Korea Investment CORP Acquires 13,424 Shares of Duke Energy Corporation $DUK

Key Points

• Korea Investment CORP increased its stake in Duke Energy by 2.1%, acquiring an additional 13,424 shares during the first quarter, bringing its total to 639,530 shares worth approximately $78 million.
• Company executive Thomas Preston Jr. Gillespie sold 6,700 shares of Duke Energy, reducing his position by 12.61%, with a total value for the sale of around $832,542.
• Duke Energy recently announced a quarterly dividend increase to $1.065 per share, up from $1.05, reflecting a 3.5% yield with a payout ratio of 69.27%.

Korea Investment CORP boosted its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 639,530 shares of the utilities provider's stock after purchasing an additional 13,424 shares during the period. Korea Investment CORP owned about 0.08% of Duke Energy worth $78,003,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Investment Management Corp of Ontario increased its position in shares of Duke Energy by 212.8% during the fourth quarter. Investment Management Corp of Ontario now owns 79,989 shares of the utilities provider's stock worth $8,618,000 after buying an additional 54,413 shares during the period. Andrew Hill Investment Advisors Inc. grew its holdings in Duke Energy by 338.6% in the first quarter. Andrew Hill Investment Advisors Inc. now owns 37,763 shares of the utilities provider's stock worth $4,606,000 after purchasing an additional 29,153 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Duke Energy by 7.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 291,667 shares of the utilities provider's stock valued at $35,575,000 after buying an additional 20,942 shares during the last quarter. Pinnacle Financial Partners Inc grew its holdings in shares of Duke Energy by 9.9% during the first quarter. Pinnacle Financial Partners Inc now owns 127,419 shares of the utilities provider's stock valued at $14,451,000 after buying an additional 11,445 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. grew its holdings in shares of Duke Energy by 8.1% during the first quarter. Beacon Investment Advisory Services Inc. now owns 51,354 shares of the utilities provider's stock valued at $6,264,000 after buying an additional 3,837 shares during the last quarter. Institutional investors own 65.31% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DUK. Scotiabank boosted their target price on shares of Duke Energy from $120.00 to $128.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 6th. Wells Fargo & Company upped their price target on shares of Duke Energy from $127.00 to $138.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. upped their price target on shares of Duke Energy from $127.00 to $131.00 and gave the company a "neutral" rating in a research note on Thursday. Morgan Stanley dropped their price target on shares of Duke Energy from $125.00 to $124.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. Finally, The Goldman Sachs Group set a $132.00 price target on shares of Duke Energy in a research note on Tuesday, July 1st. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $130.07.

Insiders Place Their Bets

In other news, SVP Bonnie B. Titone sold 2,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total value of $248,760.00. Following the transaction, the senior vice president owned 19,608 shares of the company's stock, valued at $2,438,843.04. This represents a 9.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $124.26, for a total transaction of $832,542.00. Following the completion of the transaction, the executive vice president directly owned 46,422 shares in the company, valued at $5,768,397.72. The trade was a 12.61% decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Duke Energy Price Performance

Duke Energy stock traded up $0.0740 during midday trading on Friday, reaching $124.2140. 2,182,812 shares of the stock were exchanged, compared to its average volume of 3,497,655. The company's fifty day moving average is $119.78 and its 200-day moving average is $118.35. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.42 and a current ratio of 0.66. The firm has a market cap of $96.59 billion, a PE ratio of 20.20, a PEG ratio of 3.00 and a beta of 0.36. Duke Energy Corporation has a 52 week low of $105.20 and a 52 week high of $127.85.

Duke Energy (NYSE:DUK - Get Free Report) last posted its earnings results on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share for the quarter, missing analysts' consensus estimates of $1.29 by ($0.04). The firm had revenue of $7.51 billion for the quarter, compared to the consensus estimate of $7.07 billion. Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The business's revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $1.18 EPS. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. On average, sell-side analysts forecast that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be issued a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's payout ratio is currently 69.27%.

Duke Energy Profile

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.