Capital Investment Counsel LLC Makes New $6.17 Million Investment in Duke Energy Corporation $DUK

Key Points

• Capital Investment Counsel LLC initiated a new position in Duke Energy during the first quarter, buying 47,089 shares valued at about $6.17 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 continues to support income investors with a quarterly dividend of $1.065, equal to a 3.3% yield, while analysts maintain a Moderate Buy consensus with a target price of $138.33.

Capital Investment Counsel LLC purchased a new stake in Duke Energy Corporation (NYSE:DUK - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 47,089 shares of the utilities provider's stock, valued at approximately $6,166,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Basso Capital Management L.P. purchased a new stake in shares of Duke Energy during the 4th quarter worth approximately $25,000. Dorato Capital Management acquired a new position in Duke Energy during the fourth quarter worth $26,000. Evolution Wealth Management Inc. boosted its position in Duke Energy by 1,111.1% during 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 in the last quarter. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Duke Energy in the third quarter valued at $27,000. Finally, Triumph Capital Management raised its stake in shares of Duke Energy by 68.6% during 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 currently owned by institutional investors and hedge funds.

Insider Activity

In other Duke Energy news, CEO Louis E. Renjel sold 3,500 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $125.15, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Harry K. Sideris sold 20,000 shares of the business'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 transaction, the chief executive officer directly owned 96,102 shares in the company, valued at approximately $11,952,205.74. The trade was a 17.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.12% of the company's stock.

Duke Energy Price Performance

Duke Energy stock opened at $128.28 on Tuesday. Duke Energy Corporation has a 52-week low of $113.89 and a 52-week high of $134.49. The firm has a fifty day moving average of $124.97 and a 200-day moving average of $124.48. The firm has a market capitalization of $100.00 billion, a P/E ratio of 19.64 and a beta of 0.39. 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 earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share 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 for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the business posted $1.76 EPS. The business's quarterly revenue was up 11.3% on a year-over-year basis. As a group, analysts predict that Duke Energy Corporation will post 6.71 EPS for the current year.

Duke Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th were given a $1.065 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.26 annualized dividend and a dividend yield of 3.3%. Duke Energy's dividend payout ratio is presently 65.24%.

Analyst Ratings Changes

DUK has been the subject of several recent research reports. Truist Financial dropped their target price on shares of Duke Energy from $142.00 to $137.00 and set a "buy" rating for the company in a report on Monday, May 18th. Capitol Sec Mgt downgraded Duke Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 10th. Morgan Stanley upped their target price on Duke Energy from $132.00 to $136.00 in a research note on Wednesday, June 24th. Jefferies Financial Group lowered their target price on Duke Energy from $143.00 to $138.00 in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. dropped their price target 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. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $138.33.

Key Duke Energy News

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

• Positive Sentiment: Duke Energy reached a settlement to terminate its North Carolina offshore wind lease and may redirect roughly $129 million into new generating capacity and grid modernization, including possible nuclear and natural gas investments, which investors may view as a better use of capital than a delayed wind project. Reuters: Duke Energy to terminate North Carolina offshore wind lease
• Positive Sentiment: A Zacks note highlighted Duke Energy’s $103 billion investment plan, pointing to grid upgrades, new generation, and rising power demand as drivers of multi-year earnings and dividend growth. Zacks: Can Duke Energy's Investment Plan Deliver Years of Earnings Growth?
• Positive Sentiment: Morgan Stanley reportedly raised its price target on Duke Energy, reinforcing a more bullish outlook from analysts. Yahoo Finance: Morgan Stanley Lifts Price Target on Duke Energy (DUK). Here is Why
• Neutral Sentiment: Duke Energy launched AI-powered Bill Insights and summer energy-saving tips for customers, a customer-service initiative that is unlikely to materially affect near-term earnings but could support utility usage management during peak demand. PR Newswire: New this summer: An easier way to understand your energy bill
• Neutral Sentiment: Severe weather and heat-wave headlines noted outages and conservation requests in Duke Energy’s service areas, but these appear to be near-term operational issues rather than a fundamental change in the company’s outlook. MSN: Over 1,000 Duke Energy customers without power in New Hanover County
• Negative Sentiment: Duke Energy trimmed its North Carolina rate-hike request from 18% to 11.6%, which may ease customer backlash but could also reduce upside from the company’s regulatory ask. MSN: Duke Energy cuts North Carolina rate hike request from 18% to 11.6%

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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