Duke Energy Corporation $DUK Shares Bought by Corundum Group Inc.

Corundum Group Inc. lifted its stake in shares of Duke Energy Corporation (NYSE:DUK) by 172.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,767 shares of the utilities provider’s stock after acquiring an additional 6,822 shares during the quarter. Corundum Group Inc.’s holdings in Duke Energy were worth $1,410,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Basso Capital Management L.P. purchased a new position in Duke Energy in the 4th quarter worth about $25,000. Dorato Capital Management purchased a new stake in Duke Energy during the fourth quarter valued at about $26,000. Evolution Wealth Management Inc. boosted its holdings in shares of Duke Energy by 1,111.1% in the fourth quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock worth $26,000 after buying an additional 200 shares during the period. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Duke Energy in the third quarter worth about $27,000. Finally, Triumph Capital Management increased its position in shares of Duke Energy by 68.6% in the fourth quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 94 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DUK has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Duke Energy from $132.00 to $136.00 in a research report on Wednesday. Capitol Sec Mgt cut shares of Duke Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. BTIG Research reissued a “buy” rating and set a $139.00 target price on shares of Duke Energy in a research note on Tuesday, June 2nd. Wall Street Zen upgraded Duke Energy from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Finally, JPMorgan Chase & Co. decreased their target price on Duke Energy from $139.00 to $136.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $138.33.

Key Stories Impacting Duke Energy

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

• Positive Sentiment: Morgan Stanley raised its price target on Duke Energy to $136 from $132, signaling about 8.7% upside from recent trading levels and reinforcing a constructive view on the utility. Morgan Stanley adjusts price target on Duke Energy to 136 from 132, maintains Equal Weight rating
• Positive Sentiment: Two articles highlighted Duke Energy as one of the better S&P 500 dividend stocks, pointing to its 3.41% annual dividend yield and defensive utility profile, which may appeal to income-focused investors. Is Duke Energy (DUK) One of the Best S&P 500 Stocks to Buy for Dividends?
• Positive Sentiment: Duke Energy Foundation announced more than $550,000 in America250 grants in South Carolina and North Carolina, a modest positive for sentiment and brand image but not a major financial driver. Duke Energy Foundation completes more than $550,000 in grants

Duke Energy Stock Performance

DUK stock opened at $126.33 on Thursday. The firm has a 50 day simple moving average of $125.03 and a 200 day simple moving average of $124.22. Duke Energy Corporation has a 52 week low of $113.89 and a 52 week high of $134.49. The stock has a market cap of $98.49 billion, a P/E ratio of 19.35 and a beta of 0.39. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.44 and a current ratio of 0.66.

Duke Energy (NYSE:DUK) last released its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $8.44 billion. During the same quarter in the prior year, the business earned $1.76 EPS. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. Research analysts anticipate that Duke Energy Corporation will post 6.71 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th were paid a $1.065 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. Duke Energy’s dividend payout ratio is 65.24%.

Insider Buying and Selling at Duke Energy

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

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.