Allstate Corp Has $6.93 Million Stock Holdings in Duke Energy Corporation $DUK

Key Points

• Allstate Corp more than doubled its Duke Energy stake in the fourth quarter, boosting holdings by 107% to 59,097 shares valued at about $6.93 million.
• Duke Energy reported better-than-expected quarterly results, with EPS of $1.93 versus estimates of $1.87 and revenue of $9.18 billion, up 11.3% year over year.
• The company also announced a quarterly dividend of $1.065 per share, equal to an annualized yield of about 3.4%, while analysts kept the stock at a Moderate Buy consensus with an average target price of $139.07.

Allstate Corp boosted its holdings in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 107.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,097 shares of the utilities provider's stock after buying an additional 30,543 shares during the period. Allstate Corp's holdings in Duke Energy were worth $6,927,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of DUK. Dorato Capital Management bought a new stake in shares of Duke Energy in the 4th quarter worth $26,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Duke Energy in the 3rd quarter worth $27,000. Lodestone Wealth Management LLC bought a new stake in shares of Duke Energy in the 4th quarter worth $30,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of Duke Energy by 300.0% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 280 shares of the utilities provider's stock worth $33,000 after acquiring an additional 210 shares in the last quarter. Finally, Cornerstone Planning Group LLC grew its stake 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 acquiring an additional 275 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company's stock.

Insider Activity

In other news, CEO Harry K. Sideris sold 20,000 shares of the company's stock in a transaction dated 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 sale, the chief executive officer owned 96,102 shares of the company's stock, valued at $11,952,205.74. This represents a 17.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Louis E. Renjel sold 3,500 shares of the company's stock in a transaction dated 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. The trade was a 14.05% 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.

Duke Energy Stock Performance

Shares of Duke Energy stock opened at $125.08 on Wednesday. The business has a fifty day simple moving average of $127.96 and a two-hundred day simple moving average of $124.05. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $97.51 billion, a P/E ratio of 19.15 and a beta of 0.41. Duke Energy Corporation has a 12 month low of $113.39 and a 12 month high of $134.49.

Duke Energy (NYSE:DUK - Get Free Report) last posted its quarterly 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. The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.44 billion. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.Duke Energy's quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.76 EPS. On average, equities analysts forecast that Duke Energy Corporation will post 6.71 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The firm 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 $1.065 dividend. This represents a $4.26 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, May 15th. Duke Energy's dividend payout ratio (DPR) is presently 65.24%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on DUK shares. Truist Financial reduced their price target on shares of Duke Energy from $142.00 to $137.00 and set a "buy" rating for the company in a research report on Monday, May 18th. Wall Street Zen raised shares of Duke Energy from a "sell" rating to a "hold" rating in a report on Saturday, March 28th. Wells Fargo & Company raised their target price on shares of Duke Energy from $135.00 to $136.00 and gave the company an "equal weight" rating in a research note on Monday, April 20th. JPMorgan Chase & Co. reduced their price target on shares of Duke Energy from $139.00 to $136.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 13th. Finally, BTIG Research reiterated a "buy" rating and set a $141.00 price target on shares of Duke Energy in a research report on Friday, January 30th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $139.07.

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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