Corundum Group Inc. Has $1.41 Million Holdings in Duke Energy Corporation $DUK

Corundum Group Inc. increased its holdings in Duke Energy Corporation (NYSE:DUK) by 172.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,767 shares of the utilities provider’s stock after purchasing an additional 6,822 shares during the period. Corundum Group Inc.’s holdings in Duke Energy were worth $1,410,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Basso Capital Management L.P. acquired a new stake in shares of Duke Energy in the fourth quarter worth about $25,000. Dorato Capital Management bought a new position in shares of Duke Energy in the 4th quarter valued at approximately $26,000. Evolution Wealth Management Inc. raised its stake in shares of Duke Energy by 1,111.1% in the 4th quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. KERR FINANCIAL PLANNING Corp acquired a new stake in Duke Energy in the 3rd quarter worth approximately $27,000. Finally, Triumph Capital Management lifted its holdings in Duke Energy by 68.6% in the 4th quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 94 shares during the last quarter. 65.31% of the stock is currently owned by institutional investors.

Insider Transactions 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 transaction, the chief executive officer directly 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Harry K. Sideris sold 20,000 shares of the business’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 completion of the sale, the chief executive officer directly owned 96,102 shares in the company, valued at approximately $11,952,205.74. This represents a 17.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on DUK shares. Mizuho lowered their price target on Duke Energy from $139.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, June 18th. Evercore boosted their price objective on shares of Duke Energy from $139.00 to $140.00 in a research note on Monday, May 11th. Capitol Sec Mgt downgraded shares of Duke Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Wells Fargo & Company raised their target price on shares of Duke Energy from $135.00 to $136.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Finally, UBS Group cut their target price on shares of Duke Energy from $137.00 to $135.00 in a research report on Monday, May 11th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Duke Energy has an average rating of “Moderate Buy” and an average target price of $138.33.

Key Headlines Impacting Duke Energy

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

• Positive Sentiment: Morgan Stanley raised its price target on Duke Energy to $136 from $132, signaling about 8.7% upside from recent trading levels and reinforcing a constructive view on the utility. Morgan Stanley adjusts price target on Duke Energy to 136 from 132, maintains Equal Weight rating
• Positive Sentiment: Two articles highlighted Duke Energy as one of the better S&P 500 dividend stocks, pointing to its 3.41% annual dividend yield and defensive utility profile, which may appeal to income-focused investors. Is Duke Energy (DUK) One of the Best S&P 500 Stocks to Buy for Dividends?
• Positive Sentiment: Duke Energy Foundation announced more than $550,000 in America250 grants in South Carolina and North Carolina, a modest positive for sentiment and brand image but not a major financial driver. Duke Energy Foundation completes more than $550,000 in grants

Duke Energy Stock Performance

DUK opened at $126.33 on Thursday. The stock’s 50 day simple moving average is $125.03 and its 200-day simple moving average is $124.22. 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 cap of $98.49 billion, a PE ratio of 19.35 and a beta of 0.39. Duke Energy Corporation has a 1 year low of $113.89 and a 1 year high of $134.49.

Duke Energy (NYSE:DUK) last issued its 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. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The firm had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same period last year, the business earned $1.76 earnings per share. Duke Energy’s quarterly revenue was up 11.3% compared to the same quarter last year. Sell-side analysts forecast that Duke Energy Corporation will post 6.71 EPS for the current year.

Duke Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Friday, May 15th were given a $1.065 dividend. This represents a $4.26 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, May 15th. Duke Energy’s dividend payout ratio is 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.