Kingsview Wealth Management LLC Increases Stock Position in Duke Energy Corporation $DUK

Key Points

• Kingsview Wealth Management increased its Duke Energy stake by 16.4% in the fourth quarter, owning 62,308 shares valued at about $7.3 million after the purchase.
• Duke Energy reported better-than-expected Q1 results, with EPS of $1.93 versus estimates of $1.87 and revenue of $9.18 billion versus $8.44 billion, while quarterly revenue rose 11.3% year over year.
• The company declared a quarterly dividend of $1.065 per share, equal to an annualized yield of about 3.4%, even as analysts maintained a mixed but overall Moderate Buy view with an average price target of $139.07.

Kingsview Wealth Management LLC raised its holdings in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 16.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,308 shares of the utilities provider's stock after purchasing an additional 8,761 shares during the period. Kingsview Wealth Management LLC's holdings in Duke Energy were worth $7,303,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Dorato Capital Management bought a new position in shares of Duke Energy in the 4th quarter worth about $26,000. KERR FINANCIAL PLANNING Corp purchased a new position in Duke Energy in the third quarter worth about $27,000. Lodestone Wealth Management LLC bought a new position in shares of Duke Energy in the fourth quarter worth approximately $30,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of Duke Energy by 300.0% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 280 shares of the utilities provider's stock valued at $33,000 after buying an additional 210 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its position in shares of Duke Energy by 13,750.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 277 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 275 shares in the last quarter. Institutional investors own 65.31% of the company's stock.

Key Duke Energy News

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

Insider Transactions at Duke Energy

In related news, CEO Harry K. Sideris sold 20,000 shares of the stock in a transaction that occurred on 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 directly owned 96,102 shares of the company's stock, valued at approximately $11,952,205.74. This represents a 17.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Louis E. Renjel sold 3,500 shares of the firm'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 owned 21,415 shares of the company's stock, valued at $2,680,087.25. This represents a 14.05% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.12% of the company's stock.

Duke Energy Trading Down 1.3%

DUK stock opened at $123.70 on Friday. The company has a market capitalization of $96.43 billion, a price-to-earnings 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 Corporation has a 1-year low of $113.39 and a 1-year high of $134.49. The business has a 50 day simple moving average of $127.61 and a two-hundred day simple moving average of $124.05.

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. The firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The company's quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.76 earnings per share. Research analysts anticipate that Duke Energy Corporation will post 6.71 EPS for the current fiscal year.

Duke Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders 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 dividend yield of 3.4%. Duke Energy's dividend payout ratio (DPR) is presently 65.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Capitol Sec Mgt lowered shares of Duke Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, April 10th. UBS Group reduced their price target on shares of Duke Energy from $137.00 to $135.00 in a research report on Monday, May 11th. Wells Fargo & Company upped their price objective on Duke Energy from $135.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Monday, April 20th. Truist Financial decreased their target price on shares of Duke Energy from $142.00 to $137.00 and set a "buy" rating on the stock in a research note on Monday, May 18th. Finally, Mizuho upped their price target 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. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Duke Energy presently has an average rating of "Moderate Buy" and an average price target of $139.07.

Duke Energy Company 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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