34,277 Shares in Duke Energy Corporation $DUK Bought by Meritage Portfolio Management

Key Points

• Meritage Portfolio Management opened a new Q4 position in Duke Energy of 34,277 shares (≈$4.02M), and institutional investors now hold about 65.31% of the stock.
• Duke Energy beat Q4 expectations with EPS of $1.50 (vs. $1.49) and revenue of $7.94B (vs. $7.57B) despite lower year‑ago EPS, and analysts carry a consensus Hold rating with an average target of $140.38.
• CEO Louis E. Renjel sold 6,800 shares (~$868k), reducing his ownership by 23.61%; company insiders collectively own just 0.12% of the stock.

Meritage Portfolio Management bought a new position in Duke Energy Corporation (NYSE:DUK - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 34,277 shares of the utilities provider's stock, valued at approximately $4,018,000.

Several other large investors have also made changes to their positions in the company. SageGuard Financial Group LLC purchased a new position in shares of Duke Energy in the 4th quarter worth $11,352,000. Greystone Financial Group LLC raised its position in shares of Duke Energy by 7.3% in the 4th quarter. Greystone Financial Group LLC now owns 100,585 shares of the utilities provider's stock worth $11,790,000 after buying an additional 6,819 shares during the period. Legacy Advisors LLC purchased a new position in shares of Duke Energy in the 4th quarter worth $210,000. Richards Merrill & Peterson Inc. acquired a new stake in Duke Energy in the 4th quarter valued at $181,000. Finally, Smith Salley Wealth Management increased its holdings in Duke Energy by 4.0% in the 4th quarter. Smith Salley Wealth Management now owns 56,806 shares of the utilities provider's stock valued at $6,658,000 after purchasing an additional 2,184 shares in the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Stock Down 0.1%

Shares of Duke Energy stock opened at $127.88 on Tuesday. The business has a 50-day moving average of $129.66 and a 200-day moving average of $124.16. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.55 and a quick ratio of 0.33. The company has a market capitalization of $99.50 billion, a PE ratio of 20.23 and a beta of 0.46. Duke Energy Corporation has a 1-year low of $111.22 and a 1-year high of $134.49.

Duke Energy (NYSE:DUK - Get Free Report) last announced its earnings results on Monday, February 9th. The utilities provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.01. The company had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $7.57 billion. Duke Energy had a return on equity of 9.66% and a net margin of 15.41%.During the same period last year, the firm earned $1.66 earnings per share. As a group, equities analysts forecast that Duke Energy Corporation will post 6.7 EPS for the current fiscal year.

Insider Activity

In other news, CEO Louis E. Renjel sold 6,800 shares of the firm's stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $127.67, for a total transaction of $868,156.00. Following the completion of the sale, the chief executive officer directly owned 22,007 shares in the company, valued at $2,809,633.69. This trade represents a 23.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Regis T. Repko sold 962 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $127.86, for a total transaction of $123,001.32. Following the transaction, the senior vice president directly owned 3,896 shares in the company, valued at $498,142.56. The trade was a 19.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is owned by company insiders.

Analysts Set New Price Targets

DUK has been the subject of several recent research reports. BTIG Research reiterated a "buy" rating and issued a $141.00 price target on shares of Duke Energy in a report on Friday, January 30th. Morgan Stanley set a $139.00 price target on Duke Energy in a report on Friday, February 20th. Royal Bank Of Canada lowered their price target on Duke Energy from $143.00 to $140.00 and set a "sector perform" rating for the company in a report on Friday, January 23rd. Evercore reiterated an "in-line" rating and issued a $139.00 price target on shares of Duke Energy in a report on Thursday, March 5th. Finally, Wall Street Zen upgraded Duke Energy from a "sell" rating to a "hold" rating in a report on Saturday, March 28th. Ten research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Duke Energy currently has a consensus rating of "Hold" and an average target price of $140.38.

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.

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