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M&T Bank Corp Has $5.89 Million Stake in Duke Energy Corporation $DUK

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Key Points

  • M&T Bank Corp cut its stake in Duke Energy by 85.5% in Q4, selling 296,741 shares and retaining 50,272 shares valued at about $5.89 million.
  • Duke Energy beat Q4 estimates modestly (EPS $1.50 vs. $1.49; revenue $7.94B vs. $7.57B), has a market cap near $99 billion, and carries a consensus analyst rating of "Moderate Buy" with a ~$140.25 price target.
  • Company insiders have been selling shares—CEO Louis Renjel sold 6,800 shares (a 23.6% reduction in his stake)—and insiders now hold just 0.12% of the stock.
  • Interested in Duke Energy? Here are five stocks we like better.

M&T Bank Corp decreased its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 85.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,272 shares of the utilities provider's stock after selling 296,741 shares during the quarter. M&T Bank Corp's holdings in Duke Energy were worth $5,892,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Clarity Financial LLC grew its stake in shares of Duke Energy by 11.1% in the fourth quarter. Clarity Financial LLC now owns 191,138 shares of the utilities provider's stock valued at $22,403,000 after acquiring an additional 19,071 shares in the last quarter. Bigelow Investment Advisors LLC grew its stake in shares of Duke Energy by 1.3% in the fourth quarter. Bigelow Investment Advisors LLC now owns 7,373 shares of the utilities provider's stock valued at $864,000 after acquiring an additional 94 shares in the last quarter. Crown Wealth Group LLC grew its position in Duke Energy by 9.9% during the fourth quarter. Crown Wealth Group LLC now owns 1,882 shares of the utilities provider's stock worth $221,000 after buying an additional 170 shares in the last quarter. CPC Advisors LLC grew its position in Duke Energy by 2,640.3% during the fourth quarter. CPC Advisors LLC now owns 53,710 shares of the utilities provider's stock worth $6,295,000 after buying an additional 51,750 shares in the last quarter. Finally, Eagle Global Advisors LLC acquired a new stake in Duke Energy during the fourth quarter worth approximately $1,248,000. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Trading Down 0.6%

Shares of DUK opened at $127.28 on Friday. Duke Energy Corporation has a 52-week low of $111.22 and a 52-week high of $134.49. The business's fifty day moving average is $129.73 and its 200-day moving average is $124.23. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.33 and a current ratio of 0.55. The firm has a market cap of $99.04 billion, a price-to-earnings ratio of 20.14 and a beta of 0.46.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings results on Monday, February 9th. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.01. Duke Energy had a return on equity of 9.66% and a net margin of 15.41%.The company had revenue of $7.94 billion for the quarter, compared to analyst estimates of $7.57 billion. During the same quarter last year, the company posted $1.66 EPS. Equities analysts anticipate that Duke Energy Corporation will post 6.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Louis E. Renjel sold 6,800 shares of Duke Energy stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $127.67, for a total transaction of $868,156.00. Following the sale, the chief executive officer directly owned 22,007 shares of the company's stock, valued at approximately $2,809,633.69. The trade was a 23.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Regis T. Repko sold 962 shares of Duke Energy stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $127.86, for a total transaction of $123,001.32. Following the sale, the senior vice president directly owned 3,896 shares in the company, valued at $498,142.56. This trade represents a 19.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on DUK shares. Evercore reissued an "in-line" rating and set a $139.00 price target on shares of Duke Energy in a research report on Thursday, March 5th. Truist Financial started coverage on Duke Energy in a research report on Monday, April 20th. They set a "buy" rating and a $142.00 price target on the stock. Morgan Stanley reduced their price target on Duke Energy from $142.00 to $141.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 21st. UBS Group increased their price objective on shares of Duke Energy from $136.00 to $140.00 in a research note on Monday, March 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Duke Energy from $138.00 to $139.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Duke Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $140.25.

Check Out Our Latest Research Report on DUK

Duke Energy News Summary

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

About Duke Energy

(Free Report)

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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Want to see what other hedge funds are holding DUK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Duke Energy Corporation (NYSE:DUK - Free Report).

Institutional Ownership by Quarter for Duke Energy (NYSE:DUK)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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