Duke Energy Corporation $DUK Shares Acquired by CIBC Asset Management Inc

Key Points

• CIBC Asset Management increased its Duke Energy stake by 23.7% in the fourth quarter, adding 72,955 shares to bring its total holdings to 380,636 shares valued at about $44.6 million.
• Several institutional investors also adjusted positions in Duke Energy, and overall institutional ownership remains high at 65.31% of the company’s stock.
• Duke Energy reported solid quarterly results, with EPS of $1.93 beating estimates and revenue of $9.18 billion topping forecasts; the company also declared a quarterly dividend of $1.065 per share, yielding about 3.5%.

CIBC Asset Management Inc grew its holdings in Duke Energy Corporation (NYSE:DUK - Free Report) by 23.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 380,636 shares of the utilities provider's stock after acquiring an additional 72,955 shares during the quarter. CIBC Asset Management Inc's holdings in Duke Energy were worth $44,612,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Mill Creek Capital Advisors LLC raised its position in Duke Energy by 4.6% during the third quarter. Mill Creek Capital Advisors LLC now owns 1,854 shares of the utilities provider's stock valued at $229,000 after acquiring an additional 82 shares in the last quarter. Elm Partners Management LLC raised its position in Duke Energy by 0.9% during the fourth quarter. Elm Partners Management LLC now owns 9,254 shares of the utilities provider's stock valued at $1,085,000 after acquiring an additional 83 shares in the last quarter. CYBER HORNET ETFs LLC raised its position in Duke Energy by 4.1% during the third quarter. CYBER HORNET ETFs LLC now owns 2,113 shares of the utilities provider's stock valued at $261,000 after acquiring an additional 83 shares in the last quarter. Legacy Wealth Managment LLC ID increased its position in shares of Duke Energy by 35.0% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 324 shares of the utilities provider's stock valued at $38,000 after buying an additional 84 shares in the last quarter. Finally, MidWestOne Financial Group Inc. increased its position in shares of Duke Energy by 1.1% in the third quarter. MidWestOne Financial Group Inc. now owns 7,858 shares of the utilities provider's stock valued at $972,000 after buying an additional 87 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company's stock.

Insider Activity

In other news, CEO Harry K. Sideris sold 20,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 96,102 shares of the company's stock, valued at approximately $11,952,205.74. This represents a 17.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Louis E. Renjel sold 3,500 shares of the company's stock in a transaction dated 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 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 SEC filing for this sale provides additional information. Corporate insiders own 0.12% of the company's stock.

Duke Energy News Summary

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

• Positive Sentiment: Duke Energy’s site readiness work helped attract a $1.2 billion advanced manufacturing project in Cherokee County, underscoring its role in supporting industrial development and future power demand. Duke Energy site readiness efforts help land 1.2 billion advanced manufacturing project in Cherokee County
• Positive Sentiment: A separate report highlighted Duke Energy’s efforts to control costs amid rising power demand from population growth and data centers, which could support long-term earnings if it manages load growth efficiently. Inside Duke Energy's plans to control costs amid surge in power demand from population growth, data centers

Duke Energy Price Performance

Shares of NYSE DUK opened at $121.12 on Thursday. The stock's 50-day moving average is $127.00 and its two-hundred day moving average is $123.99. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.66 and a quick ratio of 0.44. Duke Energy Corporation has a 1-year low of $113.66 and a 1-year high of $134.49. The company has a market cap of $94.43 billion, a price-to-earnings ratio of 18.55 and a beta of 0.39.

Duke Energy (NYSE:DUK - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.06. The business had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.44 billion. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The business's quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.76 EPS. Analysts forecast that Duke Energy Corporation will post 6.71 EPS for the current fiscal year.

Duke Energy Dividend Announcement

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

Analyst Ratings Changes

DUK has been the subject of a number of recent analyst reports. BMO Capital Markets cut their price objective on Duke Energy from $139.00 to $138.00 in a research report on Wednesday, May 6th. Wall Street Zen raised Duke Energy from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. Jefferies Financial Group lowered their price objective on Duke Energy from $143.00 to $138.00 in a research note on Monday, May 11th. Evercore boosted their price objective on Duke Energy from $139.00 to $140.00 in a research note on Monday, May 11th. Finally, Wells Fargo & Company lifted their target price on Duke Energy from $135.00 to $136.00 and gave the company an "equal weight" rating in a research report on Monday, April 20th. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.93.

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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