Duke Energy Corp (DUK): Not Doing Enough to Attract Smart Money

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As aggregate interest increased, key hedge funds were leading the bulls’ herd. Citadel Investment Group, managed by Ken Griffin, assembled the most outsized call position in Duke Energy Corp (NYSE:DUK). Citadel Investment Group had $9.8 million invested in the company at the end of the quarter. Matthew Tewksbury’s Stevens Capital Management also made a $2 million investment in the stock during the quarter. The other funds with new positions in the stock are John Overdeck and David Siegel’s Two Sigma Advisors, Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners, and Michael Platt and William Reeves’ BlueCrest Capital Mgmt..

Let’s go over hedge fund activity in other stocks similar to Duke Energy Corp (NYSE:DUK). We will take a look at The Bank of Nova Scotia (USA) (NYSE:BNS), Eni SpA (ADR) (NYSE:E), National Grid plc (ADR) (NYSE:NGG), and Thermo Fisher Scientific Inc. (NYSE:TMO). All of these stocks’ market caps are closest to DUK’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
BNS 14 272621 -1
E 4 24526 -2
NGG 7 344186 -2
TMO 46 2921162 -11

As you can see these stocks had an average of 17.75 hedge funds with bullish positions and the average amount invested in these stocks was $891 million. That figure was $640 million in DUK’s case. Thermo Fisher Scientific Inc. (NYSE:TMO) is the most popular stock in this table. On the other hand Eni SpA (ADR) (NYSE:E) is the least popular one with only 4 bullish hedge fund positions. Duke Energy Corp (NYSE:DUK) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds have a lot of money invested into. In this regard TMO might be a better candidate to consider a long position in.

Disclosure: None

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