Intech Investment Management LLC Acquires 175,398 Shares of Duke Energy Corporation $DUK

Key Points

• Intech Investment Management boosted its Duke Energy stake by 243.6% in the fourth quarter, buying 175,398 additional shares and lifting its total holding to 247,392 shares worth about $29 million.
• Institutional ownership remains heavy, with major holders like Vanguard and Geode also adding to positions; overall, 65.31% of Duke Energy stock is owned by institutions.
• Duke Energy reported better-than-expected quarterly results and announced a quarterly dividend of $1.065 per share, while analysts currently view the stock as a Moderate Buy with an average target price of $139.07.

Intech Investment Management LLC increased its holdings in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 243.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 247,392 shares of the utilities provider's stock after buying an additional 175,398 shares during the quarter. Intech Investment Management LLC's holdings in Duke Energy were worth $28,997,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Duke Energy by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider's stock valued at $9,172,709,000 after purchasing an additional 1,957,592 shares during the last quarter. Geode Capital Management LLC raised its position in Duke Energy by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 19,292,633 shares of the utilities provider's stock valued at $2,266,675,000 after purchasing an additional 230,375 shares during the last quarter. Northern Trust Corp raised its position in Duke Energy by 0.4% in the third quarter. Northern Trust Corp now owns 7,758,700 shares of the utilities provider's stock valued at $960,139,000 after purchasing an additional 31,703 shares during the last quarter. Franklin Resources Inc. raised its position in Duke Energy by 4.1% in the third quarter. Franklin Resources Inc. now owns 7,281,986 shares of the utilities provider's stock valued at $901,146,000 after purchasing an additional 288,499 shares during the last quarter. Finally, Capital Research Global Investors raised its position in Duke Energy by 0.3% in the third quarter. Capital Research Global Investors now owns 5,033,225 shares of the utilities provider's stock valued at $622,862,000 after purchasing an additional 12,758 shares during the last quarter. 65.31% of the stock is currently owned by institutional investors.

Duke Energy News Roundup

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Morgan Stanley dropped their target price on Duke Energy from $141.00 to $132.00 in a research report on Thursday, May 21st. UBS Group dropped their target price on Duke Energy from $137.00 to $135.00 in a research report on Monday, May 11th. Wall Street Zen upgraded Duke Energy from a "sell" rating to a "hold" rating in a research report on Saturday, March 28th. The Goldman Sachs Group increased their target price on Duke Energy from $141.00 to $142.00 and gave the company a "buy" rating in a research report on Wednesday, February 11th. Finally, Capitol Sec Mgt cut Duke Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 10th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $139.07.

Duke Energy Trading Down 1.3%

NYSE DUK opened at $123.70 on Friday. The business has a 50 day simple moving average of $127.61 and a 200 day simple moving average of $124.05. Duke Energy Corporation has a one year low of $113.39 and a one year high of $134.49. The stock has a market capitalization of $96.43 billion, a P/E ratio of 18.94 and a beta of 0.41. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.66 and a quick ratio of 0.44.

Duke Energy (NYSE:DUK - Get Free Report) last released its earnings results on Monday, May 4th. The utilities provider reported $1.93 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 during the quarter, compared to analysts' expectations of $8.44 billion. During the same quarter last year, the firm posted $1.76 earnings per share. The firm's revenue was up 11.3% on a year-over-year basis. Research analysts expect that Duke Energy Corporation will post 6.71 earnings per share for the current year.

Duke Energy Announces Dividend

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 dividend of $1.065 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $4.26 annualized dividend and a yield of 3.4%. Duke Energy's dividend payout ratio (DPR) is currently 65.24%.

Insider Activity at Duke Energy

In related news, CEO Louis E. Renjel sold 3,500 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 21,415 shares of the company's stock, 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 SEC, which is available at the SEC website. Also, CEO Harry K. Sideris sold 20,000 shares of the firm'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 value of $2,487,400.00. Following the sale, the chief executive officer directly owned 96,102 shares of the company's stock, valued at $11,952,205.74. This represents a 17.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.12% of the company's stock.

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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