ProShare Advisors LLC Grows Stake in Duke Energy Corporation $DUK

Key Points

• ProShare Advisors LLC increased its stake in Duke Energy by 8.4% in the fourth quarter, bringing its holdings to 146,098 shares valued at about $17.1 million.
• Duke Energy reported better-than-expected quarterly results, with earnings of $1.93 per share versus estimates of $1.87 and revenue of $9.18 billion versus expectations of $8.44 billion.
• The company announced a quarterly dividend of $1.065 per share, implying an annualized yield of about 3.4%; analysts currently rate the stock a Moderate Buy with a consensus price target of $139.67.

ProShare Advisors LLC raised its holdings in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 146,098 shares of the utilities provider's stock after purchasing an additional 11,260 shares during the period. ProShare Advisors LLC's holdings in Duke Energy were worth $17,124,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Duke Energy by 2.6% in 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. ANTIPODES PARTNERS Ltd acquired a new position in shares of Duke Energy during the third quarter valued at about $86,309,000. VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in shares of Duke Energy by 447.3% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 513,905 shares of the utilities provider's stock valued at $60,235,000 after acquiring an additional 420,005 shares in the last quarter. Caisse de depot et placement du Quebec boosted its stake in Duke Energy by 19.1% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 2,613,595 shares of the utilities provider's stock worth $323,432,000 after purchasing an additional 419,992 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in Duke Energy by 178.1% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 505,891 shares of the utilities provider's stock worth $59,376,000 after purchasing an additional 323,991 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company's stock.

Duke Energy Stock Performance

Shares of NYSE DUK opened at $123.82 on Thursday. The company has a 50 day simple moving average of $128.42 and a two-hundred day simple moving average of $124.01. The stock has a market cap of $96.53 billion, a price-to-earnings ratio of 18.96 and a beta of 0.41. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. Duke Energy Corporation has a 12 month low of $113.39 and a 12 month high of $134.49.

Duke Energy (NYSE:DUK - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The business's quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.76 earnings per share. As a group, analysts predict that Duke Energy Corporation will post 6.71 earnings per share for the current year.

Duke Energy Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have issued reports on DUK. JPMorgan Chase & Co. decreased their price target on shares of Duke Energy from $139.00 to $136.00 and set a "neutral" rating for the company in a report on Wednesday, May 13th. Royal Bank Of Canada lowered 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 note on Friday, January 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of Duke Energy in a report on Monday, May 4th. Capitol Sec Mgt downgraded Duke Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 10th. Finally, Evercore lifted their price target on Duke Energy from $139.00 to $140.00 in a research report on Monday, May 11th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $139.67.

Key Headlines Impacting Duke Energy

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

• Positive Sentiment: Duke Energy’s latest earnings call highlighted progress on its large growth plan, reinforcing the company’s long-term earnings and capital investment story. Duke Energy EPS Jumps as Massive Growth Plan Advances

Insider Buying and Selling at Duke Energy

In other news, SVP Regis T. Repko sold 962 shares of the business's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $127.86, for a total value of $123,001.32. Following the completion of the transaction, the senior vice president owned 3,896 shares of the company's stock, valued at $498,142.56. The trade was a 19.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Harry K. Sideris sold 20,000 shares of the company's 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 owned 96,102 shares in the company, valued at $11,952,205.74. The trade was a 17.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 24,462 shares of company stock worth $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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