QRG Capital Management Inc. Has $21.88 Million Stock Position in Duke Energy Corporation $DUK

Key Points

• QRG Capital Management increased its stake in Duke Energy by 10.7% in the first quarter, buying 16,158 more shares and bringing its total holding to 167,059 shares worth about $21.88 million.
• Duke Energy reported strong quarterly results, with EPS of $1.93 beating estimates and revenue of $9.18 billion topping forecasts; analysts expect full-year EPS of 6.71.
• The company also paid a quarterly dividend of $1.065 per share, equal to a 3.3% annualized yield, while two CEOs recently sold shares and analysts currently rate the stock a Moderate Buy on average.

QRG Capital Management Inc. raised its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 10.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 167,059 shares of the utilities provider's stock after purchasing an additional 16,158 shares during the quarter. QRG Capital Management Inc.'s holdings in Duke Energy were worth $21,875,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Basso Capital Management L.P. bought a new position in shares of Duke Energy in the 4th quarter valued at about $25,000. Dorato Capital Management bought a new position in shares of Duke Energy during the 4th quarter worth approximately $26,000. Evolution Wealth Management Inc. raised its stake in Duke Energy by 1,111.1% in the 4th quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 200 shares during the period. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Duke Energy in the third quarter valued at $27,000. Finally, Triumph Capital Management boosted its holdings in shares of Duke Energy by 68.6% during the 4th quarter. Triumph Capital Management now owns 231 shares of the utilities provider's stock worth $27,000 after buying an additional 94 shares during the period. 65.31% of the stock is owned by institutional investors.

Duke Energy Stock Down 0.1%

DUK stock opened at $129.44 on Friday. The stock has a market capitalization of $100.91 billion, a P/E ratio of 19.82 and a beta of 0.38. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. The firm has a 50-day moving average price of $125.06 and a 200-day moving average price of $124.78. Duke Energy Corporation has a 12 month low of $113.89 and a 12 month high of $134.49.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, beating the consensus estimate of $1.87 by $0.06. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The firm's revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.76 EPS. As a group, equities research analysts anticipate that Duke Energy Corporation will post 6.71 EPS for the current fiscal year.

Duke Energy Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Louis E. Renjel sold 3,500 shares of the stock in a transaction on 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 directly owned 21,415 shares in the company, valued at $2,680,087.25. This represents a 14.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 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 company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DUK. Capitol Sec Mgt lowered Duke Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 10th. Evercore lifted their price target on shares of Duke Energy from $139.00 to $140.00 in a research report on Monday, May 11th. Wall Street Zen upgraded Duke Energy from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. Morgan Stanley raised their price target on Duke Energy from $132.00 to $136.00 in a research report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. dropped their target price 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. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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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