Apollon Wealth Management LLC Acquires 4,121 Shares of Duke Energy Corporation $DUK

Apollon Wealth Management LLC boosted its stake in shares of Duke Energy Corporation (NYSE:DUK) by 9.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 48,647 shares of the utilities provider’s stock after buying an additional 4,121 shares during the quarter. Apollon Wealth Management LLC’s holdings in Duke Energy were worth $6,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Basso Capital Management L.P. acquired a new stake in Duke Energy in the 4th quarter valued at $25,000. Dorato Capital Management acquired a new position in Duke Energy during the fourth quarter worth $26,000. Evolution Wealth Management Inc. raised its stake in Duke Energy by 1,111.1% during the fourth quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. KERR FINANCIAL PLANNING Corp bought a new position in shares of Duke Energy during the third quarter valued at $27,000. Finally, Triumph Capital Management boosted its stake in shares of Duke Energy by 68.6% in the 4th quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 94 shares in the last quarter. Institutional investors own 65.31% of the company’s stock.

Insider Buying and Selling at Duke Energy

In other news, 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 value of $2,487,400.00. Following the completion of the transaction, the chief executive officer owned 96,102 shares in the company, valued at $11,952,205.74. This trade represents a 17.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Louis E. Renjel sold 3,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 21,415 shares of the company’s stock, valued at approximately $2,680,087.25. This represents a 14.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

DUK has been the topic of a number of recent analyst reports. Mizuho reduced their price target on shares of Duke Energy from $139.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, June 18th. Evercore lifted their target price on shares of Duke Energy from $139.00 to $140.00 in a research note on Monday, May 11th. Barclays decreased their price target on Duke Energy from $143.00 to $134.00 and set an “overweight” rating on the stock in a research report on Thursday, June 18th. Wells Fargo & Company raised their price target on Duke Energy from $135.00 to $136.00 and gave the company an “equal weight” rating in a report on Monday, April 20th. Finally, Morgan Stanley lifted their price objective on Duke Energy from $132.00 to $136.00 in a research report on Wednesday, June 24th. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $138.33.

Key Headlines Impacting Duke Energy

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

• Positive Sentiment: Duke Energy reached a settlement to terminate its North Carolina offshore wind lease and may redirect roughly $129 million into new generating capacity and grid modernization, including possible nuclear and natural gas investments, which investors may view as a better use of capital than a delayed wind project. Reuters: Duke Energy to terminate North Carolina offshore wind lease
• Positive Sentiment: A Zacks note highlighted Duke Energy’s $103 billion investment plan, pointing to grid upgrades, new generation, and rising power demand as drivers of multi-year earnings and dividend growth. Zacks: Can Duke Energy’s Investment Plan Deliver Years of Earnings Growth?
• Positive Sentiment: Morgan Stanley reportedly raised its price target on Duke Energy, reinforcing a more bullish outlook from analysts. Yahoo Finance: Morgan Stanley Lifts Price Target on Duke Energy (DUK). Here is Why
• Neutral Sentiment: Duke Energy launched AI-powered Bill Insights and summer energy-saving tips for customers, a customer-service initiative that is unlikely to materially affect near-term earnings but could support utility usage management during peak demand. PR Newswire: New this summer: An easier way to understand your energy bill
• Neutral Sentiment: Severe weather and heat-wave headlines noted outages and conservation requests in Duke Energy’s service areas, but these appear to be near-term operational issues rather than a fundamental change in the company’s outlook. MSN: Over 1,000 Duke Energy customers without power in New Hanover County
• Negative Sentiment: Duke Energy trimmed its North Carolina rate-hike request from 18% to 11.6%, which may ease customer backlash but could also reduce upside from the company’s regulatory ask. MSN: Duke Energy cuts North Carolina rate hike request from 18% to 11.6%

Duke Energy Stock Performance

Shares of Duke Energy stock opened at $128.28 on Tuesday. The firm has a fifty day moving average of $124.97 and a two-hundred day moving average of $124.48. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.44 and a current ratio of 0.66. The stock has a market capitalization of $100.00 billion, a price-to-earnings ratio of 19.64 and a beta of 0.39. Duke Energy Corporation has a 52 week low of $113.89 and a 52 week high of $134.49.

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, topping 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 business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the firm earned $1.76 EPS. Duke Energy’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, equities research analysts predict that Duke Energy Corporation will post 6.71 EPS for the current year.

Duke Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th were paid a $1.065 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.26 annualized dividend and a yield of 3.3%. Duke Energy’s payout ratio is presently 65.24%.

Duke Energy Company 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.