Hsbc Holdings PLC Acquires 242,477 Shares of Duke Energy Corporation $DUK

Key Points

• HSBC Holdings PLC increased its Duke Energy stake by 17.0% in the fourth quarter, buying 242,477 additional shares and bringing its total holding to 1,669,324 shares valued at about $195.7 million.
• Duke Energy’s latest earnings topped expectations, with quarterly EPS of $1.93 versus estimates of $1.87 and revenue of $9.18 billion, helped by 11.3% year-over-year revenue growth.
• The company continues to offer a solid dividend profile, paying a quarterly dividend of $1.065 per share for a 3.4% annualized yield, while analysts currently rate the stock a “Moderate Buy” with an average price target of $138.07.

Hsbc Holdings PLC boosted its stake in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 17.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,669,324 shares of the utilities provider's stock after buying an additional 242,477 shares during the period. Hsbc Holdings PLC owned 0.21% of Duke Energy worth $195,725,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bayban purchased a new stake in shares of Duke Energy during the 4th quarter worth $517,000. SHP Wealth Management bought a new position in Duke Energy in the fourth quarter worth about $247,000. S Harris Financial Group LLC purchased a new stake in shares of Duke Energy during the fourth quarter valued at about $207,000. CFO Capital Management LLC bought a new stake in shares of Duke Energy in the 4th quarter valued at about $685,000. Finally, Clearwave Capital LLC bought a new stake in shares of Duke Energy in the 4th quarter valued at about $303,000. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Stock Performance

Shares of NYSE DUK opened at $123.84 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. Duke Energy Corporation has a 12 month low of $113.89 and a 12 month high of $134.49. The company has a 50 day simple moving average of $125.43 and a two-hundred day simple moving average of $124.06. The stock has a market cap of $96.55 billion, a price-to-earnings ratio of 18.97 and a beta of 0.39.

Duke Energy (NYSE:DUK - Get Free Report) last released its quarterly earnings data 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. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the prior year, the business earned $1.76 earnings per share. The business's quarterly revenue was up 11.3% compared to the same quarter last year. As a group, analysts predict that Duke Energy Corporation will post 6.71 earnings per share for the current year.

Duke Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th were 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 of this dividend was Friday, May 15th. Duke Energy's dividend payout ratio (DPR) is currently 65.24%.

Key Headlines Impacting Duke Energy

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

• Positive Sentiment: Duke Energy is being highlighted as one of the large-cap dividend stocks that retirees are quietly buying, reinforcing its appeal as a steady income name for investors looking for yield and defensive cash flow. 3 Stocks Retirees Are Quietly Loading Up on in June
• Positive Sentiment: Another article also grouped Duke Energy with other utility stocks viewed as sources of passive income, which may support investor interest in the stock’s defensive dividend profile. 3 Utility Stocks For Years of Passive Income
• Positive Sentiment: Mizuho lowered its price target on Duke Energy only modestly to $135 from $139 while keeping an outperform rating, suggesting analysts still see upside from current levels. Mizuho PT Lowered to $135 at Mizuho
• Neutral Sentiment: Duke Energy Florida issued a customer energy-use reminder ahead of summer, which is routine utility communications and not likely to materially move the stock. Summer starts June 21: Duke Energy Florida highlights five key appliances to help customers manage energy use
• Neutral Sentiment: Several local outage reports and safety demonstrations are operational headlines that reflect day-to-day utility issues rather than a major change in Duke Energy’s earnings outlook. Duke Energy: Hundreds of customers without power in Greenville County
• Negative Sentiment: Coverage about a regulator sitting out Duke Energy carbon plan decisions and a separate story about a city examining whether to leave the utility add a bit of regulatory and political uncertainty. Pro-coal state regulator won’t participate in Duke Energy Carbon Plan decisions
• Negative Sentiment: Recent trading commentary noted that Duke Energy has been declining more than the broader market, indicating some near-term pressure on shares. Duke Energy (DUK) Declines More Than Market: Some Information for Investors

Insider Activity

In other Duke Energy news, CEO Harry K. Sideris sold 20,000 shares of Duke Energy stock in a transaction dated 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 in the company, valued at approximately $11,952,205.74. This trade represents a 17.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Louis E. Renjel sold 3,500 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $2,680,087.25. This trade represents a 14.05% decrease in their position. The SEC filing for this sale provides additional information. 0.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on DUK shares. Wall Street Zen raised shares of Duke Energy from a "sell" rating to a "hold" rating in a research report on Saturday, March 28th. Capitol Sec Mgt lowered Duke Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, April 10th. Truist Financial lowered their price objective 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. Evercore increased their price target on Duke Energy from $139.00 to $140.00 in a research note on Monday, May 11th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Duke Energy in a report on Monday, May 4th. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, Duke Energy presently has a consensus rating of "Moderate Buy" and an average price target of $138.07.

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.

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