New York State Teachers Retirement System Grows Stock Position in Duke Energy Corporation $DUK

Key Points

• New York State Teachers Retirement System increased its Duke Energy stake by 6.5% in the first quarter, bringing its holdings to 649,924 shares valued at about $85.1 million.
• Duke Energy reported better-than-expected quarterly results, with EPS of $1.93 versus the $1.87 estimate and revenue of $9.18 billion, up 11.3% year over year.
• The company also paid a quarterly dividend of $1.065 per share, annualizing to $4.26 and yielding 3.3%, while analysts currently rate the stock a Moderate Buy with an average price target of $138.33.

New York State Teachers Retirement System boosted its stake in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 649,924 shares of the utilities provider's stock after purchasing an additional 39,659 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of Duke Energy worth $85,101,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DUK. Basso Capital Management L.P. purchased a new stake in shares of Duke Energy during the fourth quarter worth approximately $25,000. Dorato Capital Management purchased a new position in Duke Energy in the fourth quarter worth approximately $26,000. Evolution Wealth Management Inc. lifted its stake in Duke Energy by 1,111.1% in the fourth quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider's stock worth $26,000 after acquiring an additional 200 shares during the last quarter. KERR FINANCIAL PLANNING Corp acquired a new position in Duke Energy during the 3rd quarter worth approximately $27,000. Finally, Triumph Capital Management increased its position in shares of Duke Energy by 68.6% in the 4th quarter. Triumph Capital Management now owns 231 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company's stock.

Duke Energy Stock Up 2.9%

Shares of NYSE DUK opened at $129.44 on Friday. The business has a 50-day moving average price of $124.97 and a 200 day moving average price of $124.75. The stock has a market cap of $100.91 billion, a PE ratio of 19.82 and a beta of 0.38. The company has a quick ratio of 0.44, a current ratio of 0.66 and a debt-to-equity ratio of 1.45. Duke Energy Corporation has a 52-week low of $113.89 and a 52-week high of $134.49.

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

Duke Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th were issued a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, May 15th. Duke Energy's payout ratio is presently 65.24%.

Insider Buying and Selling at Duke Energy

In related news, CEO Louis E. Renjel sold 3,500 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $125.15, for a total transaction of $438,025.00. Following the completion of the sale, the chief executive officer owned 21,415 shares in the company, valued at $2,680,087.25. This represents a 14.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Harry K. Sideris sold 20,000 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the transaction, the chief executive officer directly owned 96,102 shares in the company, valued at $11,952,205.74. The trade was a 17.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.12% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DUK. BTIG Research restated a "buy" rating and issued a $139.00 price objective on shares of Duke Energy in a report on Tuesday, June 2nd. Weiss Ratings reiterated a "buy (b)" rating on shares of Duke Energy in a research note on Monday, May 4th. Evercore increased their target price on Duke Energy from $139.00 to $140.00 in a report on Monday, May 11th. JPMorgan Chase & Co. cut their price target on Duke Energy from $139.00 to $136.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 13th. Finally, Barclays lowered their price objective on Duke Energy from $143.00 to $134.00 and set an "overweight" rating for the company in a research report on Thursday, June 18th. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $138.33.

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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