Bank of New York Mellon Corp Makes New $605.68 Million Investment in Duke Energy Corporation $DUK

Bank of New York Mellon Corp bought a new stake in Duke Energy Corporation (NYSE:DUK - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,784,956 shares of the utilities provider's stock, valued at approximately $605,680,000. Bank of New York Mellon Corp owned approximately 0.61% of Duke Energy as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Basso Capital Management L.P. bought a new position in Duke Energy during the fourth quarter worth about $25,000. Evolution Wealth Management Inc. lifted its position in shares of Duke Energy by 1,111.1% in the fourth quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider's stock valued at $26,000 after buying an additional 200 shares during the last quarter. Triumph Capital Management boosted its position in shares of Duke Energy by 68.6% in the fourth quarter. Triumph Capital Management now owns 231 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 94 shares during the period. Cornerstone Financial Management LLC acquired a new position in Duke Energy during the fourth quarter valued at approximately $28,000. Finally, Mowery & Schoenfeld Wealth Management LLC raised its position in Duke Energy by 300.0% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 280 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company's stock.

Analyst Upgrades and Downgrades

DUK has been the subject of several research analyst reports. Barclays decreased their price target on shares of Duke Energy from $140.00 to $132.00 and set an "overweight" rating for the company in a research note on Wednesday, August 5th. Jefferies Financial Group reduced their price objective on Duke Energy from $143.00 to $138.00 in a research report on Monday, May 11th. KeyCorp upgraded Duke Energy from a "sector weight" rating to an "overweight" rating and set a $139.00 price target on the stock in a report on Thursday, July 23rd. Morgan Stanley reduced their target price on shares of Duke Energy from $138.00 to $133.00 and set an "equal weight" rating on the stock in a research report on Friday. Finally, UBS Group reduced their price objective on Duke Energy from $137.00 to $135.00 in a report on Monday, May 11th. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $137.94.

Key Duke Energy News

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

• Positive Sentiment: Duke’s proposed Carolinas resource plan targets 18.5 gigawatts of new solar capacity by 2041, reflecting strong electricity-demand growth in North and South Carolina. The plan could support long-term rate-base expansion, although it also implies substantial capital spending. Duke’s Carolinas resource plan targets 18.5 GW new solar by 2041
• Neutral Sentiment: Power was restored in northeast Charlotte after a damaged pole left thousands of Duke customers without electricity. The incident highlights storm-related reliability costs but appears to have been resolved. Power restored after damaged pole caused thousands of Duke Energy customers to be without power
• Neutral Sentiment: Severe thunderstorms caused outages across the Charlotte region and parts of western and upstate North Carolina. Temporary outages may increase restoration expenses and draw attention to grid resilience, but no lasting financial impact was reported. Tracking Duke Energy power outages amid rain severe storms in Charlotte region Thousands without power in Upstate and western North Carolina
• Neutral Sentiment: Duke employees assembled 10,000 hygiene kits for people in need. The community initiative supports the company’s public image but is unlikely to materially affect earnings. Duke Energy volunteers assemble 10,000 hygiene kits
• Negative Sentiment: Morgan Stanley lowered its Duke Energy price target from $138 to $133 and maintained an “equal weight” rating. The revision signals limited near-term conviction despite the target implying potential upside from the referenced price. Morgan Stanley lowers Duke Energy price target
• Negative Sentiment: Duke is seeking to disqualify a consumer group from hearings concerning Florida data centers, a move that could intensify regulatory and public-relations scrutiny over data-center electricity costs and customer protections. Duke Energy tries to disqualify consumer group from Florida data center hearings
• Negative Sentiment: Criticism that Duke’s policies place disproportionate costs on its poorest North Carolina customers adds political and regulatory risk, potentially complicating rate cases and future infrastructure spending. Duke Energy deals double whammy to its poorest North Carolina customers

Duke Energy Stock Down 2.3%

Shares of DUK opened at $119.89 on Friday. The firm has a market cap of $93.48 billion, a P/E ratio of 18.00, a PEG ratio of 2.86 and a beta of 0.38. The stock's 50 day moving average is $125.64 and its two-hundred day moving average is $126.62. The company has a current ratio of 0.66, a quick ratio of 0.43 and a debt-to-equity ratio of 1.47. Duke Energy Corporation has a 12 month low of $113.89 and a 12 month high of $134.49.

Duke Energy (NYSE:DUK - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.30 by $0.13. The firm had revenue of $7.59 billion during the quarter, compared to analysts' expectations of $7.66 billion. Duke Energy had a return on equity of 9.78% and a net margin of 15.78%.The business's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 earnings per share. Analysts predict that Duke Energy Corporation will post 6.72 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be paid a dividend of $1.085 per share. The ex-dividend date is Friday, August 14th. This is a positive change from Duke Energy's previous quarterly dividend of $1.06. This represents a $4.34 dividend on an annualized basis and a dividend yield of 3.6%. Duke Energy's payout ratio is currently 65.17%.

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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