Capital Investment Counsel LLC Invests $6.17 Million in Duke Energy Corporation $DUK

Capital Investment Counsel LLC purchased a new position in Duke Energy Corporation (NYSE:DUK) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 47,089 shares of the utilities provider’s stock, valued at approximately $6,166,000.

A number of other hedge funds have also recently bought and sold shares of the business. SJS Investment Consulting Inc. increased its holdings in Duke Energy by 19.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 949 shares of the utilities provider’s stock worth $124,000 after purchasing an additional 153 shares during the last quarter. Forum Financial Management LP boosted its stake in shares of Duke Energy by 27.2% during the 1st quarter. Forum Financial Management LP now owns 4,596 shares of the utilities provider’s stock valued at $602,000 after buying an additional 982 shares during the last quarter. Simmons Bank boosted its stake in shares of Duke Energy by 7.5% during the 1st quarter. Simmons Bank now owns 36,141 shares of the utilities provider’s stock valued at $4,732,000 after buying an additional 2,512 shares during the last quarter. Fairway Wealth LLC grew its position in shares of Duke Energy by 2,556.0% during the first quarter. Fairway Wealth LLC now owns 664 shares of the utilities provider’s stock worth $87,000 after buying an additional 639 shares in the last quarter. Finally, Bigelow Investment Advisors LLC increased its stake in shares of Duke Energy by 2.2% in the first quarter. Bigelow Investment Advisors LLC now owns 7,532 shares of the utilities provider’s stock worth $986,000 after buying an additional 159 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Trading Down 0.1%

Duke Energy stock opened at $128.28 on Tuesday. Duke Energy Corporation has a 1 year low of $113.89 and a 1 year high of $134.49. The firm’s 50-day moving average is $124.97 and its 200-day moving average is $124.48. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.44 and a current ratio of 0.66. The company has a market cap of $100.00 billion, a P/E ratio of 19.64 and a beta of 0.39.

Duke Energy (NYSE:DUK) last released its quarterly earnings data 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. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the prior year, the business earned $1.76 earnings per share. Duke Energy’s quarterly revenue was up 11.3% on a year-over-year basis. On average, equities analysts expect that Duke Energy Corporation will post 6.71 earnings per share for the current year.

Duke Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th were given a dividend of $1.065 per share. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, May 15th. Duke Energy’s dividend payout ratio is presently 65.24%.

Insider Buying and Selling

In related news, CEO Harry K. Sideris sold 20,000 shares of the firm’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 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 document filed with the SEC, which is accessible through this hyperlink. 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 value of $438,025.00. Following the transaction, the chief executive officer owned 21,415 shares of the company’s stock, valued at $2,680,087.25. This represents a 14.05% decrease in their position. The SEC filing for this sale provides additional information. 0.12% of the stock is currently owned by corporate insiders.

Duke Energy News Roundup

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

• Positive Sentiment: Duke Energy reached a settlement to terminate its North Carolina offshore wind lease and may redirect roughly $129 million into new generating capacity and grid modernization, including possible nuclear and natural gas investments, which investors may view as a better use of capital than a delayed wind project. Reuters: Duke Energy to terminate North Carolina offshore wind lease
• Positive Sentiment: A Zacks note highlighted Duke Energy’s $103 billion investment plan, pointing to grid upgrades, new generation, and rising power demand as drivers of multi-year earnings and dividend growth. Zacks: Can Duke Energy’s Investment Plan Deliver Years of Earnings Growth?
• Positive Sentiment: Morgan Stanley reportedly raised its price target on Duke Energy, reinforcing a more bullish outlook from analysts. Yahoo Finance: Morgan Stanley Lifts Price Target on Duke Energy (DUK). Here is Why
• Neutral Sentiment: Duke Energy launched AI-powered Bill Insights and summer energy-saving tips for customers, a customer-service initiative that is unlikely to materially affect near-term earnings but could support utility usage management during peak demand. PR Newswire: New this summer: An easier way to understand your energy bill
• Neutral Sentiment: Severe weather and heat-wave headlines noted outages and conservation requests in Duke Energy’s service areas, but these appear to be near-term operational issues rather than a fundamental change in the company’s outlook. MSN: Over 1,000 Duke Energy customers without power in New Hanover County
• Negative Sentiment: Duke Energy trimmed its North Carolina rate-hike request from 18% to 11.6%, which may ease customer backlash but could also reduce upside from the company’s regulatory ask. MSN: Duke Energy cuts North Carolina rate hike request from 18% to 11.6%

Wall Street Analysts Forecast Growth

DUK has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Duke Energy in a report on Monday, May 4th. Evercore boosted their target price on shares of Duke Energy from $139.00 to $140.00 in a research report on Monday, May 11th. BMO Capital Markets cut their target price on shares of Duke Energy from $139.00 to $138.00 in a research note on Wednesday, May 6th. JPMorgan Chase & Co. reduced their price target on shares of Duke Energy from $139.00 to $136.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Finally, Mizuho decreased their price target on Duke Energy from $139.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, June 18th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $138.33.

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.