Bruce & Co. Inc. Lowers Stock Position in Duke Energy Corporation $DUK

Bruce & Co. Inc. reduced its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 145,816 shares of the utilities provider's stock after selling 10,000 shares during the period. Duke Energy makes up approximately 5.5% of Bruce & Co. Inc.'s investment portfolio, making the stock its 7th biggest position. Bruce & Co. Inc.'s holdings in Duke Energy were worth $19,093,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Basso Capital Management L.P. bought a new stake in shares of Duke Energy during the 4th quarter valued at $25,000. Dorato Capital Management bought a new position in shares of Duke Energy in the fourth quarter worth $26,000. Evolution Wealth Management Inc. increased 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 worth $26,000 after purchasing an additional 200 shares during the period. Triumph Capital Management raised its stake in 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 purchasing an additional 94 shares in the last quarter. Finally, Cornerstone Financial Management LLC bought a new stake in Duke Energy during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 65.31% of the company's stock.

More Duke Energy News

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

• Positive Sentiment: Duke Energy said data center growth should create billions of dollars in long-term customer savings and support responsible system expansion, reinforcing a constructive demand outlook for the utility. Duke Energy: Data center growth will deliver billions of dollars of customer savings
• Positive Sentiment: Duke Energy received its first advanced gas turbine, which should help it generate electricity more efficiently and support reliability and future capacity needs. Duke Energy receives first advanced gas turbine to generate electricity more efficiently
• Neutral Sentiment: Florida officials are moving toward extending Duke Energy’s service territory for decades, which may improve long-term visibility but does not appear to be an immediate earnings catalyst. As electric bills rise, Florida officials move toward 30 more years with Duke Energy
• Neutral Sentiment: A local outage in east Durham affected more than 2,000 customers during heavy rain, highlighting operational disruptions but likely having limited financial impact. More than 2,000 without power in east Durham amid heavy rain: Duke Energy
• Negative Sentiment: North Carolina’s attorney general said Duke Energy’s reduced rate increase is still too high, keeping regulatory pressure on the company’s pricing plans. NC attorney general says Duke Energy's lowered rate increase is still too high
• Negative Sentiment: Reports of a stakeholder agreement cutting the residential rate increase to 9.5% suggest Duke may get less pricing relief than it initially sought. Duke Energy-stakeholder agreement pares down residential rate increase to 9.5% for 2 years

Analyst Ratings Changes

DUK has been the subject of several analyst reports. Barclays dropped their target price on shares of Duke Energy from $143.00 to $134.00 and set an "overweight" rating for the company in a research report on Thursday, June 18th. BMO Capital Markets decreased their price objective on shares of Duke Energy from $138.00 to $134.00 and set an "outperform" rating on the stock in a research note on Monday. UBS Group lowered their price objective on shares of Duke Energy from $137.00 to $135.00 in a research report on Monday, May 11th. Morgan Stanley set a $138.00 target price on Duke Energy in a report on Wednesday. Finally, Wells Fargo & Company lifted their price target on Duke Energy from $135.00 to $136.00 and gave the company an "equal weight" rating in a research note on Monday, April 20th. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $138.62.

Insider Buying and Selling at Duke Energy

In related news, CEO Harry K. Sideris sold 20,000 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the sale, the chief executive officer owned 96,102 shares of the company's stock, valued at $11,952,205.74. This trade represents a 17.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Louis E. Renjel sold 3,500 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $125.15, for a total value of $438,025.00. Following the sale, the chief executive officer owned 21,415 shares in the company, valued at $2,680,087.25. This represents a 14.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.12% of the company's stock.

Duke Energy Trading Up 1.1%

Shares of Duke Energy stock opened at $129.29 on Friday. The firm has a market capitalization of $100.80 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 2.82 and a beta of 0.38. 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's 50 day moving average is $125.11 and its 200 day moving average is $125.75. Duke Energy Corporation has a 1 year low of $113.89 and a 1 year high of $134.49.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, beating the consensus estimate of $1.87 by $0.06. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the prior year, the firm earned $1.76 EPS. The firm's revenue was up 11.3% compared to the same quarter last year. Equities research analysts forecast that Duke Energy Corporation will post 6.72 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Friday, August 14th will be paid a $1.085 dividend. This represents a $4.34 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Friday, August 14th. This is a positive change from Duke Energy's previous quarterly dividend of $1.06. Duke Energy's dividend payout ratio is currently 65.24%.

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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