Hamel Associates Inc. Acquires 5,446 Shares of Duke Energy Corporation $DUK

Hamel Associates Inc. boosted its holdings in shares of Duke Energy Corporation (NYSE:DUK) by 20.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,085 shares of the utilities provider’s stock after buying an additional 5,446 shares during the quarter. Hamel Associates Inc.’s holdings in Duke Energy were worth $4,201,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of DUK. Brighton Jones LLC boosted its position in Duke Energy by 11.6% during the fourth quarter. Brighton Jones LLC now owns 6,754 shares of the utilities provider’s stock worth $728,000 after purchasing an additional 700 shares during the period. Empowered Funds LLC raised its position in shares of Duke Energy by 19.6% in the first quarter. Empowered Funds LLC now owns 23,162 shares of the utilities provider’s stock valued at $2,825,000 after purchasing an additional 3,797 shares during the period. Schnieders Capital Management LLC. raised its position in shares of Duke Energy by 1.0% in the second quarter. Schnieders Capital Management LLC. now owns 31,238 shares of the utilities provider’s stock valued at $3,686,000 after purchasing an additional 315 shares during the period. AXA S.A. lifted its stake in shares of Duke Energy by 523.4% during the 2nd quarter. AXA S.A. now owns 42,233 shares of the utilities provider’s stock worth $4,983,000 after buying an additional 35,458 shares during the last quarter. Finally, Nebula Research & Development LLC bought a new stake in shares of Duke Energy during the 2nd quarter worth about $954,000. Institutional investors own 65.31% of the company’s stock.

Insider Transactions at Duke Energy

In other Duke Energy news, CEO Harry K. Sideris sold 20,000 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the sale, the chief executive officer directly 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 SEC, which is available at the SEC website. Also, CEO Louis E. Renjel sold 3,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 21,415 shares of the company’s stock, valued at $2,680,087.25. The trade was a 14.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.12% of the company’s stock.

Key Headlines Impacting Duke Energy

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

• Positive Sentiment: Truist raised its price target on Duke Energy to $138 and reiterated a Buy rating, signaling confidence in the utility’s earnings outlook and suggesting meaningful upside from current levels. Benzinga report on Truist rating update
• Positive Sentiment: JPMorgan also lifted its price target to $141, even while keeping a Neutral rating, which still reflects expectations for solid longer-term value creation. Benzinga report on JPMorgan target increase
• Positive Sentiment: Recent commentary highlighted Duke Energy as one of the utilities best positioned for long-term growth thanks to its strong customer base and large capital expenditure program, with analysts pointing to contracted load and new demand from data centers as supportive of future earnings. Seeking Alpha article
• Neutral Sentiment: Duke Energy is expected to report second-quarter results next month, and analysts are looking for a modest earnings increase, keeping attention on whether the company can deliver on its growth plans. Barchart article
• Neutral Sentiment: Local coverage suggests Clearwater may renew its long-term electricity contract with Duke Energy, which would help preserve customer relationships and support revenue stability. Yahoo Finance article
• Negative Sentiment: North Carolina’s attorney general is challenging proposed Duke Energy Progress rate increases, adding another regulatory hurdle that could limit future pricing power and earnings growth. MSN article
• Negative Sentiment: Additional reports say AG Jeff Jackson is seeking to block nearly $1 billion in Duke Energy rate hikes over the next two years, reinforcing investor concerns about regulatory pushback on returns. Yahoo News article

Duke Energy Stock Up 0.0%

Shares of DUK opened at $125.04 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. Duke Energy Corporation has a 12 month low of $113.89 and a 12 month high of $134.49. The firm’s 50 day moving average is $124.89 and its 200-day moving average is $125.48. The stock has a market capitalization of $97.48 billion, a PE ratio of 19.15, a P/E/G ratio of 2.75 and a beta of 0.38.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.06. The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.76 earnings per share. Equities research analysts forecast that Duke Energy Corporation will post 6.72 EPS for the current year.

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be given a dividend of $1.085 per share. 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%. The ex-dividend date of this dividend is Friday, August 14th. Duke Energy’s dividend payout ratio (DPR) is currently 65.24%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Duke Energy from $136.00 to $141.00 and gave the company a “neutral” rating in a report on Thursday. Jefferies Financial Group reduced their price objective on Duke Energy from $143.00 to $138.00 in a report on Monday, May 11th. Capitol Sec Mgt lowered Duke Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. BMO Capital Markets dropped their price target on Duke Energy from $139.00 to $138.00 in a report on Wednesday, May 6th. Finally, Wells Fargo & Company boosted their price target on Duke Energy from $135.00 to $136.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $138.73.

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.