Milford Funds Ltd. Invests $97.91 Million in Duke Energy Corporation $DUK

Milford Funds Ltd. bought a new position in shares of Duke Energy Corporation (NYSE:DUK) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 835,293 shares of the utilities provider’s stock, valued at approximately $97,905,000. Duke Energy makes up 1.9% of Milford Funds Ltd.’s investment portfolio, making the stock its 18th biggest holding.

Several other institutional investors also recently modified their holdings of DUK. Vanguard Group Inc. grew its position in shares of Duke Energy by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider’s stock worth $9,172,709,000 after buying an additional 1,957,592 shares during the period. Franklin Resources Inc. grew its position in shares of Duke Energy by 13.1% during the 4th quarter. Franklin Resources Inc. now owns 8,236,893 shares of the utilities provider’s stock worth $965,446,000 after buying an additional 954,907 shares during the period. Cohen & Steers Inc. lifted its holdings in shares of Duke Energy by 83.3% during the 4th quarter. Cohen & Steers Inc. now owns 1,711,445 shares of the utilities provider’s stock valued at $200,598,000 after purchasing an additional 777,878 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new position in shares of Duke Energy during the 3rd quarter valued at about $86,309,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in shares of Duke Energy by 447.3% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 513,905 shares of the utilities provider’s stock valued at $60,235,000 after purchasing an additional 420,005 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DUK. BMO Capital Markets cut their price objective on Duke Energy from $139.00 to $138.00 in a report on Wednesday, May 6th. BTIG Research reiterated a “buy” rating and set a $139.00 price objective on shares of Duke Energy in a report on Tuesday, June 2nd. UBS Group cut their price objective on Duke Energy from $137.00 to $135.00 in a report on Monday, May 11th. Barclays lifted their price objective on Duke Energy from $127.00 to $143.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Finally, JPMorgan Chase & Co. cut their price objective on Duke Energy from $139.00 to $136.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Nine research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, Duke Energy currently has a consensus rating of “Moderate Buy” and an average target price of $138.93.

Insider Activity at Duke Energy

In other Duke Energy news, CEO Louis E. Renjel sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $125.15, for a total transaction 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. The trade was a 14.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the chief executive officer directly owned 96,102 shares in the company, valued at $11,952,205.74. This trade 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 insiders.

Duke Energy News Roundup

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

Duke Energy Trading Up 0.6%

NYSE DUK opened at $124.91 on Friday. The stock has a market capitalization of $97.38 billion, a price-to-earnings ratio of 19.13 and a beta of 0.39. The stock’s 50 day moving average price is $126.16 and its two-hundred day moving average price is $124.01. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.44 and a current ratio of 0.66. Duke Energy Corporation has a 52 week low of $113.66 and a 52 week high of $134.49.

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

Duke Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th will be given a dividend of $1.065 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $4.26 annualized dividend and a dividend yield of 3.4%. Duke Energy’s payout ratio is 65.24%.

About Duke Energy

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.