Duke Energy Corporation $DUK Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management significantly boosted its Duke Energy stake in Q1, increasing holdings by 183.6% to 894,066 shares worth about $117.1 million.
• Duke Energy reported better-than-expected quarterly results, with EPS of $1.93 versus $1.87 expected and revenue of $9.18 billion, up 11.3% year over year.
• The company declared a quarterly dividend of $1.065 per share, putting the annualized payout at $4.26 and the yield at about 3.4%.

Assenagon Asset Management S.A. grew its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 183.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 894,066 shares of the utilities provider's stock after buying an additional 578,843 shares during the period. Assenagon Asset Management S.A. owned 0.11% of Duke Energy worth $117,069,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Duke Energy by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider's stock valued at $9,172,709,000 after purchasing an additional 1,957,592 shares during the last quarter. Amundi raised its position in Duke Energy by 56.9% during the 4th quarter. Amundi now owns 2,662,460 shares of the utilities provider's stock worth $312,067,000 after buying an additional 965,808 shares during the last quarter. Franklin Resources Inc. raised its position in Duke Energy by 13.1% during the 4th quarter. Franklin Resources Inc. now owns 8,236,893 shares of the utilities provider's stock worth $965,446,000 after buying an additional 954,907 shares during the last quarter. Milford Funds Ltd. acquired a new stake in Duke Energy during the 4th quarter valued at approximately $97,905,000. Finally, Cohen & Steers Inc. boosted its holdings in shares of Duke Energy by 83.3% in the 4th quarter. Cohen & Steers Inc. now owns 1,711,445 shares of the utilities provider's stock valued at $200,598,000 after acquiring an additional 777,878 shares during the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Stock Up 1.0%

DUK stock opened at $126.33 on Thursday. Duke Energy Corporation has a one year low of $113.89 and a one year high of $134.49. 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 firm's fifty day moving average is $125.03 and its 200 day moving average is $124.22. The firm has a market cap of $98.49 billion, a PE ratio of 19.35 and a beta of 0.39.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, topping 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 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 posted $1.76 earnings per share. The company's revenue was up 11.3% compared to the same quarter last year. On average, research analysts forecast that Duke Energy Corporation will post 6.71 EPS for the current year.

Duke Energy Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Duke Energy from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Duke Energy in a report on Monday, May 4th. UBS Group cut their price target on Duke Energy from $137.00 to $135.00 in a research report on Monday, May 11th. 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 note on Wednesday, May 13th. Finally, Barclays lowered their target price on Duke Energy from $143.00 to $134.00 and set an "overweight" rating on the stock in a research note on Thursday, June 18th. Nine analysts have rated the stock with a Buy rating and eight have given 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 an average price target of $138.33.

Insider Buying and Selling

In other Duke Energy news, CEO Louis E. Renjel sold 3,500 shares of the firm's stock in a transaction that occurred 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 directly owned 21,415 shares of the company's stock, valued at approximately $2,680,087.25. This trade represents a 14.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Harry K. Sideris sold 20,000 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $11,952,205.74. This trade represents a 17.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.12% of the company's stock.

Duke Energy News Roundup

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

• Positive Sentiment: Morgan Stanley raised its price target on Duke Energy to $136 from $132, signaling about 8.7% upside from recent trading levels and reinforcing a constructive view on the utility. Morgan Stanley adjusts price target on Duke Energy to 136 from 132, maintains Equal Weight rating
• Positive Sentiment: Two articles highlighted Duke Energy as one of the better S&P 500 dividend stocks, pointing to its 3.41% annual dividend yield and defensive utility profile, which may appeal to income-focused investors. Is Duke Energy (DUK) One of the Best S&P 500 Stocks to Buy for Dividends?
• Positive Sentiment: Duke Energy Foundation announced more than $550,000 in America250 grants in South Carolina and North Carolina, a modest positive for sentiment and brand image but not a major financial driver. Duke Energy Foundation completes more than $550,000 in grants

Duke Energy 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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