The New York State Common Retirement Fund has reduced its stake in Duke Energy Corporation (NYSE:DUK) by 1.0% during the second quarter, as disclosed in its latest 13F filing with the Securities and Exchange Commission (SEC). Following this adjustment, the fund now holds 801,576 shares, having sold 8,260 shares during the quarter. At the close of the most recent reporting period, its total investment in Duke Energy was valued at approximately $94.6 million, accounting for about 0.10% of the company’s outstanding shares.
In addition to the New York State Common Retirement Fund, other institutional investors have also adjusted their positions in Duke Energy. Notably, Activest Wealth Management increased its holdings by an impressive 98.1% in the first quarter and now owns 212 shares worth $26,000 after adding 105 shares. Legacy Investment Solutions LLC entered the market by acquiring a new stake valued at about $28,000 in the second quarter. Furthermore, Mascoma Wealth Management raised its position by 53.7%, ending up with 249 shares valued at $29,000 after purchasing 87 additional shares. Financial Network Wealth Advisors LLC made a noteworthy move by increasing its stake by 360% during the first quarter, and Access Investment Management LLC also entered into Duke Energy with a significant purchase worth approximately $31,000. Collectively, institutional investors own about 65.31% of Duke Energy’s stock.
As for Duke Energy’s performance, shares opened at $123.77 recently, holding a robust market capitalization of $96.25 billion. The stock boasts a price-to-earnings ratio of 20.12 and a beta of 0.45, reflecting its relatively low volatility compared to the broader market. The company reported a fifty-two week low of $105.20 and a high of $130.03. Its recent earnings report showed an earnings per share (EPS) of $1.81, exceeding analysts’ expectations of $1.75, with revenues of $8.54 billion, slightly above the estimated $8.51 billion. This growth marks a 4.8% increase in revenue compared to the same period last year.
Duke Energy’s commitment to shareholders remains evident, as the firm has announced a quarterly dividend of $1.065, payable on December 16th to stockholders of record by November 14th. This translates into an annualized dividend of $4.26 and a yield of 3.4%, with a dividend payout ratio of 66.98%.
Recent insider trading activity includes the sale of 8,200 shares by Executive Vice President Robert Alexander Glenn at an average price of $123.80, totaling approximately $1.02 million. This transaction indicates a 41.91% reduction in his holdings.
Stock analysts are optimistic about Duke Energy, with several firms recently upgrading their ratings. Cowen initiated coverage with a “buy” rating, while BTIG Research elevated its rating to “strong-buy.” Other firms like Evercore ISI and Wells Fargo also offered positive ratings on the stock. Currently, Duke Energy holds a consensus rating of “Moderate Buy” with a price target averaging around $138.44.
Duke Energy operates as a major energy company in the U.S., primarily through its Electric Utilities and Infrastructure and Gas Utilities and Infrastructure segments, serving customers across the Carolinas, Florida, and the Midwest. The outlook remains positive for Duke Energy, given its steady performance and ongoing investor confidence.