The top five institutional shareholders at Duke Energy (NYSE: DUK) know exactly what the Charlotte-based company is getting in its purchase of Progress Energy (NYSE: PGN). Thatâ¿¿s because they also are the top five institutional investors in the Raleigh utility as well. State Street Global Advisors is Progressâ¿¿ largest institutional shareholder with 25.7 million shares, good for an 8.78 percent stake, according to ownership tracking Web site Lionshares.com. That holding is valued at more than $1.1 billion. State Street also owns 57.4 million shares in Duke Energy, making it the Charlotte companyâ¿¿s second largest shareholder. Those shares are worth more than $1 billion and account for 4.3 percent of Dukeâ¿¿s outstanding shares. Franklin Advisers Inc. is the second largest holder of Progress stock with 13.2 million shares, according to Lionshares.com. It also is the No. 5 shareholder in Duke with 45.5 million shares. Franklinâ¿¿s Progress shares are worth about $580 million, while the value of its Duke shares clocks in at about $800 million. BlackRock Fund Advisors is the No. 3 shareholder in both companies and Vanguard Group Inc. is the No. 4 shareholder in both firms. Capital World Investors, the No. 5 shareholder in Progress, is the top stakeholder in Duke with 88.7 million shares worth almost $1.6 billion. The top five institutional investors own a combined 23.5 percent of Progress Energyâ¿¿s stock and nearly 22 percent of Duke. Bill Johnson, who owns 236,580 shares of Progress stock, is the largest insider shareholder at Progress. Those shares were worth $10.35 million in early afternoon trading based on a stock price of $43.75. The merger deal valued Progressâ¿¿ shares at $46.48. According to the terms of the deal, Johnson will receive 2.6125 shares of common stock of Duke Energy for every share of Progress that he owns. That means Johnson would own 618,065 shares in the combined company. As of early afternoon trading, when Dukeâ¿¿s stock was trading at $17.49, those shares would be worth about $10.8 million.