Geode Capital Management LLC Raises Stock Holdings in Duke Energy Corporation $DUK

Key Points

• Geode Capital Management increased its Duke Energy stake by 1.2% in the fourth quarter, ending with about 19.3 million shares valued at roughly $2.27 billion. Institutional investors now own about 65.31% of the utility.
• Analyst sentiment remains mixed but constructive: Duke Energy has a Moderate Buy consensus rating, with an average price target of $139.07. Recent target changes included cuts from Morgan Stanley and Jefferies, while Mizuho and Goldman Sachs remained upbeat.
• The company reported better-than-expected quarterly results and reaffirmed shareholder returns with a quarterly dividend of $1.065 per share, implying a 3.4% yield. However, recent insider sales by the CEO and ongoing regulatory scrutiny on rate hikes may weigh on sentiment.

Geode Capital Management LLC raised its stake in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 1.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 19,292,633 shares of the utilities provider's stock after acquiring an additional 230,375 shares during the period. Geode Capital Management LLC owned approximately 2.48% of Duke Energy worth $2,266,675,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Dorato Capital Management bought a new stake in shares of Duke Energy in the fourth quarter worth approximately $26,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Duke Energy in the third quarter worth approximately $27,000. Lodestone Wealth Management LLC bought a new stake in shares of Duke Energy in the fourth quarter worth approximately $30,000. Wiser Advisor Group LLC bought a new stake in shares of Duke Energy in the third quarter worth approximately $34,000. Finally, Cornerstone Planning Group LLC grew its stake in shares of Duke Energy by 13,750.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 277 shares of the utilities provider's stock worth $33,000 after acquiring an additional 275 shares during the period. 65.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DUK has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target on shares of Duke Energy from $141.00 to $132.00 in a research note on Thursday, May 21st. Mizuho lifted their price target on shares of Duke Energy from $130.00 to $139.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 6th. The Goldman Sachs Group lifted their price target on shares of Duke Energy from $141.00 to $142.00 and gave the stock a "buy" rating in a research note on Wednesday, February 11th. Jefferies Financial Group reduced their price target on shares of Duke Energy from $143.00 to $138.00 in a research note on Monday, May 11th. Finally, BTIG Research reiterated a "buy" rating and issued a $141.00 price target on shares of Duke Energy in a research note on Friday, January 30th. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $139.07.

Insider Activity at Duke Energy

In other Duke Energy news, CEO Louis E. Renjel sold 3,500 shares of the company's 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 transaction, the chief executive officer directly owned 21,415 shares in the company, valued at $2,680,087.25. This represents a 14.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Harry K. Sideris sold 20,000 shares of the company's stock in a transaction that occurred on 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 owned 96,102 shares of the company's stock, valued at approximately $11,952,205.74. The trade was a 17.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.12% of the company's stock.

Key Duke Energy News

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

• Positive Sentiment: Duke Energy was named among the utilities to watch as wind energy adoption and broader clean-power demand continue to rise, which could support long-term load growth and investment opportunities. Top Wind Energy Stocks to Watch Amid Increased Adoption of Clean Energy
• Positive Sentiment: The Duke Energy Foundation announced $500,000 in grants to improve hurricane preparedness in North Carolina, reinforcing its focus on storm readiness and community resilience ahead of hurricane season. Ahead of hurricane season, Duke Energy Foundation awards $500,000 to strengthen storm preparedness across North Carolina
• Positive Sentiment: South Carolina regulators approved Duke Energy’s new nonresidential demand response program, which lets customers earn bill credits while helping the utility manage peak demand and improve grid reliability. New Duke Energy program helps South Carolina nonresidential customers lower costs while supporting a growing grid
• Neutral Sentiment: Several articles note that investors are closely watching Duke Energy’s shares, but they do not point to a major new fundamental catalyst by themselves. Duke Energy Corporation (DUK) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Morgan Stanley cut its price target on Duke Energy to $132 from $141 while keeping an Equal Weight rating, which may temper sentiment but does not indicate a bearish call. Morgan Stanley Revises Duke Energy (DUK) Valuation Following Utility Sector Update
• Negative Sentiment: News that the Supreme Court affirmed Duke Energy’s rate hikes may keep regulatory risk in focus, since approved increases can still draw political and customer scrutiny. Duke Energy rate hikes affirmed by Supreme Court

Duke Energy Stock Performance

Shares of NYSE DUK opened at $123.70 on Friday. The firm has a 50 day moving average of $127.61 and a 200 day moving average of $124.05. 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 firm has a market capitalization of $96.43 billion, a price-to-earnings ratio of 18.94 and a beta of 0.41. Duke Energy Corporation has a 12-month low of $113.39 and a 12-month high of $134.49.

Duke Energy (NYSE:DUK - Get Free Report) last announced its earnings results 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. The company had revenue of $9.18 billion during 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 firm's quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.76 earnings per share. On average, research analysts anticipate that Duke Energy Corporation will post 6.71 earnings per share for the current year.

Duke Energy Dividend Announcement

The firm also recently announced 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. This represents a $4.26 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, May 15th. Duke Energy's payout ratio is 65.24%.

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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