Illinois Municipal Retirement Fund Buys 60,497 Shares of Duke Energy Corporation $DUK

Key Points

• Illinois Municipal Retirement Fund boosted its Duke Energy stake by 25.9% in the fourth quarter, buying 60,497 additional shares and bringing its total holdings to 294,156 shares worth about $34.5 million.
• Duke Energy continues to draw mixed analyst views, with a consensus rating of Moderate Buy and an average price target of $138.93; several firms recently adjusted their targets, while BTIG reiterated a buy rating.
• The company has had a string of notable developments, including federal grants for coal plant upgrades, a court-approved natural gas rate hike in Ohio, and a recently announced quarterly dividend of $1.065 per share, yielding about 3.4%.

Illinois Municipal Retirement Fund increased its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 25.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 294,156 shares of the utilities provider's stock after acquiring an additional 60,497 shares during the period. Illinois Municipal Retirement Fund's holdings in Duke Energy were worth $34,478,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Dorato Capital Management bought a new position in shares of Duke Energy during the 4th quarter valued at about $26,000. Evolution Wealth Management Inc. raised its holdings in shares of Duke Energy by 1,111.1% during the 4th quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider's stock valued at $26,000 after buying an additional 200 shares in the last quarter. KERR FINANCIAL PLANNING Corp bought a new stake in Duke Energy in the 3rd quarter worth approximately $27,000. Lodestone Wealth Management LLC purchased a new stake in Duke Energy in the fourth quarter worth approximately $30,000. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its stake in Duke Energy by 300.0% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 280 shares of the utilities provider's stock worth $33,000 after buying an additional 210 shares in the last quarter. Institutional investors own 65.31% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on DUK. BTIG Research reissued a "buy" rating and set a $139.00 price target on shares of Duke Energy in a research note on Tuesday, June 2nd. Wall Street Zen raised shares of Duke Energy from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. Morgan Stanley decreased their target price on shares of Duke Energy from $141.00 to $132.00 in a research report on Thursday, May 21st. Wells Fargo & Company boosted their price target on shares of Duke Energy from $135.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Monday, April 20th. Finally, JPMorgan Chase & Co. cut their price target on shares of Duke Energy from $139.00 to $136.00 and set a "neutral" rating for the company in a research report on Wednesday, May 13th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Duke Energy presently has an average rating of "Moderate Buy" and an average target price of $138.93.

Key Duke Energy News

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

• Positive Sentiment: The U.S. Department of Energy selected Duke Energy for up to $61.8 million in additional grants to refurbish coal-fired plants in Kentucky and North Carolina, adding to an earlier $34 million award. The funding could help Duke lower the amount customers or shareholders ultimately bear for plant upgrades while supporting grid reliability. How Investors Are Reacting To Duke Energy (DUK) Winning US$96 Million In Federal Coal Plant Grants
• Positive Sentiment: Ohio’s Supreme Court approved a natural gas rate hike for Duke Energy customers, a reminder that regulators can allow higher rates to flow through the system, which can help protect the company’s earnings. Ohio Supreme Court approves natural gas rate hike for Duke Energy customers
• Positive Sentiment: Duke Energy remains in the market spotlight, with investors watching it as a trending stock and debating whether it is a buy. That attention can help trading interest in DUK. Is Trending Stock Duke Energy Corporation (DUK) a Buy Now?
• Neutral Sentiment: Regulators’ pause in Duke Energy’s solar procurement has raised concerns about future customer bills, but it also signals ongoing scrutiny of how the utility balances clean-energy spending with affordability. Regulators' pause in Duke Energy solar procurement raises concerns about bills
• Neutral Sentiment: At a state hearing, Duke Energy faced questions over how it is helping attract new data centers to North Carolina. Data-center load growth could be a long-term upside, but the hearing suggests the plan may face political or regulatory pushback. At state hearing, Duke Energy faces questions over its role in attracting new data centers to NC
• Negative Sentiment: Questions over a possible $150 bill credit for customers suggest Duke Energy is still under pressure on affordability, which could weigh on sentiment if it leads to lower near-term revenue recovery. Duke Energy customers may be able to get $150 bill credit. But there’s a catch

Insider Activity

In related news, CEO Harry K. Sideris sold 20,000 shares of the business's 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 transaction, the chief executive officer owned 96,102 shares in the company, valued at $11,952,205.74. The trade was a 17.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the chief executive officer directly owned 21,415 shares of the company's stock, valued at $2,680,087.25. The trade was a 14.05% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is owned by company insiders.

Duke Energy Stock Up 1.1%

Shares of NYSE DUK opened at $125.13 on Thursday. The firm's fifty day moving average is $126.42 and its 200 day moving average is $123.99. Duke Energy Corporation has a 52 week low of $113.66 and a 52 week high of $134.49. The company has a quick ratio of 0.44, a current ratio of 0.66 and a debt-to-equity ratio of 1.45. The company has a market cap of $97.55 billion, a price-to-earnings ratio of 19.16 and a beta of 0.39.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.06. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The business had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.44 billion. During the same quarter in the prior year, the company posted $1.76 EPS. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities research analysts expect 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 paid a $1.065 dividend. The ex-dividend date of this dividend is 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 presently 65.24%.

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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