Duke Energy Corporation $DUK Shares Bought by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its Duke Energy stake by 87.4% in the first quarter, bringing its holdings to 183,947 shares valued at about $24.1 million.
• Duke Energy reported stronger-than-expected quarterly results, with earnings of $1.93 per share and revenue of $9.18 billion, both topping analyst estimates.
• The company also raised its quarterly dividend to $1.085 per share, implying an annualized payout of $4.34 and a 3.5% yield, though regulatory uncertainty remains around North Carolina rate settlements.

First Citizens Bank & Trust Co. lifted its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 87.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 183,947 shares of the utilities provider's stock after purchasing an additional 85,785 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Duke Energy were worth $24,086,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in DUK. Basso Capital Management L.P. purchased a new position in shares of Duke Energy during the 4th quarter worth $25,000. Dorato Capital Management purchased a new stake in shares of Duke Energy in the fourth quarter valued at about $26,000. Evolution Wealth Management Inc. grew its holdings in shares of Duke Energy by 1,111.1% in the fourth quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 200 shares during the period. Triumph Capital Management increased its position in Duke Energy by 68.6% during the fourth quarter. Triumph Capital Management now owns 231 shares of the utilities provider's stock worth $27,000 after purchasing an additional 94 shares during the last quarter. Finally, Cornerstone Financial Management LLC purchased a new position in Duke Energy during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 65.31% of the company's stock.

Duke Energy Price Performance

DUK stock opened at $125.77 on Wednesday. The business's 50-day moving average is $124.92 and its two-hundred day moving average is $125.59. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.66 and a quick ratio of 0.44. The firm has a market capitalization of $98.05 billion, a P/E ratio of 19.26, a P/E/G ratio of 2.77 and a beta of 0.38. Duke Energy Corporation has a 1 year low of $113.89 and a 1 year high of $134.49.

Duke Energy (NYSE:DUK - Get Free Report) last released its earnings results 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. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. 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 earned $1.76 earnings per share. Analysts anticipate that Duke Energy Corporation will post 6.72 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th will be given a $1.085 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $4.34 dividend on an annualized basis and a dividend yield of 3.5%. This is a boost from Duke Energy's previous quarterly dividend of $1.06. Duke Energy's payout ratio is currently 66.46%.

Insiders Place Their Bets

In related news, CEO Harry K. Sideris sold 20,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $124.37, for a total value of $2,487,400.00. Following the transaction, the chief executive officer owned 96,102 shares of the company's stock, valued at $11,952,205.74. This represents a 17.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Louis E. Renjel sold 3,500 shares of the firm's stock in a transaction 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 in the company, valued at approximately $2,680,087.25. This represents a 14.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Capitol Sec Mgt cut shares of Duke Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 10th. Evercore lifted their price target on shares of Duke Energy from $139.00 to $140.00 in a research report on Monday, May 11th. Wall Street Zen upgraded Duke Energy from a "sell" rating to a "hold" rating in a report on Saturday, March 28th. Truist Financial raised their target price on Duke Energy from $137.00 to $138.00 and gave the stock a "buy" rating in a research note on Friday, July 17th. Finally, BTIG Research restated a "buy" rating and issued a $139.00 target price on shares of Duke Energy in a research report on Tuesday, June 2nd. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $138.47.

Key Stories Impacting Duke Energy

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

• Positive Sentiment: Duke Energy announced or was highlighted alongside a dividend increase, reinforcing its appeal as a reliable income stock and supporting the case for long-term utility earnings growth tied to data center demand. Industrial and Utility Giants Boost Dividends as Data Center Tailwinds Build (DUK)
• Positive Sentiment: The company reached a North Carolina rate settlement that cuts the proposed increase by more than half, which could reduce regulatory friction and improve the odds of eventual approval versus the original request. Duke Energy reaches deal to cut North Carolina rate hike by over half
• Neutral Sentiment: Analysts remain constructive overall, but BMO Capital Markets trimmed its price target to $134 from $138 while keeping an outperform rating, suggesting modest upside despite a slightly softer near-term valuation view. Benzinga report on BMO price target cut
• Neutral Sentiment: Industry commentary continues to point to long-term utility tailwinds from grid investment and rising power demand, especially from data centers, which supports the broader investment case for Duke Energy. Zacks Industry Outlook Highlights NextEra Energy, Duke Energy, American Electric Power and Ameren
• Negative Sentiment: North Carolina’s attorney general rejected the settlement and said even the reduced rate increase is still too high, raising the risk of more pushback and potentially slowing or complicating Duke’s ability to pass through higher costs to customers. NC AG rejects Duke Energy rate settlement; residential bills could rise 9.5%

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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