WCG Wealth Advisors LLC Acquires 9,428 Shares of Duke Energy Corporation $DUK

Key Points

• WCG Wealth Advisors LLC boosted its Duke Energy stake by 71% in the fourth quarter, buying 9,428 additional shares and bringing its total holdings to 22,705 shares worth about $2.66 million.
• Analyst sentiment remains mixed but constructive: Duke Energy has a “Moderate Buy” consensus, with an average price target of $138.93, though several firms recently trimmed or adjusted their targets.
• Duke Energy reported solid quarterly results, with EPS of $1.93 and revenue of $9.18 billion, and also announced a quarterly dividend of $1.065 per share, implying a 3.5% yield.

WCG Wealth Advisors LLC increased its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 71.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,705 shares of the utilities provider's stock after acquiring an additional 9,428 shares during the period. WCG Wealth Advisors LLC's holdings in Duke Energy were worth $2,661,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Phillips Wealth Planners LLC lifted its holdings in shares of Duke Energy by 3.4% in the 4th quarter. Phillips Wealth Planners LLC now owns 11,185 shares of the utilities provider's stock worth $1,335,000 after acquiring an additional 373 shares during the last quarter. CIBC Asset Management Inc grew its position in Duke Energy by 23.7% in the 4th quarter. CIBC Asset Management Inc now owns 380,636 shares of the utilities provider's stock valued at $44,612,000 after acquiring an additional 72,955 shares during the last quarter. Marble Wealth LLC purchased a new stake in Duke Energy in the fourth quarter worth $1,060,000. Dover Advisors LLC lifted its position in shares of Duke Energy by 2.6% during the fourth quarter. Dover Advisors LLC now owns 21,332 shares of the utilities provider's stock worth $2,500,000 after purchasing an additional 547 shares during the last quarter. Finally, Capital Innovations LLC purchased a new stake in shares of Duke Energy during the fourth quarter valued at $2,693,000. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Duke Energy from $135.00 to $136.00 and gave the company an "equal weight" rating in a research report on Monday, April 20th. Jefferies Financial Group decreased their price target on shares of Duke Energy from $143.00 to $138.00 in a research note on Monday, May 11th. Truist Financial lowered their price target on Duke Energy from $142.00 to $137.00 and set a "buy" rating for the company in a report on Monday, May 18th. Weiss Ratings restated a "buy (b)" rating on shares of Duke Energy in a report on Monday, May 4th. Finally, Evercore lifted their target price 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 issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $138.93.

Duke Energy News Summary

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

• Positive Sentiment: Duke Energy CEO said data centers could drive power demand growth at roughly 10x the historical pace, a bullish sign for future load growth and utility earnings potential. Duke Energy CEO sees data centers sparking power growth at 10x historic pace
• Positive Sentiment: The company highlighted a $1.2 billion advanced manufacturing project in Cherokee County, underscoring Duke’s site-readiness efforts and its role in attracting large industrial customers that could support future electricity demand. Duke Energy site readiness efforts help land $1.2 billion advanced manufacturing project in Cherokee County
• Neutral Sentiment: Duke Energy Foundation announced $500,000 in grants to support small businesses in North Carolina, a positive community-relations move but not likely a major earnings driver. Duke Energy offers $500,000 to support small businesses across North Carolina
• Neutral Sentiment: BTIG cut Duke Energy’s price target by $2 but kept a Buy rating, suggesting some valuation caution without a change in the broader bullish stance. BTIG Lowers Duke Energy (DUK) Price Target by $2, Maintains ‘Buy’ Rating
• Negative Sentiment: Consumer groups and local residents are pushing back hard against Duke Energy’s proposed rate hikes in North Carolina, which could complicate regulatory approval and limit upside from higher rates. 'No rate hikes.' Protestors rally against proposed Duke Energy rate increases
• Negative Sentiment: St. Petersburg officials advanced a feasibility study to explore leaving Duke Energy for a city-owned utility, which raises the risk of customer loss if the effort gains traction. St. Pete advances feasibility study on leaving Duke Energy for city-owned utility, no final decision made

Insider Transactions at Duke Energy

In related news, CEO Harry K. Sideris sold 20,000 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer owned 96,102 shares in the company, valued at $11,952,205.74. This represents a 17.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Louis E. Renjel sold 3,500 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was 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 of the company's stock, valued at $2,680,087.25. This represents a 14.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is currently owned by corporate insiders.

Duke Energy Stock Up 0.7%

Shares of Duke Energy stock opened at $121.92 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.66 and a debt-to-equity ratio of 1.45. Duke Energy Corporation has a 52-week low of $113.66 and a 52-week high of $134.49. The company has a market cap of $95.05 billion, a P/E ratio of 18.67 and a beta of 0.39. The firm's 50 day moving average price is $126.90 and its 200-day moving average price is $123.98.

Duke Energy (NYSE:DUK - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, topping 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 business's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.76 earnings per share. On average, sell-side analysts predict 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 will be paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th will be paid a dividend of $1.065 per share. This represents a $4.26 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, May 15th. Duke Energy's payout ratio is presently 65.24%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.