Dougherty & Associates LLC Purchases New Position in Duke Energy Corporation $DUK

Key Points

• Dougherty & Associates LLC opened a new position in Duke Energy during the fourth quarter, buying 18,685 shares valued at about $2.19 million. The stake now represents roughly 2.0% of the firm’s holdings and its 16th-largest position.
• Institutional ownership remains high, with hedge funds and other investors holding about 65.31% of Duke Energy shares. Several large firms, including Vanguard and Northern Trust, also increased their positions.
• Duke Energy reported better-than-expected quarterly results, posting EPS of $1.93 versus estimates of $1.87 and revenue of $9.18 billion versus expectations of $8.44 billion. The company also announced a quarterly dividend of $1.065 per share, implying an annual yield of about 3.5%.

Dougherty & Associates LLC purchased a new stake in shares of Duke Energy Corporation (NYSE:DUK - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 18,685 shares of the utilities provider's stock, valued at approximately $2,190,000. Duke Energy accounts for approximately 2.0% of Dougherty & Associates LLC's holdings, making the stock its 16th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Duke Energy by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider's stock worth $9,172,709,000 after purchasing an additional 1,957,592 shares during the period. Northern Trust Corp grew its holdings in Duke Energy by 0.4% in the third quarter. Northern Trust Corp now owns 7,758,700 shares of the utilities provider's stock worth $960,139,000 after purchasing an additional 31,703 shares during the period. Franklin Resources Inc. grew its holdings in Duke Energy by 4.1% in the third quarter. Franklin Resources Inc. now owns 7,281,986 shares of the utilities provider's stock worth $901,146,000 after purchasing an additional 288,499 shares during the period. Capital Research Global Investors grew its holdings in Duke Energy by 0.3% in the third quarter. Capital Research Global Investors now owns 5,033,225 shares of the utilities provider's stock worth $622,862,000 after purchasing an additional 12,758 shares during the period. Finally, Caisse de depot et placement du Quebec grew its holdings in Duke Energy by 19.1% in the third quarter. Caisse de depot et placement du Quebec now owns 2,613,595 shares of the utilities provider's stock worth $323,432,000 after purchasing an additional 419,992 shares during the period. Hedge funds and other institutional investors own 65.31% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. UBS Group cut their price objective on shares of Duke Energy from $137.00 to $135.00 in a report on Monday, May 11th. Wells Fargo & Company upped their price objective on shares of Duke Energy from $135.00 to $136.00 and gave the stock an "equal weight" rating in a report on Monday, April 20th. Wall Street Zen upgraded shares of Duke Energy from a "sell" rating to a "hold" rating in a report on Saturday, March 28th. Royal Bank Of Canada cut their price objective on shares of Duke Energy from $143.00 to $140.00 and set a "sector perform" rating on the stock in a report on Friday, January 23rd. Finally, Jefferies Financial Group cut their price target on shares of Duke Energy from $143.00 to $138.00 in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Duke Energy presently has an average rating of "Moderate Buy" and a consensus price target of $140.00.

Duke Energy News Summary

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

Insider Activity at Duke Energy

In related news, CEO Harry K. Sideris sold 20,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 96,102 shares in the company, valued at $11,952,205.74. This represents a 17.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Regis T. Repko sold 962 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $127.86, for a total transaction of $123,001.32. Following the transaction, the senior vice president owned 3,896 shares in the company, valued at approximately $498,142.56. This trade represents a 19.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,462 shares of company stock worth $3,048,426 over the last quarter. Company insiders own 0.12% of the company's stock.

Duke Energy Trading Up 0.0%

NYSE:DUK opened at $120.98 on Monday. The company's 50 day moving average price is $128.90 and its 200-day moving average price is $124.03. Duke Energy Corporation has a 52 week low of $113.39 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. The stock has a market cap of $94.31 billion, a price-to-earnings ratio of 18.53 and a beta of 0.41.

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

Duke Energy Announces Dividend

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

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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