Pinebridge Investments LLC Makes New $6.33 Million Investment in Duke Energy Corporation $DUK

Pinebridge Investments LLC purchased a new position in shares of Duke Energy Corporation (NYSE:DUK) in the fourth quarter, Holdings Channel reports. The fund purchased 53,971 shares of the utilities provider’s stock, valued at approximately $6,326,000.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Duke Energy by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider’s stock worth $9,172,709,000 after buying an additional 1,957,592 shares during the last quarter. Geode Capital Management LLC raised its position in 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 buying an additional 230,375 shares during the last quarter. Northern Trust Corp raised its position in Duke Energy by 0.4% during the 3rd quarter. Northern Trust Corp now owns 7,758,700 shares of the utilities provider’s stock worth $960,139,000 after buying an additional 31,703 shares during the last quarter. Franklin Resources Inc. raised its position in Duke Energy by 4.1% during the 3rd quarter. Franklin Resources Inc. now owns 7,281,986 shares of the utilities provider’s stock worth $901,146,000 after buying an additional 288,499 shares during the last quarter. Finally, Capital Research Global Investors raised its position in Duke Energy by 0.3% during the 3rd quarter. Capital Research Global Investors now owns 5,033,225 shares of the utilities provider’s stock worth $622,862,000 after buying an additional 12,758 shares during the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Duke Energy

In other Duke Energy news, CEO Harry K. Sideris sold 20,000 shares of Duke Energy 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 owned 96,102 shares of the company’s stock, valued at $11,952,205.74. The trade was a 17.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Louis E. Renjel sold 3,500 shares of Duke Energy stock in a transaction on Monday, May 11th. The stock was 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 in the company, valued at approximately $2,680,087.25. This trade represents a 14.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.12% of the company’s stock.

Duke Energy Price Performance

Shares of NYSE DUK opened at $124.28 on Monday. The firm has a market cap of $96.89 billion, a PE ratio of 19.03 and a beta of 0.39. The firm has a fifty day moving average of $126.82 and a 200 day moving average of $123.97. 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 Corporation has a one year low of $113.66 and a one year high of $134.49.

Duke Energy (NYSE:DUK) last announced 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 net margin of 15.49% and a return on equity of 9.73%. The company had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the previous year, the company posted $1.76 EPS. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, research analysts predict that Duke Energy Corporation will post 6.71 EPS for the current fiscal year.

Duke Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th will be paid a dividend of $1.065 per share. This represents a $4.26 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, May 15th. Duke Energy’s payout ratio is 65.24%.

Duke Energy News Roundup

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

• Positive Sentiment: The U.S. Department of Energy selected Duke Energy for up to $61.8 million in grant funding to upgrade coal-fired plants in Kentucky and North Carolina, lifting total federal support for Duke projects to nearly $96 million. The funding should help improve reliability and may reduce customer costs. Article Title
• Positive Sentiment: Duke Energy said it sees data centers driving power demand growth at roughly 10x historic pace, which supports a longer-term growth story for utility load and capital investment. Article Title
• Positive Sentiment: Duke Energy also received a separate $61.8 million DOE grant headline from market coverage, reinforcing investor interest in federal support for its coal plant modernization efforts. Article Title
• Neutral Sentiment: Duke Energy Foundation announced $500,000 in grants for South Carolina emergency preparedness and another $500,000 for small-business support in North Carolina. These are positive for reputation, but likely limited direct stock impact. Article Title
• Negative Sentiment: North Carolina customers and consumer groups are pushing back hard against Duke Energy’s proposed 18% rate hike, which could increase regulatory scrutiny and weigh on sentiment if approval becomes difficult. Article Title
• Negative Sentiment: St. Petersburg approved a feasibility study on leaving Duke Energy Florida for a city-run utility, a reminder of customer dissatisfaction and a potential long-term competitive/regulatory risk. Article Title

Analyst Upgrades and Downgrades

DUK has been the subject of a number of recent research reports. BMO Capital Markets reduced their price target on shares of Duke Energy from $139.00 to $138.00 in a research report on Wednesday, May 6th. JPMorgan Chase & Co. cut 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. The Goldman Sachs Group lifted their target price on shares of Duke Energy from $141.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. UBS Group cut their target price on shares of Duke Energy from $137.00 to $135.00 in a report on Monday, May 11th. Finally, Mizuho lifted their target price on shares of Duke Energy from $130.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Duke Energy currently has an average rating of “Moderate Buy” and an average target price of $138.93.

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.