AMG National Trust Bank Raises Position in Duke Energy Corporation $DUK

AMG National Trust Bank lifted its position in Duke Energy Corporation (NYSE:DUK) by 35.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,846 shares of the utilities provider’s stock after buying an additional 7,883 shares during the period. AMG National Trust Bank’s holdings in Duke Energy were worth $3,908,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings 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 worth $9,172,709,000 after acquiring an additional 1,957,592 shares during the last quarter. Amundi lifted its holdings in shares of Duke Energy by 56.9% during the fourth quarter. Amundi now owns 2,662,460 shares of the utilities provider’s stock valued at $312,067,000 after purchasing an additional 965,808 shares in the last quarter. Franklin Resources Inc. lifted its holdings 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 purchasing an additional 954,907 shares in the last quarter. Milford Funds Ltd. purchased a new stake in shares of Duke Energy during the fourth quarter valued at $97,905,000. Finally, Cohen & Steers Inc. increased its holdings in Duke Energy by 83.3% in the 4th quarter. Cohen & Steers Inc. now owns 1,711,445 shares of the utilities provider’s stock worth $200,598,000 after buying an additional 777,878 shares in the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Key Headlines Impacting Duke Energy

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

• Positive Sentiment: Duke Energy declared a quarterly dividend of $1.085 per share, up $0.02, reinforcing its appeal as a income-focused utility stock. Duke Energy announces dividend payments to shareholders
• Positive Sentiment: Reports that Duke Energy and North Carolina officials reached a settlement over proposed rate hikes could reduce regulatory uncertainty and support future earnings. Duke Energy, state officials reach settlement in NC electric rate hike case
• Positive Sentiment: The company’s push toward nuclear power as offshore wind becomes less attractive may be viewed as a long-term strategic move to meet rising power demand from data centers and industrial customers. Duke Energy (DUK) Is Betting On Nuclear As Offshore Wind Loses Favor
• Neutral Sentiment: Clearwater is considering a 30-year agreement with Duke Energy to maintain the local power grid, which signals ongoing infrastructure relationships but does not appear to be a near-term earnings catalyst. Clearwater set to vote on 30-year agreement to maintain Duke Energy power grid
• Negative Sentiment: Media reports that vulnerable customers may lose monthly bill credits and that utility companies sought record rate increases could keep public and regulatory scrutiny on Duke Energy’s pricing practices. Vulnerable Duke Energy customers set to lose monthly bill credit many don’t know they receive Utilities sought record rate increases this spring as Duke’s request remains before NC regulators

Duke Energy Trading Down 0.3%

Shares of NYSE:DUK opened at $126.48 on Wednesday. The stock’s 50-day simple moving average is $124.87 and its two-hundred day simple moving average is $125.31. The stock has a market capitalization of $98.60 billion, a price-to-earnings ratio of 19.37 and a beta of 0.38. Duke Energy Corporation has a 52-week low of $113.89 and a 52-week high of $134.49. 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 results on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, beating the consensus estimate of $1.87 by $0.06. The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.76 EPS. Analysts expect 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 issued 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 of this dividend was Friday, May 15th. Duke Energy’s dividend payout ratio is currently 65.24%.

Insider Activity at Duke Energy

In other news, CEO Louis E. Renjel sold 3,500 shares of Duke Energy 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 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Harry K. Sideris sold 20,000 shares of the business’s stock in a transaction 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 directly owned 96,102 shares of the company’s stock, valued at approximately $11,952,205.74. The trade was a 17.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DUK has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Duke Energy from $139.00 to $136.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. BMO Capital Markets reduced their price target on shares of Duke Energy from $139.00 to $138.00 in a research note on Wednesday, May 6th. Wells Fargo & Company boosted their price objective on shares of Duke Energy from $135.00 to $136.00 and gave the company an “equal weight” rating in a report on Monday, April 20th. Weiss Ratings restated a “buy (b)” rating on shares of Duke Energy in a research report on Monday, May 4th. Finally, Capitol Sec Mgt cut shares of Duke Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.33.

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.