Vestcor Inc Grows Holdings in Duke Energy Corporation $DUK

Key Points

• Vestcor Inc increased its stake in Duke Energy by 8.8% in Q3, now owning 145,188 shares worth about $17.97 million.
• Duke Energy declared a quarterly dividend of $1.065 per share (annualized $4.26), representing a ~3.2% yield with record date Feb 13 and payable Mar 16.
• The company slightly beat quarterly expectations with $1.50 EPS versus a $1.49 consensus and $7.94B revenue, while analysts carry a consensus "Hold" rating and a $136.87 price target.

Vestcor Inc grew its holdings in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 8.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 145,188 shares of the utilities provider's stock after purchasing an additional 11,693 shares during the quarter. Vestcor Inc's holdings in Duke Energy were worth $17,967,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of DUK. Legacy Investment Solutions LLC purchased a new stake in shares of Duke Energy in the second quarter valued at approximately $28,000. Bare Financial Services Inc lifted its position in Duke Energy by 211.1% during the third quarter. Bare Financial Services Inc now owns 280 shares of the utilities provider's stock worth $35,000 after buying an additional 190 shares in the last quarter. Anfield Capital Management LLC boosted its stake in Duke Energy by 2,608.3% during the second quarter. Anfield Capital Management LLC now owns 325 shares of the utilities provider's stock worth $38,000 after buying an additional 313 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Duke Energy in the 3rd quarter valued at $39,000. Finally, Total Investment Management Inc. acquired a new stake in shares of Duke Energy in the 2nd quarter worth $46,000. Hedge funds and other institutional investors own 65.31% of the company's stock.

Duke Energy Stock Performance

Shares of DUK stock opened at $132.53 on Monday. Duke Energy Corporation has a one year low of $111.22 and a one year high of $132.65. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.33 and a current ratio of 0.55. The firm's 50 day moving average price is $122.58 and its 200-day moving average price is $122.36. The firm has a market cap of $103.06 billion, a P/E ratio of 20.97, a P/E/G ratio of 2.88 and a beta of 0.50.

Duke Energy (NYSE:DUK - Get Free Report) last released its earnings results on Monday, February 9th. The utilities provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.01. Duke Energy had a return on equity of 9.66% and a net margin of 15.41%.The company had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $7.57 billion. During the same period in the previous year, the company posted $1.66 EPS. As a group, equities research analysts predict that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 13th will be given a dividend of $1.065 per share. This represents a $4.26 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, February 13th. Duke Energy's payout ratio is 67.41%.

Insiders Place Their Bets

In other news, CEO Louis E. Renjel sold 6,800 shares of the company's stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $127.67, for a total value of $868,156.00. Following the completion of the transaction, the chief executive officer owned 22,007 shares in the company, valued at approximately $2,809,633.69. This represents a 23.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Regis T. Repko sold 962 shares of Duke Energy stock in a transaction 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 sale, the senior vice president owned 3,896 shares in the company, valued at $498,142.56. This represents a 19.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DUK shares. Barclays lowered their price target on shares of Duke Energy from $135.00 to $127.00 and set an "overweight" rating on the stock in a research report on Thursday, January 15th. BMO Capital Markets reaffirmed an "outperform" rating and set a $136.00 target price on shares of Duke Energy in a research note on Wednesday, February 11th. Jefferies Financial Group increased their price target on shares of Duke Energy from $125.00 to $141.00 and gave the company a "hold" rating in a research note on Tuesday, February 17th. BTIG Research reaffirmed a "buy" rating and set a $141.00 price target on shares of Duke Energy in a research report on Friday, January 30th. Finally, UBS Group decreased their price objective on Duke Energy from $135.00 to $126.00 and set a "neutral" rating on the stock in a report on Wednesday, December 17th. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $136.87.

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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