M3 Wealth Management LLC Acquires New Holdings in Duke Energy Corporation $DUK

Key Points

• M3 Wealth Management opened a new position in Duke Energy during the fourth quarter, buying 10,197 shares worth about $1.195 million. The stake makes up roughly 0.9% of its portfolio.
• Duke Energy recently beat quarterly earnings and revenue expectations, reporting $1.93 EPS versus $1.87 expected and $9.18 billion in revenue versus $8.44 billion expected. Revenue rose 11.3% from a year earlier.
• The company also announced a quarterly dividend of $1.065 per share, or $4.26 annually, yielding about 3.4%. Meanwhile, analysts remain split overall, with MarketBeat showing a Moderate Buy consensus and an average price target of $139.07.

M3 Wealth Management LLC acquired a new stake in Duke Energy Corporation (NYSE:DUK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,197 shares of the utilities provider's stock, valued at approximately $1,195,000. Duke Energy comprises approximately 0.9% of M3 Wealth Management LLC's portfolio, making the stock its 29th largest position.

Other large investors have also recently added to or reduced their stakes in the company. Dorato Capital Management acquired a new stake in Duke Energy in the 4th quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Duke Energy during the 3rd quarter worth about $27,000. Lodestone Wealth Management LLC acquired a new stake in shares of Duke Energy during the 4th quarter worth about $30,000. Wiser Advisor Group LLC acquired a new stake in shares of Duke Energy during the 3rd quarter worth about $34,000. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Duke Energy by 13,750.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 277 shares of the utilities provider's stock worth $33,000 after purchasing an additional 275 shares during the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. BMO Capital Markets decreased their price target on shares of Duke Energy from $139.00 to $138.00 in a research note on Wednesday, May 6th. BTIG Research restated a "buy" rating and issued a $141.00 price target on shares of Duke Energy in a report on Friday, January 30th. Weiss Ratings restated a "buy (b)" rating on shares of Duke Energy in a report on Monday, May 4th. Mizuho lifted their price objective on shares of Duke Energy from $130.00 to $139.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. Finally, Capitol Sec Mgt lowered shares of Duke Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 10th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Duke Energy currently has an average rating of "Moderate Buy" and an average price target of $139.07.

Duke Energy Stock Down 0.5%

DUK stock opened at $125.08 on Wednesday. Duke Energy Corporation has a twelve month low of $113.39 and a twelve month high of $134.49. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $97.51 billion, a P/E ratio of 19.15 and a beta of 0.41. The firm has a 50 day simple moving average of $127.96 and a 200-day simple moving average of $124.05.

Duke Energy (NYSE:DUK - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $8.44 billion. During the same quarter last year, the company earned $1.76 earnings per share. The business's quarterly revenue was up 11.3% compared to the same quarter last year. On average, equities research analysts predict that Duke Energy Corporation will post 6.71 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th will be issued a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Friday, May 15th. Duke Energy's payout ratio is currently 65.24%.

Insiders Place Their Bets

In other Duke Energy news, CEO Harry K. Sideris sold 20,000 shares of Duke Energy stock in a transaction on 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 transaction, the chief executive officer owned 96,102 shares of the company's stock, valued at $11,952,205.74. The trade was a 17.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Louis E. Renjel sold 3,500 shares of Duke Energy stock in a transaction 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 transaction, the chief executive officer directly owned 21,415 shares of the company's stock, valued at approximately $2,680,087.25. This represents a 14.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.12% of the company's stock.

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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