Martingale Asset Management L P Has $16.59 Million Stock Holdings in Duke Energy Corporation $DUK

Martingale Asset Management L P lifted its position in Duke Energy Corporation (NYSE:DUK) by 42.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 141,548 shares of the utilities provider’s stock after purchasing an additional 42,426 shares during the period. Martingale Asset Management L P’s holdings in Duke Energy were worth $16,591,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Milford Funds Ltd. acquired a new stake in shares of Duke Energy in the 4th quarter valued at approximately $97,905,000. Korea Investment CORP raised its position in shares of Duke Energy by 8.9% in the 4th quarter. Korea Investment CORP now owns 686,293 shares of the utilities provider’s stock valued at $80,440,000 after acquiring an additional 56,100 shares during the period. Cohen & Steers Inc. raised its position in shares of Duke Energy by 83.3% in the 4th quarter. Cohen & Steers Inc. now owns 1,711,445 shares of the utilities provider’s stock valued at $200,598,000 after acquiring an additional 777,878 shares during the period. ROI Financial Advisors LLC raised its position in shares of Duke Energy by 7.8% in the 4th quarter. ROI Financial Advisors LLC now owns 13,567 shares of the utilities provider’s stock valued at $1,590,000 after acquiring an additional 978 shares during the period. Finally, Wealthspire Advisors LLC raised its position in shares of Duke Energy by 22.7% in the 4th quarter. Wealthspire Advisors LLC now owns 26,584 shares of the utilities provider’s stock valued at $3,116,000 after acquiring an additional 4,918 shares during the period. 65.31% of the stock is currently owned by institutional investors and hedge funds.

More Duke Energy News

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

• Positive Sentiment: Analysts and market commentary are highlighting Duke Energy as a defensive, low-volatility utility pick as inflation jumps and oil prices surge, which can draw investors toward stable dividend names like DUK. 3 Low-Beta Utility Stocks to Buy as Inflation Jumps to Three-Year High
• Positive Sentiment: A Seeking Alpha piece argues Duke Energy could keep rising, reinforcing bullish sentiment around the company’s earnings outlook, utility stability, and rate-driven growth profile. Duke Energy: Why This Utility Could Keep Rising
• Positive Sentiment: Duke Energy received up to $96 million in federal coal plant grants, which could help offset refurbishment costs and support grid reliability without passing as much expense to customers. How Investors Are Reacting To Duke Energy (DUK) Winning US$96 Million In Federal Coal Plant Grants
• Positive Sentiment: Brokerage coverage remains constructive, with Duke Energy carrying an average “Moderate Buy” recommendation. Duke Energy Corporation (NYSE:DUK) Given Average Recommendation of “Moderate Buy” by Brokerages

Insider Activity at Duke Energy

In other news, CEO Louis E. Renjel sold 3,500 shares of the stock in a transaction that occurred 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 owned 21,415 shares of the company’s stock, valued at approximately $2,680,087.25. This represents a 14.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the chief executive officer directly owned 96,102 shares of the company’s stock, valued at $11,952,205.74. This represents a 17.23% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on DUK. Wall Street Zen upgraded shares of Duke Energy from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Barclays increased their price target on shares of Duke Energy from $127.00 to $143.00 and gave the company an “overweight” rating in a research report on Tuesday, April 7th. JPMorgan Chase & Co. lowered their target price on Duke Energy from $139.00 to $136.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Morgan Stanley lowered their target price on Duke Energy from $141.00 to $132.00 in a research note on Thursday, May 21st. Finally, Truist Financial lowered their target price on Duke Energy from $142.00 to $137.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Duke Energy currently has a consensus rating of “Moderate Buy” and an average price target of $138.93.

Duke Energy Price Performance

Shares of DUK opened at $124.91 on Friday. The stock has a market capitalization of $97.38 billion, a P/E ratio of 19.13 and a beta of 0.39. Duke Energy Corporation has a twelve month low of $113.66 and a twelve month high of $134.49. The company has a 50 day moving average of $126.16 and a 200-day moving average of $124.01. 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 (NYSE:DUK) last issued its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share 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 analysts’ expectations of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the business earned $1.76 EPS. As a group, equities research analysts forecast that Duke Energy Corporation will post 6.71 EPS for the current fiscal year.

Duke Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders 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 dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, May 15th. Duke Energy’s dividend payout ratio (DPR) is currently 65.24%.

Duke Energy Company 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.