North Dakota State Investment Board Makes New $3.13 Million Investment in Duke Energy Corporation $DUK

Key Points

• North Dakota State Investment Board opened a new position in Duke Energy in the fourth quarter, buying 26,681 shares valued at about $3.13 million.
• Duke Energy reported strong quarterly results, with EPS of $1.93 beating estimates and revenue of $9.18 billion topping expectations; revenue also rose 11.3% year over year.
• The company declared a quarterly dividend of $1.065 per share, equal to an annualized yield of about 3.5%, while analysts currently rate the stock a Moderate Buy with an average price target of $139.67.

North Dakota State Investment Board purchased a new position in Duke Energy Corporation (NYSE:DUK - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 26,681 shares of the utilities provider's stock, valued at approximately $3,127,000.

Other institutional investors have also modified their holdings of the company. Applied Finance Capital Management LLC acquired a new position in shares of Duke Energy in the third quarter worth $1,046,000. Lockheed Martin Investment Management Co. lifted its position in shares of Duke Energy by 11.3% during the 3rd quarter. Lockheed Martin Investment Management Co. now owns 274,630 shares of the utilities provider's stock worth $33,985,000 after purchasing an additional 27,820 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Duke Energy by 9.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 150,426 shares of the utilities provider's stock worth $18,615,000 after purchasing an additional 12,677 shares during the last quarter. Keybank National Association OH lifted its position in shares of Duke Energy by 13.4% during the 3rd quarter. Keybank National Association OH now owns 371,248 shares of the utilities provider's stock worth $45,942,000 after purchasing an additional 43,925 shares during the last quarter. Finally, AE Wealth Management LLC lifted its position in shares of Duke Energy by 51.9% during the 3rd quarter. AE Wealth Management LLC now owns 49,068 shares of the utilities provider's stock worth $6,072,000 after purchasing an additional 16,772 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company's stock.

Duke Energy Price Performance

Shares of DUK opened at $122.80 on Tuesday. Duke Energy Corporation has a 1-year low of $113.39 and a 1-year high of $134.49. The stock has a market cap of $95.73 billion, a PE ratio of 18.81 and a beta of 0.41. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.66 and a quick ratio of 0.44. The firm has a fifty day moving average price of $128.72 and a 200 day moving average price of $124.01.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, beating 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 firm had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.44 billion. During the same period in the previous year, the company earned $1.76 earnings per share. Duke Energy's quarterly revenue was up 11.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Duke Energy Corporation will post 6.7 EPS for the current year.

Duke Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders 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 dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, May 15th. Duke Energy's dividend payout ratio is presently 65.24%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of Duke Energy from $130.00 to $139.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. decreased their price objective on shares of Duke Energy from $139.00 to $136.00 and set a "neutral" rating for the company in a research report on Wednesday, May 13th. Truist Financial decreased their price objective on shares of Duke Energy from $142.00 to $137.00 and set a "buy" rating for the company in a research report on Monday. UBS Group decreased their price objective on shares of Duke Energy from $137.00 to $135.00 in a research report on Monday, May 11th. Finally, Royal Bank Of Canada decreased their price objective on shares of Duke Energy from $143.00 to $140.00 and set a "sector perform" rating for the company in a research report on Friday, January 23rd. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $139.67.

Insider Activity

In other Duke Energy news, CEO Louis E. Renjel sold 3,500 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $125.15, for a total transaction of $438,025.00. Following the transaction, the chief executive officer directly owned 21,415 shares in the company, valued at approximately $2,680,087.25. This represents a 14.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Regis T. Repko sold 962 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $127.86, for a total transaction of $123,001.32. Following the transaction, the senior vice president directly owned 3,896 shares in the company, valued at approximately $498,142.56. This represents a 19.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 24,462 shares of company stock valued at $3,048,426. Insiders own 0.12% of the company's stock.

Duke Energy 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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