Cornerstone Planning LLC Makes New Investment in Duke Energy Corporation $DUK

Cornerstone Planning LLC bought a new position in Duke Energy Corporation (NYSE:DUK) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 14,129 shares of the utilities provider’s stock, valued at approximately $1,602,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Duke Energy by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider’s stock valued at $9,172,709,000 after acquiring an additional 1,957,592 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Duke Energy by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 19,292,633 shares of the utilities provider’s stock worth $2,266,675,000 after purchasing an additional 230,375 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Duke Energy by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,931,127 shares of the utilities provider’s stock worth $1,046,818,000 after purchasing an additional 58,375 shares during the period. Franklin Resources Inc. lifted its stake in 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. Finally, Northern Trust Corp grew 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 valued at $960,139,000 after purchasing an additional 31,703 shares during the period. 65.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Louis E. Renjel sold 3,500 shares of the 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 sale, the chief executive officer directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Harry K. Sideris sold 20,000 shares of the firm’s 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 completion of the transaction, the chief executive officer owned 96,102 shares of the company’s stock, valued at $11,952,205.74. This trade represents a 17.23% 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.

Duke Energy Stock Down 0.0%

Duke Energy stock opened at $123.84 on Friday. The firm has a 50 day simple moving average of $125.43 and a 200 day simple moving average of $124.06. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. Duke Energy Corporation has a 1-year low of $113.89 and a 1-year high of $134.49. The firm has a market capitalization of $96.55 billion, a price-to-earnings ratio of 18.97 and a beta of 0.39.

Duke Energy (NYSE:DUK) last posted its earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share (EPS) 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 firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the prior year, the business posted $1.76 earnings per share. The business’s quarterly revenue was up 11.3% on a year-over-year basis. On average, analysts predict that Duke Energy Corporation will post 6.71 earnings per share for the current year.

Duke Energy Announces Dividend

The business 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 3.4%. Duke Energy’s dividend payout ratio (DPR) is currently 65.24%.

Analyst Upgrades and Downgrades

DUK has been the subject of a number of recent research reports. Capitol Sec Mgt downgraded Duke Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Morgan Stanley cut their price target on Duke Energy from $141.00 to $132.00 in a research note on Thursday, May 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Duke Energy in a report on Monday, May 4th. BTIG Research restated a “buy” rating and issued a $139.00 price objective on shares of Duke Energy in a research note on Tuesday, June 2nd. Finally, Mizuho dropped their price objective on shares of Duke Energy from $139.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $138.07.

Duke Energy News Summary

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.