Magellan Asset Management Ltd Raises Stock Holdings in Duke Energy Corporation $DUK

Magellan Asset Management Ltd lifted its stake in shares of Duke Energy Corporation (NYSE:DUK) by 19.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 402,505 shares of the utilities provider’s stock after acquiring an additional 66,226 shares during the period. Magellan Asset Management Ltd owned 0.05% of Duke Energy worth $52,704,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DUK. Basso Capital Management L.P. acquired a new stake in shares of Duke Energy during the 4th quarter worth about $25,000. Dorato Capital Management acquired a new position in shares of Duke Energy in the fourth quarter valued at approximately $26,000. Evolution Wealth Management Inc. lifted its stake in shares of Duke Energy by 1,111.1% during the fourth quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock valued at $26,000 after buying an additional 200 shares during the period. Triumph Capital Management boosted its position in Duke Energy by 68.6% during the fourth quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 94 shares during the last quarter. Finally, Cornerstone Financial Management LLC acquired a new stake in Duke Energy during the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Key Stories Impacting Duke Energy

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

• Positive Sentiment: Duke Energy announced or was highlighted alongside a dividend increase, reinforcing its appeal as a reliable income stock and supporting the case for long-term utility earnings growth tied to data center demand. Industrial and Utility Giants Boost Dividends as Data Center Tailwinds Build (DUK)
• Positive Sentiment: The company reached a North Carolina rate settlement that cuts the proposed increase by more than half, which could reduce regulatory friction and improve the odds of eventual approval versus the original request. Duke Energy reaches deal to cut North Carolina rate hike by over half
• Neutral Sentiment: Analysts remain constructive overall, but BMO Capital Markets trimmed its price target to $134 from $138 while keeping an outperform rating, suggesting modest upside despite a slightly softer near-term valuation view. Benzinga report on BMO price target cut
• Neutral Sentiment: Industry commentary continues to point to long-term utility tailwinds from grid investment and rising power demand, especially from data centers, which supports the broader investment case for Duke Energy. Zacks Industry Outlook Highlights NextEra Energy, Duke Energy, American Electric Power and Ameren
• Negative Sentiment: North Carolina’s attorney general rejected the settlement and said even the reduced rate increase is still too high, raising the risk of more pushback and potentially slowing or complicating Duke’s ability to pass through higher costs to customers. NC AG rejects Duke Energy rate settlement; residential bills could rise 9.5%

Wall Street Analyst Weigh In

Several research analysts have weighed in on DUK shares. Mizuho cut their price target on Duke Energy from $139.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, June 18th. Evercore raised their price objective on Duke Energy from $139.00 to $140.00 in a report on Monday, May 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Duke Energy in a research note on Monday, May 4th. Truist Financial raised their price target on Duke Energy from $137.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. Finally, Morgan Stanley increased their price objective on shares of Duke Energy from $132.00 to $136.00 in a report on Wednesday, June 24th. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $138.47.

Insider Buying and Selling

In other news, CEO Harry K. Sideris sold 20,000 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $124.37, for a total value of $2,487,400.00. Following the transaction, the chief executive officer owned 96,102 shares of the company’s stock, valued at approximately $11,952,205.74. This trade represents a 17.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Louis E. Renjel sold 3,500 shares of Duke Energy stock in a transaction on Monday, May 11th. The shares were sold at an average price of $125.15, for a total transaction of $438,025.00. Following the transaction, the chief executive officer owned 21,415 shares in the company, valued at $2,680,087.25. The trade was a 14.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.12% of the company’s stock.

Duke Energy Price Performance

Shares of Duke Energy stock opened at $125.77 on Wednesday. The business’s fifty day moving average price is $124.92 and its 200 day moving average price is $125.59. Duke Energy Corporation has a twelve month low of $113.89 and a twelve month high of $134.49. 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 stock has a market capitalization of $98.05 billion, a P/E ratio of 19.26, a PEG ratio of 2.77 and a beta of 0.38.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results 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 company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.44 billion. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The firm’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.76 earnings per share. As a group, research analysts anticipate that Duke Energy Corporation will post 6.72 earnings per share for the current year.

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be issued a $1.085 dividend. The ex-dividend date is Friday, August 14th. This is a positive change from Duke Energy’s previous quarterly dividend of $1.06. This represents a $4.34 annualized dividend and a yield of 3.5%. Duke Energy’s payout ratio is 66.46%.

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.