BI Asset Management Fondsmaeglerselskab A S Acquires 44,592 Shares of Duke Energy Corporation $DUK

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its Duke Energy stake by 92.4% in the first quarter, buying 44,592 additional shares and bringing its total holdings to 92,861 shares worth about $12.16 million.
• Duke Energy reported better-than-expected quarterly results, with EPS of $1.93 versus the $1.87 consensus and revenue of $9.18 billion, up 11.3% year over year. Analysts still see the company as a Moderate Buy with a consensus price target of $138.07.
• The company continues to appeal to income investors, declaring a quarterly dividend of $1.065 per share for a 3.4% annualized yield. However, recent insider sales by CEO Louis E. Renjel and CEO Harry K. Sideris, plus some analyst price-target trims, add a note of caution.

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Duke Energy Corporation (NYSE:DUK - Free Report) by 92.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,861 shares of the utilities provider's stock after purchasing an additional 44,592 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Duke Energy were worth $12,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of DUK. Basso Capital Management L.P. bought a new stake in Duke Energy in the 4th quarter worth approximately $25,000. Dorato Capital Management bought a new position in shares of Duke Energy during the 4th quarter valued at $26,000. Evolution Wealth Management Inc. lifted its holdings in shares of Duke Energy by 1,111.1% during the 4th 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 period. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Duke Energy in the 3rd quarter worth $27,000. Finally, Triumph Capital Management boosted its stake in shares of Duke Energy by 68.6% in the 4th quarter. Triumph Capital Management now owns 231 shares of the utilities provider's stock worth $27,000 after buying an additional 94 shares during the last quarter. 65.31% of the stock is owned by institutional investors.

Duke Energy Stock Down 0.0%

Shares of NYSE:DUK opened at $123.84 on Monday. The business's 50 day moving average is $125.43 and its 200 day moving average is $124.08. The stock has a market cap of $96.55 billion, a P/E ratio of 18.97 and a beta of 0.39. Duke Energy Corporation has a 52-week low of $113.89 and a 52-week high of $134.49. The company has a quick ratio of 0.44, a current ratio of 0.66 and a debt-to-equity ratio of 1.45.

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 analysts' consensus estimates of $1.87 by $0.06. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the prior year, the company earned $1.76 EPS. The business's revenue was up 11.3% compared to the same quarter last year. Sell-side analysts predict that Duke Energy Corporation will post 6.71 EPS for the current year.

Duke Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th were issued a $1.065 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. Duke Energy's dividend payout ratio (DPR) is currently 65.24%.

Analyst Ratings Changes

A number of research firms recently commented on DUK. JPMorgan Chase & Co. reduced their price objective on Duke Energy from $139.00 to $136.00 and set a "neutral" rating for the company in a research report on Wednesday, May 13th. BMO Capital Markets cut their price target on Duke Energy from $139.00 to $138.00 in a research note on Wednesday, May 6th. Wells Fargo & Company upped their price target on shares of Duke Energy from $135.00 to $136.00 and gave the company an "equal weight" rating in a research report on Monday, April 20th. Truist Financial lowered their price objective on shares of Duke Energy from $142.00 to $137.00 and set a "buy" rating on the stock in a research note on Monday, May 18th. Finally, Jefferies Financial Group cut their target price on shares of Duke Energy from $143.00 to $138.00 in a research report on Monday, May 11th. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Duke Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.07.

Insiders Place Their Bets

In other Duke Energy news, 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 value of $438,025.00. Following the transaction, the chief executive officer owned 21,415 shares in the company, valued at $2,680,087.25. The trade was a 14.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Harry K. Sideris sold 20,000 shares of the 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 sale, the chief executive officer directly owned 96,102 shares of the company's stock, valued at approximately $11,952,205.74. The trade was a 17.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.12% of the company's stock.

More Duke Energy News

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

• Positive Sentiment: Duke Energy is being highlighted as one of the large-cap dividend stocks that retirees are quietly buying, reinforcing its appeal as a steady income name for investors looking for yield and defensive cash flow. 3 Stocks Retirees Are Quietly Loading Up on in June
• Positive Sentiment: Another article also grouped Duke Energy with other utility stocks viewed as sources of passive income, which may support investor interest in the stock’s defensive dividend profile. 3 Utility Stocks For Years of Passive Income
• Positive Sentiment: Mizuho lowered its price target on Duke Energy only modestly to $135 from $139 while keeping an outperform rating, suggesting analysts still see upside from current levels. Mizuho PT Lowered to $135 at Mizuho
• Neutral Sentiment: Duke Energy Florida issued a customer energy-use reminder ahead of summer, which is routine utility communications and not likely to materially move the stock. Summer starts June 21: Duke Energy Florida highlights five key appliances to help customers manage energy use
• Neutral Sentiment: Several local outage reports and safety demonstrations are operational headlines that reflect day-to-day utility issues rather than a major change in Duke Energy’s earnings outlook. Duke Energy: Hundreds of customers without power in Greenville County
• Negative Sentiment: Coverage about a regulator sitting out Duke Energy carbon plan decisions and a separate story about a city examining whether to leave the utility add a bit of regulatory and political uncertainty. Pro-coal state regulator won’t participate in Duke Energy Carbon Plan decisions
• Negative Sentiment: Recent trading commentary noted that Duke Energy has been declining more than the broader market, indicating some near-term pressure on shares. Duke Energy (DUK) Declines More Than Market: Some Information for Investors

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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