Duke Energy Corporation $DUK Shares Bought by AlphaQuest LLC

Key Points

• AlphaQuest LLC increased its Duke Energy stake by 327.8% in the fourth quarter, buying 29,919 additional shares and bringing its total holdings to 39,046 shares worth about $4.6 million.
• Duke Energy reported better-than-expected quarterly results, with EPS of $1.93 versus $1.87 expected and revenue of $9.18 billion versus $8.44 billion expected; revenue rose 11.3% year over year.
• The company declared a quarterly dividend of $1.065 per share, or $4.26 annualized, implying a 3.4% yield. Meanwhile, analysts currently rate the stock a consensus Moderate Buy with an average price target of $139.07.

AlphaQuest LLC boosted its holdings in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 327.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,046 shares of the utilities provider's stock after purchasing an additional 29,919 shares during the period. Duke Energy comprises approximately 0.3% of AlphaQuest LLC's investment portfolio, making the stock its 14th biggest holding. AlphaQuest LLC's holdings in Duke Energy were worth $4,577,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of 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 acquiring an additional 1,957,592 shares during the period. ANTIPODES PARTNERS Ltd acquired a new position in shares of Duke Energy during the 3rd quarter worth about $86,309,000. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of Duke Energy by 447.3% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 513,905 shares of the utilities provider's stock worth $60,235,000 after purchasing an additional 420,005 shares during the last quarter. Caisse de depot et placement du Quebec raised its position in shares of Duke Energy by 19.1% during the 3rd 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 last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Duke Energy by 178.1% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 505,891 shares of the utilities provider's stock worth $59,376,000 after purchasing an additional 323,991 shares during the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Stock Up 0.1%

Shares of NYSE DUK opened at $125.78 on Tuesday. Duke Energy Corporation has a 12-month low of $113.39 and a 12-month high of $134.49. The stock has a market cap of $98.06 billion, a PE ratio of 19.26 and a beta of 0.41. 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 company has a 50-day moving average of $128.12 and a 200 day moving average of $124.04.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.93 earnings per share (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 company had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.44 billion. During the same quarter in the prior year, the company earned $1.76 EPS. Duke Energy's revenue was up 11.3% compared to the same quarter last year. As a group, sell-side analysts predict that Duke Energy Corporation will post 6.71 EPS for the current fiscal year.

Duke Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th will be paid a $1.065 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $4.26 annualized dividend and a dividend yield of 3.4%. Duke Energy's dividend payout ratio is 65.24%.

Analysts Set New Price Targets

DUK has been the subject of several research analyst reports. Truist Financial reduced their price target on shares of Duke Energy from $142.00 to $137.00 and set a "buy" rating for the company in a research report on Monday, May 18th. Evercore upped their price target on shares of Duke Energy from $139.00 to $140.00 in a research report on Monday, May 11th. BMO Capital Markets reduced their price target on shares of Duke Energy from $139.00 to $138.00 in a research report on Wednesday, May 6th. JPMorgan Chase & Co. reduced their price target on shares of Duke Energy from $139.00 to $136.00 and set a "neutral" rating for the company in a research report on Wednesday, May 13th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Duke Energy in a research report on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Duke Energy presently has a consensus rating of "Moderate Buy" and an average price target of $139.07.

Insider Activity at Duke Energy

In other 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 represents a 14.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 completion of the sale, the chief executive officer directly owned 96,102 shares of the company's stock, valued at approximately $11,952,205.74. This trade represents a 17.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.12% of the company's stock.

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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