Milford Funds Ltd. Makes New $97.91 Million Investment in Duke Energy Corporation $DUK

Key Points

• Milford Funds Ltd. opened a new position in Duke Energy, buying 835,293 shares worth about $97.9 million. The stake represents roughly 1.9% of Milford’s portfolio and about 0.11% of Duke Energy.
• Institutional ownership in Duke Energy remains high, with hedge funds and asset managers continuing to add shares. The article notes that 65.31% of the stock is held by institutional investors and hedge funds.
• Wall Street sentiment is still constructive: Duke Energy has an average “Moderate Buy” rating and a consensus target price of $138.93. The company also recently beat quarterly earnings expectations and declared a quarterly dividend of $1.065 per share.

Milford Funds Ltd. acquired a new position in shares of Duke Energy Corporation (NYSE:DUK - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 835,293 shares of the utilities provider's stock, valued at approximately $97,905,000. Duke Energy makes up approximately 1.9% of Milford Funds Ltd.'s portfolio, making the stock its 18th biggest holding. Milford Funds Ltd. owned 0.11% of Duke Energy as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake 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. Geode Capital Management LLC increased its stake in shares of 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 buying an additional 230,375 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Duke Energy by 13.1% in the fourth quarter. Franklin Resources Inc. now owns 8,236,893 shares of the utilities provider's stock valued at $965,446,000 after buying an additional 954,907 shares in the last quarter. Northern Trust Corp increased its stake in shares of 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 buying an additional 31,703 shares in the last quarter. Finally, Capital Research Global Investors grew its holdings in Duke Energy by 0.3% during the 3rd quarter. Capital Research Global Investors now owns 5,033,225 shares of the utilities provider's stock worth $622,862,000 after acquiring an additional 12,758 shares during the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wall Street Zen raised shares of Duke Energy from a "sell" rating to a "hold" rating in a report on Saturday, March 28th. Mizuho increased their price objective on shares of Duke Energy from $130.00 to $139.00 and gave the stock an "outperform" rating in a report on Wednesday, May 6th. Truist Financial decreased their price objective on shares of Duke Energy from $142.00 to $137.00 and set a "buy" rating on the stock in a report on Monday, May 18th. Morgan Stanley decreased their price objective on shares of Duke Energy from $141.00 to $132.00 in a report on Thursday, May 21st. Finally, Evercore increased their price objective on shares of Duke Energy from $139.00 to $140.00 in a report on Monday, May 11th. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Duke Energy presently has an average rating of "Moderate Buy" and an average target price of $138.93.

Insider Transactions at Duke Energy

In related news, CEO Harry K. Sideris sold 20,000 shares of Duke Energy stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 96,102 shares in the company, valued at $11,952,205.74. This trade represents a 17.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Louis E. Renjel sold 3,500 shares of Duke Energy stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $125.15, for a total value 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 approximately $2,680,087.25. The trade was a 14.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is owned by company insiders.

More Duke Energy News

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

• Positive Sentiment: Analysts and market commentary are highlighting Duke Energy as a defensive, low-volatility utility pick as inflation jumps and oil prices surge, which can draw investors toward stable dividend names like DUK. 3 Low-Beta Utility Stocks to Buy as Inflation Jumps to Three-Year High
• Positive Sentiment: A Seeking Alpha piece argues Duke Energy could keep rising, reinforcing bullish sentiment around the company’s earnings outlook, utility stability, and rate-driven growth profile. Duke Energy: Why This Utility Could Keep Rising
• Positive Sentiment: Duke Energy received up to $96 million in federal coal plant grants, which could help offset refurbishment costs and support grid reliability without passing as much expense to customers. How Investors Are Reacting To Duke Energy (DUK) Winning US$96 Million In Federal Coal Plant Grants
• Positive Sentiment: Brokerage coverage remains constructive, with Duke Energy carrying an average “Moderate Buy” recommendation. Duke Energy Corporation NYSE: DUK Given Average Recommendation of "Moderate Buy" by Brokerages

Duke Energy Price Performance

Shares of DUK stock opened at $124.91 on Friday. The stock has a 50-day moving average price of $126.16 and a 200 day moving average price of $124.01. The company has a quick ratio of 0.44, a current ratio of 0.66 and a debt-to-equity ratio of 1.45. The firm has a market cap of $97.38 billion, a price-to-earnings ratio of 19.13 and a beta of 0.39. Duke Energy Corporation has a 12 month low of $113.66 and a 12 month high of $134.49.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.87 by $0.06. The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.44 billion. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The company's revenue was up 11.3% on a year-over-year basis. During the same period last year, the company earned $1.76 earnings per share. Research analysts expect that Duke Energy Corporation will post 6.71 EPS for the current year.

Duke Energy Announces Dividend

The company also recently disclosed 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. This represents a $4.26 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Friday, May 15th. Duke Energy's dividend payout ratio (DPR) is presently 65.24%.

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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