Strs Ohio Invests $28.03 Million in Duke Energy Corporation $DUK

Key Points

• Strs Ohio has made a new investment in Duke Energy Corporation, acquiring 229,808 shares valued at approximately $28.03 million.
• Several institutional investors, including Brighton Jones LLC and Lazard Asset Management, have increased their stakes in Duke Energy during the fourth quarter.
• Duke Energy plans to pay a quarterly dividend of $1.065 starting September 16, an increase from its previous dividend of $1.05, resulting in a 3.5% dividend yield.

Strs Ohio purchased a new position in Duke Energy Corporation (NYSE:DUK - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 229,808 shares of the utilities provider's stock, valued at approximately $28,030,000.

Other institutional investors also recently made changes to their positions in the company. Activest Wealth Management lifted its stake in shares of Duke Energy by 98.1% in the 1st quarter. Activest Wealth Management now owns 212 shares of the utilities provider's stock worth $26,000 after acquiring an additional 105 shares during the period. Vermillion Wealth Management Inc. purchased a new stake in shares of Duke Energy in the 4th quarter valued at approximately $27,000. Wayfinding Financial LLC purchased a new stake in shares of Duke Energy in the 1st quarter valued at approximately $27,000. N.E.W. Advisory Services LLC acquired a new position in Duke Energy in the 1st quarter valued at approximately $27,000. Finally, Mattson Financial Services LLC acquired a new position in Duke Energy in the 4th quarter valued at approximately $28,000. 65.31% of the stock is owned by institutional investors and hedge funds.

Duke Energy Stock Down 0.1%

Shares of DUK traded down $0.15 during mid-day trading on Friday, hitting $121.96. 2,136,379 shares of the company's stock were exchanged, compared to its average volume of 2,397,248. The company has a quick ratio of 0.42, a current ratio of 0.66 and a debt-to-equity ratio of 1.55. The firm has a fifty day moving average of $121.42 and a two-hundred day moving average of $119.16. The stock has a market cap of $94.84 billion, a price-to-earnings ratio of 19.83, a P/E/G ratio of 2.94 and a beta of 0.39. Duke Energy Corporation has a twelve month low of $105.20 and a twelve month high of $127.85.

Duke Energy (NYSE:DUK - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.04). The firm had revenue of $7.51 billion for the quarter, compared to the consensus estimate of $7.07 billion. Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.Duke Energy's quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.18 earnings per share. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. On average, sell-side analysts forecast that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be issued a dividend of $1.065 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.26 annualized dividend and a dividend yield of 3.5%. This is an increase from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's payout ratio is currently 69.27%.

Insider Buying and Selling at Duke Energy

In other Duke Energy news, SVP Bonnie B. Titone sold 2,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total value of $248,760.00. Following the completion of the sale, the senior vice president directly owned 19,608 shares of the company's stock, valued at $2,438,843.04. This represents a 9.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $124.26, for a total transaction of $832,542.00. Following the completion of the sale, the executive vice president directly owned 46,422 shares of the company's stock, valued at approximately $5,768,397.72. This trade represents a 12.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

DUK has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Duke Energy from $127.00 to $131.00 and gave the company a "neutral" rating in a research note on Thursday, August 21st. Barclays upped their price objective on shares of Duke Energy from $122.00 to $131.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. UBS Group reiterated a "neutral" rating and issued a $127.00 price objective (up previously from $124.00) on shares of Duke Energy in a research note on Friday, July 11th. Morgan Stanley reiterated an "outperform" rating on shares of Duke Energy in a research note on Thursday, August 21st. Finally, Scotiabank increased their price target on shares of Duke Energy from $120.00 to $128.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 6th. Nine analysts have rated the stock with a Buy rating and five have issued 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 target price of $130.62.

Duke Energy Profile

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.