Gotham Asset Management LLC Grows Position in Duke Energy Corporation $DUK

Key Points

• Gotham Asset Management increased its Duke Energy stake by 148.4% in the fourth quarter, buying an additional 335,269 shares and bringing its total to 561,222 shares valued at about $65.8 million.
• Recent insider activity was notable, with CEO Louis E. Renjel and CEO Harry K. Sideris both selling shares in May, reducing their positions by 14.05% and 17.23%, respectively.
• Duke Energy reported solid quarterly results, beating earnings and revenue estimates, while maintaining a 3.4% dividend yield; however, the stock continues to face regulatory and pricing pressure headlines, including accusations of overcharging customers.

Gotham Asset Management LLC boosted its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 148.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 561,222 shares of the utilities provider's stock after purchasing an additional 335,269 shares during the period. Duke Energy comprises 0.2% of Gotham Asset Management LLC's investment portfolio, making the stock its 28th biggest position. Gotham Asset Management LLC owned approximately 0.07% of Duke Energy worth $65,781,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Basso Capital Management L.P. purchased a new position in Duke Energy in the 4th quarter valued at approximately $25,000. Dorato Capital Management purchased a new position in Duke Energy in the 4th quarter valued at approximately $26,000. Evolution Wealth Management Inc. increased its stake in Duke Energy by 1,111.1% in the 4th 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 in the last quarter. KERR FINANCIAL PLANNING Corp purchased a new position in Duke Energy in the 3rd quarter valued at approximately $27,000. Finally, Triumph Capital Management increased its stake in Duke Energy by 68.6% in the 4th quarter. Triumph Capital Management now owns 231 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 94 shares in the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Duke Energy

In other news, CEO Louis E. Renjel sold 3,500 shares of the firm's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $125.15, for a total transaction of $438,025.00. Following the sale, the chief executive officer owned 21,415 shares in the company, valued at $2,680,087.25. This trade represents a 14.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Harry K. Sideris sold 20,000 shares of the firm's 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 sale, the chief executive officer owned 96,102 shares in the company, valued at $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. 0.12% of the stock is owned by company insiders.

Key Headlines Impacting Duke Energy

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

• Positive Sentiment: Duke Energy restored power for more than 2,000 customers in the Pee Dee area, which may help limit near-term operational concerns after the outage. Duke Energy reports power restored after 2K+ were without it in the Pee Dee
• Positive Sentiment: Duke Energy Foundation granted $77,500 to Florida nonprofits for civic learning and remembrance initiatives, reinforcing its community engagement profile. Duke Energy Foundation grants $77,500 to expand access to civic learning and remembrance across Florida
• Neutral Sentiment: Duke Energy provided a safety demonstration for law enforcement, a routine outreach effort with limited direct financial impact. Duke Energy provides safety demonstration for law enforcement
• Neutral Sentiment: Clearwater is appraising Duke Energy property as it evaluates leaving the utility, which could eventually affect local load and revenue, but no immediate financial outcome was reported. Clearwater appraises Duke Energy property as it investigates ditching the utility
• Negative Sentiment: A state consumer advocate accused Duke Energy of overcharging customers, adding to regulatory and reputational pressure. State consumer advocate says Duke overcharging its customers
• Negative Sentiment: A pro-coal state regulator said he will not participate in Duke Energy carbon plan decisions, increasing uncertainty around the company’s long-term energy transition planning. Pro-coal state regulator won’t participate in Duke Energy Carbon Plan decisions
• Negative Sentiment: DUK also underperformed the broader market in the latest session, reinforcing the bearish tone after recent regulatory headlines. Duke Energy (DUK) Declines More Than Market: Some Information for Investors

Duke Energy Stock Performance

Duke Energy stock opened at $123.73 on Thursday. Duke Energy Corporation has a fifty-two week low of $113.89 and a fifty-two week high of $134.49. The stock has a fifty day moving average of $125.74 and a two-hundred day moving average of $124.06. 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 company has a market capitalization of $96.46 billion, a price-to-earnings ratio of 18.95 and a beta of 0.39.

Duke Energy (NYSE:DUK - Get Free Report) last posted 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. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The business had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.44 billion. During the same quarter last year, the firm earned $1.76 earnings per share. The business's revenue was up 11.3% on a year-over-year basis. On average, analysts anticipate 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 was paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th were issued a dividend of $1.065 per share. The ex-dividend date was Friday, May 15th. This represents a $4.26 annualized dividend and a dividend yield of 3.4%. Duke Energy's dividend payout ratio (DPR) is 65.24%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DUK. UBS Group dropped their price objective on Duke Energy from $137.00 to $135.00 in a research note on Monday, May 11th. Wall Street Zen raised Duke Energy from a "sell" rating to a "hold" rating in a research report on Saturday, March 28th. Wells Fargo & Company raised their price target on Duke Energy from $135.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Monday, April 20th. Truist Financial dropped their price target on Duke Energy from $142.00 to $137.00 and set a "buy" rating for the company in a research report on Monday, May 18th. Finally, BMO Capital Markets dropped their price target on Duke Energy from $139.00 to $138.00 in a research report on Wednesday, May 6th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $138.93.

About Duke Energy

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.

Want to see what other hedge funds are holding DUK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Duke Energy Corporation (NYSE:DUK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.