Hudson Edge Investment Partners Inc. Has $7.30 Million Position in Duke Energy Corporation $DUK

Hudson Edge Investment Partners Inc. cut its stake in Duke Energy Corporation (NYSE:DUK) by 12.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,737 shares of the utilities provider’s stock after selling 7,580 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Duke Energy were worth $7,298,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in Duke Energy by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider’s stock valued at $9,172,709,000 after buying an additional 1,957,592 shares during the last quarter. Amundi lifted its position in Duke Energy by 56.9% during the fourth quarter. Amundi now owns 2,662,460 shares of the utilities provider’s stock worth $312,067,000 after acquiring an additional 965,808 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Duke Energy by 13.1% in the fourth quarter. Franklin Resources Inc. now owns 8,236,893 shares of the utilities provider’s stock valued at $965,446,000 after purchasing an additional 954,907 shares during the last quarter. Milford Funds Ltd. bought a new position in shares of Duke Energy during the fourth quarter worth approximately $97,905,000. Finally, Cohen & Steers Inc. lifted its holdings in Duke Energy by 83.3% during the 4th quarter. Cohen & Steers Inc. now owns 1,711,445 shares of the utilities provider’s stock worth $200,598,000 after purchasing an additional 777,878 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.

Duke Energy Trading Down 0.1%

Shares of DUK stock opened at $129.44 on Friday. The stock has a market cap of $100.91 billion, a P/E ratio of 19.82 and a beta of 0.38. Duke Energy Corporation has a 1 year low of $113.89 and a 1 year high of $134.49. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. The stock has a 50 day simple moving average of $125.06 and a 200 day simple moving average of $124.78.

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 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 firm had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the previous year, the firm earned $1.76 EPS. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, research analysts predict that Duke Energy Corporation will post 6.71 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

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

Insider Activity

In related news, CEO Harry K. Sideris sold 20,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the sale, the chief executive officer owned 96,102 shares in the company, valued at approximately $11,952,205.74. This trade represents a 17.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Louis E. Renjel sold 3,500 shares of Duke Energy stock in a transaction that occurred 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. 0.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on DUK. Morgan Stanley upped their price objective on Duke Energy from $132.00 to $136.00 in a report on Wednesday, June 24th. BMO Capital Markets dropped their target price on Duke Energy from $139.00 to $138.00 in a report on Wednesday, May 6th. Evercore boosted their target price on shares of Duke Energy from $139.00 to $140.00 in a research report on Monday, May 11th. Mizuho decreased 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 note on Thursday, June 18th. Finally, Jefferies Financial Group lowered their price target on shares of Duke Energy from $143.00 to $138.00 in a research report on Monday, May 11th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.33.

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.