Bessemer Group Inc. Has $138.69 Million Position in Duke Energy Corporation $DUK

Key Points

• Bessemer Group Inc. trimmed its Duke Energy stake by 4.8% in the fourth quarter, but still held 1.18 million shares worth about $138.7 million at the end of the period.
• Insiders sold shares recently: CEO Harry K. Sideris and CEO Louis E. Renjel both reduced their holdings, and insiders sold a total of 24,462 shares worth about $3.05 million last quarter.
• Duke Energy beat earnings expectations in its latest quarter, reporting EPS of $1.93 versus $1.87 expected and revenue of $9.18 billion versus $8.44 billion expected, while also declaring a quarterly dividend of $1.065 per share.

Bessemer Group Inc. lowered its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,183,214 shares of the utilities provider's stock after selling 59,546 shares during the quarter. Bessemer Group Inc. owned approximately 0.15% of Duke Energy worth $138,685,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Dorato Capital Management acquired a new stake in Duke Energy in the fourth quarter valued at $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Duke Energy in the third quarter valued at $27,000. Lodestone Wealth Management LLC acquired a new stake in Duke Energy in the fourth quarter valued at $30,000. Mowery & Schoenfeld Wealth Management LLC lifted its stake 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 acquiring an additional 210 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its stake in Duke Energy by 13,750.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 277 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 275 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company's stock.

Insiders Place Their Bets

In other Duke Energy news, CEO Harry K. Sideris sold 20,000 shares of Duke Energy stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $124.37, for a total value of $2,487,400.00. Following the completion of the sale, the chief executive officer owned 96,102 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Also, CEO Louis E. Renjel sold 3,500 shares of Duke Energy stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $125.15, for a total transaction of $438,025.00. Following the completion of the sale, the chief executive officer owned 21,415 shares of the company's stock, valued at $2,680,087.25. This trade represents a 14.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 24,462 shares of company stock worth $3,048,426 in the last quarter. 0.12% of the stock is currently owned by corporate insiders.

Duke Energy Stock Performance

NYSE DUK opened at $120.98 on Friday. The firm has a 50-day moving average of $128.90 and a 200-day moving average of $124.06. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.44 and a current ratio of 0.66. The stock has a market cap of $94.31 billion, a PE ratio of 18.53 and a beta of 0.41. Duke Energy Corporation has a 52-week low of $113.39 and a 52-week high of $134.49.

Duke Energy (NYSE:DUK - Get Free Report) last posted its earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.87 by $0.06. The company had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. Duke Energy's quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.76 EPS. On average, sell-side analysts anticipate that Duke Energy Corporation will post 6.7 EPS for the current year.

Duke Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th will be paid a $1.065 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.26 annualized dividend and a yield of 3.5%. Duke Energy's payout ratio is 65.24%.

Key Headlines Impacting Duke Energy

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

• Positive Sentiment: Duke Energy held a groundbreaking ceremony for its Cayuga Energy Complex, signaling continued investment in its generation and infrastructure buildout, which can support future regulated-rate growth. Duke Energy holds a groundbreaking ceremony for their Cayuga Energy Complex
• Positive Sentiment: The company reported that no toxic algae was found at the Lake Norman site after an earlier state finding, which may reduce environmental and reputational concerns. Duke Energy: No toxic algae found at Lake Norman site where state said it was
• Neutral Sentiment: DUK remains a heavily watched stock, with investor attention likely reflecting interest in its defensive utility profile and upcoming rate/regulatory developments. Duke Energy Corporation (DUK) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Reports that Duke Energy’s North Carolina rate-increase hearing was postponed could delay a key catalyst for earnings and cash-flow improvement, but the impact is still uncertain. Duke Energy rate-increase hearing postponed over missed scheduling deadline
• Neutral Sentiment: The company’s claims that a merger will save customers $2.3 billion and news about combining its two North Carolina utilities may help long-term efficiency, but investors are likely waiting to see regulatory details. Duke Energy claims merger to save customers $2.3 billion, double initial estimate
• Negative Sentiment: Questions around North Carolina policy and legal issues tied to Duke Energy’s solar plans could add uncertainty to future capital spending and regulatory approval. Shunning the sunshine? NC order for Duke Energy to hit brakes on solar raises policy, legal questions

Analyst Upgrades and Downgrades

A number of analysts have commented on DUK shares. Wall Street Zen upgraded shares of Duke Energy from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. Capitol Sec Mgt cut shares of Duke Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 10th. Royal Bank Of Canada cut their price target on shares of Duke Energy from $143.00 to $140.00 and set a "sector perform" rating for the company in a research note on Friday, January 23rd. Barclays raised their target price on shares of Duke Energy from $127.00 to $143.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 7th. Finally, The Goldman Sachs Group raised their target price on shares of Duke Energy from $141.00 to $142.00 and gave the stock a "buy" rating in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $140.00.

Duke Energy Company 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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