Lockheed Martin Investment Management Co. Acquires 108,420 Shares of Duke Energy Corporation $DUK

Key Points

• Lockheed Martin Investment Management Co. increased its Duke Energy stake by 39.5% in the fourth quarter, buying 108,420 additional shares and bringing its total holding to 383,050 shares worth about $44.9 million.
• Duke Energy’s latest quarter beat Wall Street expectations, reporting $1.93 EPS versus $1.87 expected and revenue of $9.18 billion versus $8.44 billion expected, with revenue up 11.3% year over year.
• The company also announced a quarterly dividend of $1.065 per share, implying an annualized yield of about 3.5%, while analysts currently rate the stock a Moderate Buy with an average price target of $140.

Lockheed Martin Investment Management Co. boosted its holdings in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 39.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 383,050 shares of the utilities provider's stock after acquiring an additional 108,420 shares during the period. Duke Energy makes up approximately 1.5% of Lockheed Martin Investment Management Co.'s investment portfolio, making the stock its 21st largest holding. Lockheed Martin Investment Management Co.'s holdings in Duke Energy were worth $44,897,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DUK. Vanguard Group Inc. lifted its holdings in Duke Energy by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider's stock worth $9,172,709,000 after acquiring an additional 1,957,592 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new position in Duke Energy during the third quarter worth about $86,309,000. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in Duke Energy by 447.3% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 513,905 shares of the utilities provider's stock worth $60,235,000 after acquiring an additional 420,005 shares in the last quarter. Caisse de depot et placement du Quebec raised its stake in shares of Duke Energy by 19.1% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 2,613,595 shares of the utilities provider's stock valued at $323,432,000 after purchasing an additional 419,992 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Duke Energy by 178.1% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 505,891 shares of the utilities provider's stock valued at $59,376,000 after purchasing an additional 323,991 shares during the period. 65.31% of the stock is currently owned by institutional investors.

Duke Energy News Summary

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

• Positive Sentiment: Duke Energy held a groundbreaking ceremony for its Cayuga Energy Complex, signaling continued investment in its generation and infrastructure buildout, which can support future regulated-rate growth. Duke Energy holds a groundbreaking ceremony for their Cayuga Energy Complex
• Positive Sentiment: The company reported that no toxic algae was found at the Lake Norman site after an earlier state finding, which may reduce environmental and reputational concerns. Duke Energy: No toxic algae found at Lake Norman site where state said it was
• Neutral Sentiment: DUK remains a heavily watched stock, with investor attention likely reflecting interest in its defensive utility profile and upcoming rate/regulatory developments. Duke Energy Corporation (DUK) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Reports that Duke Energy’s North Carolina rate-increase hearing was postponed could delay a key catalyst for earnings and cash-flow improvement, but the impact is still uncertain. Duke Energy rate-increase hearing postponed over missed scheduling deadline
• Neutral Sentiment: The company’s claims that a merger will save customers $2.3 billion and news about combining its two North Carolina utilities may help long-term efficiency, but investors are likely waiting to see regulatory details. Duke Energy claims merger to save customers $2.3 billion, double initial estimate
• Negative Sentiment: Questions around North Carolina policy and legal issues tied to Duke Energy’s solar plans could add uncertainty to future capital spending and regulatory approval. Shunning the sunshine? NC order for Duke Energy to hit brakes on solar raises policy, legal questions

Analyst Upgrades and Downgrades

Several analysts have issued reports on DUK shares. The Goldman Sachs Group lifted their price target on Duke Energy from $141.00 to $142.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. Jefferies Financial Group dropped their price target on Duke Energy from $143.00 to $138.00 in a research note on Monday, May 11th. Morgan Stanley dropped their price target on Duke Energy from $142.00 to $141.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 21st. Barclays lifted their price target on Duke Energy from $127.00 to $143.00 and gave the company an "overweight" rating in a research note on Tuesday, April 7th. Finally, Truist Financial started coverage on Duke Energy in a research note on Monday, April 20th. They issued a "buy" rating and a $142.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $140.00.

Duke Energy Price Performance

NYSE:DUK opened at $120.98 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.44 and a current ratio of 0.66. The stock's 50-day simple moving average is $128.90 and its 200 day simple moving average is $124.06. The company has a market cap of $94.31 billion, a P/E ratio of 18.53 and a beta of 0.41. Duke Energy Corporation has a 52-week low of $113.39 and a 52-week high of $134.49.

Duke Energy (NYSE:DUK - Get Free Report) last released its earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.87 by $0.06. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.44 billion. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.Duke Energy's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.76 earnings per share. As a group, sell-side analysts forecast that Duke Energy Corporation will post 6.7 EPS for the current fiscal year.

Duke Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Friday, May 15th will be given a $1.065 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.5%. Duke Energy's payout ratio is currently 65.24%.

Insider Activity at Duke Energy

In related news, SVP Regis T. Repko sold 962 shares of Duke Energy stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $127.86, for a total value of $123,001.32. Following the sale, the senior vice president owned 3,896 shares of the company's stock, valued at approximately $498,142.56. The trade was a 19.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Harry K. Sideris sold 20,000 shares of Duke Energy stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $124.37, for a total value of $2,487,400.00. Following the completion of the sale, the chief executive officer directly owned 96,102 shares in the company, valued at approximately $11,952,205.74. This represents a 17.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 24,462 shares of company stock valued at $3,048,426. 0.12% of the stock is owned by insiders.

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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