Harbour Investments Inc. Has $6.92 Million Stock Position in Duke Energy Corporation $DUK

Key Points

• Harbour Investments Inc. increased its Duke Energy stake by 185.1% in the fourth quarter, ending with 59,067 shares valued at about $6.92 million.
• Duke Energy posted a strong quarter, with EPS of $1.93 and revenue of $9.18 billion, both topping analyst expectations; revenue also rose 11.3% from a year earlier.
• The company declared a quarterly dividend of $1.065 per share (annualized yield of 3.4%), while analysts currently have a Moderate Buy consensus with an average price target of $139.07.

Harbour Investments Inc. boosted its stake in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 185.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,067 shares of the utilities provider's stock after purchasing an additional 38,352 shares during the quarter. Harbour Investments Inc.'s holdings in Duke Energy were worth $6,923,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Duke Energy by 2.6% during the 4th 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 stake in shares of Duke Energy during the third quarter worth $86,309,000. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Duke Energy by 447.3% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 513,905 shares of the utilities provider's stock valued at $60,235,000 after purchasing an additional 420,005 shares in the last quarter. Caisse de depot et placement du Quebec raised its stake in 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 buying an additional 419,992 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings 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 valued at $59,376,000 after purchasing an additional 323,991 shares in the last quarter. 65.31% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Louis E. Renjel sold 3,500 shares of the company'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 of the company's stock, valued at approximately $2,680,087.25. This represents a 14.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Harry K. Sideris sold 20,000 shares of the business's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $124.37, for a total value 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. The disclosure for this sale is available in the SEC filing. Insiders own 0.12% of the company's stock.

Duke Energy Price Performance

DUK stock opened at $125.08 on Wednesday. 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 $97.51 billion, a P/E ratio of 19.15 and a beta of 0.41. The business has a 50-day simple moving average of $127.96 and a two-hundred day simple moving average of $124.05. Duke Energy Corporation has a 52-week low of $113.39 and a 52-week 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 firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.44 billion. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The business's revenue was up 11.3% compared to the same quarter last year. During the same period last year, the firm posted $1.76 EPS. Research analysts expect 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. Shareholders of record on Friday, May 15th will be given a dividend of $1.065 per share. The ex-dividend date is Friday, May 15th. This represents a $4.26 dividend on an annualized basis and a yield of 3.4%. Duke Energy's dividend payout ratio (DPR) is presently 65.24%.

Analysts Set New Price Targets

DUK has been the topic of a number of research reports. Mizuho boosted their price objective on shares of Duke Energy from $130.00 to $139.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Truist Financial lowered their price target on shares of Duke Energy from $142.00 to $137.00 and set a "buy" rating on the stock in a report on Monday, May 18th. Morgan Stanley reduced their target price on shares of Duke Energy from $141.00 to $132.00 in a research report on Thursday, May 21st. JPMorgan Chase & Co. cut their target price on 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, Wells Fargo & Company raised their target price on Duke Energy from $135.00 to $136.00 and gave the company an "equal weight" rating in a report on Monday, April 20th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $139.07.

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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