.26 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Friday, May 15th. Duke Energy’s dividend payout ratio (DPR) is currently 65.24%.

Insider Activity

In related news, CEO Harry K. Sideris sold 20,000 shares of Duke Energy 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 completion of the transaction, the chief executive officer directly owned 96,102 shares in the company, valued at approximately $11,952,205.74. The trade was a 17.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Louis E. Renjel sold 3,500 shares of the business’s 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 sale, the chief executive officer directly owned 21,415 shares in the company, valued at $2,680,087.25. The trade was a 14.05% decrease in their position. The SEC filing for this sale provides additional information. 0.12% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

DUK has been the topic of several research analyst reports. Truist Financial cut their price objective on Duke Energy from $142.00 to $137.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. JPMorgan Chase & Co. lowered their target price on Duke Energy from $139.00 to $136.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. BTIG Research restated a “buy” rating and set a $139.00 price target on shares of Duke Energy in a research report on Tuesday, June 2nd. Jefferies Financial Group decreased their price objective on shares of Duke Energy from $143.00 to $138.00 in a report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Duke Energy in a research report on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $138.07.

Key Stories Impacting Duke Energy

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

• Positive Sentiment: Duke Energy is being highlighted as one of the large-cap dividend stocks that retirees are quietly buying, reinforcing its appeal as a steady income name for investors looking for yield and defensive cash flow. 3 Stocks Retirees Are Quietly Loading Up on in June
• Positive Sentiment: Another article also grouped Duke Energy with other utility stocks viewed as sources of passive income, which may support investor interest in the stock’s defensive dividend profile. 3 Utility Stocks For Years of Passive Income
• Positive Sentiment: Mizuho lowered its price target on Duke Energy only modestly to $135 from $139 while keeping an outperform rating, suggesting analysts still see upside from current levels. Mizuho PT Lowered to $135 at Mizuho
• Neutral Sentiment: Duke Energy Florida issued a customer energy-use reminder ahead of summer, which is routine utility communications and not likely to materially move the stock. Summer starts June 21: Duke Energy Florida highlights five key appliances to help customers manage energy use
• Neutral Sentiment: Several local outage reports and safety demonstrations are operational headlines that reflect day-to-day utility issues rather than a major change in Duke Energy’s earnings outlook. Duke Energy: Hundreds of customers without power in Greenville County
• Negative Sentiment: Coverage about a regulator sitting out Duke Energy carbon plan decisions and a separate story about a city examining whether to leave the utility add a bit of regulatory and political uncertainty. Pro-coal state regulator won’t participate in Duke Energy Carbon Plan decisions
• Negative Sentiment: Recent trading commentary noted that Duke Energy has been declining more than the broader market, indicating some near-term pressure on shares. Duke Energy (DUK) Declines More Than Market: Some Information for Investors

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.