Kingsview Wealth Management LLC lifted its holdings in Duke Energy Corporation (NYSE:DUK – Free Report) by 16.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 62,308 shares of the utilities provider’s stock after buying an additional 8,761 shares during the period. Kingsview Wealth Management LLC’s holdings in Duke Energy were worth $7,303,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the business. Dorato Capital Management purchased a new position in Duke Energy in the fourth quarter worth about $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Duke Energy during the third quarter valued at approximately $27,000. Lodestone Wealth Management LLC bought a new stake in shares of Duke Energy in the 4th quarter valued at approximately $30,000. Wiser Advisor Group LLC bought a new stake in shares of Duke Energy in the 3rd quarter valued at approximately $34,000. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of Duke Energy by 13,750.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 277 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 275 shares during the period. 65.31% of the stock is currently owned by hedge funds and other institutional investors.
Duke Energy Price Performance
DUK opened at $123.70 on Friday. The business has a fifty day moving average of $127.61 and a 200 day moving average of $124.05. The stock has a market cap of $96.43 billion, a P/E ratio of 18.94 and a beta of 0.41. The company has a quick ratio of 0.44, a current ratio of 0.66 and a debt-to-equity ratio of 1.45. Duke Energy Corporation has a 52-week low of $113.39 and a 52-week high of $134.49.
Duke Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Friday, May 15th will be issued a dividend of $1.065 per share. The ex-dividend date is Friday, May 15th. This represents a $4.26 dividend on an annualized basis and a yield of 3.4%. Duke Energy’s dividend payout ratio (DPR) is presently 65.24%.
Key Stories Impacting Duke Energy
Here are the key news stories impacting Duke Energy this week:
- Positive Sentiment: Duke Energy was named among the utilities to watch as wind energy adoption and broader clean-power demand continue to rise, which could support long-term load growth and investment opportunities. Top Wind Energy Stocks to Watch Amid Increased Adoption of Clean Energy
- Positive Sentiment: The Duke Energy Foundation announced $500,000 in grants to improve hurricane preparedness in North Carolina, reinforcing its focus on storm readiness and community resilience ahead of hurricane season. Ahead of hurricane season, Duke Energy Foundation awards $500,000 to strengthen storm preparedness across North Carolina
- Positive Sentiment: South Carolina regulators approved Duke Energy’s new nonresidential demand response program, which lets customers earn bill credits while helping the utility manage peak demand and improve grid reliability. New Duke Energy program helps South Carolina nonresidential customers lower costs while supporting a growing grid
- Neutral Sentiment: Several articles note that investors are closely watching Duke Energy’s shares, but they do not point to a major new fundamental catalyst by themselves. Duke Energy Corporation (DUK) is Attracting Investor Attention: Here is What You Should Know
- Neutral Sentiment: Morgan Stanley cut its price target on Duke Energy to $132 from $141 while keeping an Equal Weight rating, which may temper sentiment but does not indicate a bearish call. Morgan Stanley Revises Duke Energy (DUK) Valuation Following Utility Sector Update
- Negative Sentiment: News that the Supreme Court affirmed Duke Energy’s rate hikes may keep regulatory risk in focus, since approved increases can still draw political and customer scrutiny. Duke Energy rate hikes affirmed by Supreme Court
Analyst Ratings Changes
DUK has been the topic of several recent research reports. Jefferies Financial Group decreased their price target on Duke Energy from $143.00 to $138.00 in a report on Monday, May 11th. BTIG Research reaffirmed a “buy” rating and set a $141.00 price objective on shares of Duke Energy in a research note on Friday, January 30th. Barclays increased their target price on shares of Duke Energy from $127.00 to $143.00 and gave the company an “overweight” rating in a research note on Tuesday, April 7th. JPMorgan Chase & Co. lowered their target price on shares of Duke Energy from $139.00 to $136.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Finally, Wall Street Zen upgraded shares of Duke Energy from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $139.07.
Check Out Our Latest Analysis on Duke Energy
Insider Transactions at Duke Energy
In other news, 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 transaction, the chief executive officer directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed 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 sale, the chief executive officer directly owned 21,415 shares of the company’s stock, valued at $2,680,087.25. This represents a 14.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.12% of the company’s stock.
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.
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