Oak Grove Capital LLC Raises Stock Holdings in Duke Energy Corporation $DUK

Oak Grove Capital LLC lifted its stake in Duke Energy Corporation (NYSE:DUK) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,750 shares of the utilities provider’s stock after buying an additional 5,000 shares during the quarter. Duke Energy comprises 1.7% of Oak Grove Capital LLC’s portfolio, making the stock its 13th biggest holding. Oak Grove Capital LLC’s holdings in Duke Energy were worth $14,036,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Basso Capital Management L.P. purchased a new position in shares of Duke Energy during the 4th quarter valued at $25,000. Dorato Capital Management purchased a new stake in Duke Energy in the 4th quarter worth $26,000. Evolution Wealth Management Inc. raised its holdings in Duke Energy by 1,111.1% during the fourth 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 during the period. KERR FINANCIAL PLANNING Corp bought a new stake in Duke Energy during the third quarter valued at about $27,000. Finally, Triumph Capital Management lifted its position in shares of Duke Energy by 68.6% in the fourth quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 94 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors.

More Duke Energy News

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

• Positive Sentiment: Mizuho trimmed its price target on Duke Energy to $135 from $139, but kept an Outperform rating, still implying upside from current levels. Street Insider article
• Positive Sentiment: Investor-focused coverage highlighted Duke Energy as one of several utility stocks offering long-term passive income appeal, reinforcing the stock’s defensive, income-oriented profile. 247WallSt article
• Neutral Sentiment: Duke Energy’s safety demonstration for Pinellas County law enforcement was a routine community/outreach event, with limited direct impact on earnings or valuation. Yahoo News article
• Neutral Sentiment: Power outages and restorations in local service areas, including reports of customers temporarily without electricity, are operational headlines that may create short-term noise but do not by themselves change the investment thesis. MSN article
• Neutral Sentiment: Regulatory and local-government coverage, including a commissioner being barred from a planning vote and Clearwater’s review of Duke Energy property, adds uncertainty around future utility planning and municipal relations, but the near-term stock impact is unclear. Yahoo News article
• Negative Sentiment: Coverage noting that Duke Energy declined more than the market in the latest session may be reinforcing bearish trading momentum in the shares. Yahoo Finance article
• Negative Sentiment: A pro-coal state regulator stepping away from Duke Energy carbon plan decisions could increase uncertainty around the company’s long-term generation strategy and regulatory process. WFAE article

Duke Energy Price Performance

NYSE:DUK opened at $123.84 on Friday. The business’s 50-day moving average is $125.59 and its 200 day moving average is $124.06. Duke Energy Corporation has a 12 month low of $113.89 and a 12 month high of $134.49. The company has a market capitalization of $96.55 billion, a P/E ratio of 18.97 and a beta of 0.39. 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 (NYSE:DUK) last released its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, beating 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 business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter last year, the business posted $1.76 EPS. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities research analysts forecast that Duke Energy Corporation will post 6.71 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

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 was Friday, May 15th. Duke Energy’s payout ratio is currently 65.24%.

Insiders Place Their Bets

In other Duke Energy news, CEO Louis E. Renjel sold 3,500 shares of Duke Energy stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 21,415 shares of the company’s stock, valued at $2,680,087.25. This trade represents a 14.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Harry K. Sideris sold 20,000 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the completion of the sale, the chief executive officer owned 96,102 shares in the company, valued at approximately $11,952,205.74. This trade represents a 17.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

DUK has been the subject of several research analyst reports. Truist Financial cut their target price on Duke Energy from $142.00 to $137.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Barclays dropped their price target on Duke Energy from $143.00 to $134.00 and set an “overweight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. cut their price objective on shares of Duke Energy from $139.00 to $136.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Morgan Stanley reduced their price objective on shares of Duke Energy from $141.00 to $132.00 in a research report on Thursday, May 21st. Finally, Evercore upped their target price on shares of Duke Energy from $139.00 to $140.00 in a research report on Monday, May 11th. Nine analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Duke Energy presently has an average rating of “Moderate Buy” and an average target price of $138.07.

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.