Lockheed Martin Investment Management Co. Has $44.90 Million Holdings in Duke Energy Corporation $DUK

Lockheed Martin Investment Management Co. boosted its holdings in shares of Duke Energy Corporation (NYSE:DUK) by 39.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 383,050 shares of the utilities provider’s stock after acquiring an additional 108,420 shares during the quarter. Duke Energy accounts for approximately 1.5% of Lockheed Martin Investment Management Co.’s portfolio, making the stock its 21st largest position. Lockheed Martin Investment Management Co.’s holdings in Duke Energy were worth $44,897,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of DUK. Dorato Capital Management acquired a new position in Duke Energy during the fourth quarter worth approximately $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in Duke Energy during the third quarter worth approximately $27,000. Lodestone Wealth Management LLC acquired a new position in Duke Energy during the fourth quarter worth approximately $30,000. Mowery & Schoenfeld Wealth Management LLC increased its position in Duke Energy by 300.0% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 280 shares of the utilities provider’s stock worth $33,000 after buying an additional 210 shares during the last quarter. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of Duke Energy by 13,750.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 277 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 275 shares during the period. Institutional investors and hedge funds own 65.31% of the company’s stock.

Insider Activity at Duke Energy

In related news, CEO Harry K. Sideris sold 20,000 shares of the business’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 completion of the sale, the chief executive officer directly owned 96,102 shares in the company, valued at approximately $11,952,205.74. The trade was a 17.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Regis T. Repko sold 962 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $127.86, for a total value of $123,001.32. Following the completion of the sale, the senior vice president owned 3,896 shares of the company’s stock, valued at approximately $498,142.56. This trade represents a 19.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 24,462 shares of company stock worth $3,048,426. Company insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets reduced their price objective on Duke Energy from $139.00 to $138.00 in a report on Wednesday, May 6th. Royal Bank Of Canada reduced their price objective on Duke Energy from $143.00 to $140.00 and set a “sector perform” rating for the company in a report on Friday, January 23rd. Evercore boosted their price objective on Duke Energy from $139.00 to $140.00 in a report on Monday, May 11th. The Goldman Sachs Group boosted their price objective on Duke Energy from $141.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Finally, JPMorgan Chase & Co. reduced their price objective on Duke Energy from $139.00 to $136.00 and set a “neutral” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Duke Energy has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

Duke Energy Trading Down 2.7%

Shares of DUK stock opened at $120.98 on Friday. 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 $94.31 billion, a P/E ratio of 18.53 and a beta of 0.41. The stock has a 50 day simple moving average of $128.90 and a 200 day simple moving average of $124.06. Duke Energy Corporation has a 1 year low of $113.39 and a 1 year high of $134.49.

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. On average, research analysts predict that Duke Energy Corporation will post 6.7 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Friday, May 15th will be paid a $1.065 dividend. This represents a $4.26 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, May 15th. Duke Energy’s payout ratio is 65.24%.

More Duke Energy News

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

• Positive Sentiment: Duke Energy held a groundbreaking ceremony for its Cayuga Energy Complex, signaling continued investment in its generation and infrastructure buildout, which can support future regulated-rate growth. Duke Energy holds a groundbreaking ceremony for their Cayuga Energy Complex
• Positive Sentiment: The company reported that no toxic algae was found at the Lake Norman site after an earlier state finding, which may reduce environmental and reputational concerns. Duke Energy: No toxic algae found at Lake Norman site where state said it was
• Neutral Sentiment: DUK remains a heavily watched stock, with investor attention likely reflecting interest in its defensive utility profile and upcoming rate/regulatory developments. Duke Energy Corporation (DUK) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Reports that Duke Energy’s North Carolina rate-increase hearing was postponed could delay a key catalyst for earnings and cash-flow improvement, but the impact is still uncertain. Duke Energy rate-increase hearing postponed over missed scheduling deadline
• Neutral Sentiment: The company’s claims that a merger will save customers $2.3 billion and news about combining its two North Carolina utilities may help long-term efficiency, but investors are likely waiting to see regulatory details. Duke Energy claims merger to save customers $2.3 billion, double initial estimate
• Negative Sentiment: Questions around North Carolina policy and legal issues tied to Duke Energy’s solar plans could add uncertainty to future capital spending and regulatory approval. Shunning the sunshine? NC order for Duke Energy to hit brakes on solar raises policy, legal questions

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.