Duke Energy Corporation $DUK Shares Sold by Drake & Associates LLC

Drake & Associates LLC cut its stake in Duke Energy Corporation (NYSE:DUK) by 26.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,404 shares of the utilities provider’s stock after selling 6,391 shares during the quarter. Duke Energy comprises about 0.4% of Drake & Associates LLC’s investment portfolio, making the stock its 27th biggest position. Drake & Associates LLC’s holdings in Duke Energy were worth $2,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of DUK. Basso Capital Management L.P. acquired a new stake in shares of Duke Energy in the fourth quarter valued at about $25,000. Dorato Capital Management acquired a new position in Duke Energy during the 4th quarter worth approximately $26,000. Evolution Wealth Management Inc. lifted its position in Duke Energy by 1,111.1% during the 4th quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. KERR FINANCIAL PLANNING Corp purchased a new position in Duke Energy in the 3rd quarter worth approximately $27,000. Finally, Triumph Capital Management boosted its holdings in Duke Energy by 68.6% in the 4th quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 94 shares during the period. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Stock Performance

Shares of DUK opened at $123.84 on Friday. The firm has a market cap of $96.55 billion, a price-to-earnings ratio of 18.97 and a beta of 0.39. The company has a quick ratio of 0.44, a current ratio of 0.66 and a debt-to-equity ratio of 1.45. The business’s 50 day moving average is $125.59 and its two-hundred day moving average is $124.06. Duke Energy Corporation has a 52-week low of $113.89 and a 52-week high of $134.49.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.06. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the firm earned $1.76 earnings per share. The business’s revenue was up 11.3% compared to the same quarter last year. Analysts forecast that Duke Energy Corporation will post 6.71 EPS for the current fiscal year.

Duke Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Friday, May 15th were issued a $1.065 dividend. This represents a $4.26 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, May 15th. Duke Energy’s payout ratio is currently 65.24%.

Insider Activity at Duke Energy

In other Duke Energy news, CEO Louis E. Renjel sold 3,500 shares of the 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. This trade represents a 14.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Harry K. Sideris sold 20,000 shares of Duke Energy 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 completion of the transaction, the chief executive officer owned 96,102 shares of the company’s stock, valued at approximately $11,952,205.74. The trade was a 17.23% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.12% of the company’s stock.

Trending Headlines about Duke Energy

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on DUK shares. BTIG Research reiterated a “buy” rating and set a $139.00 price objective on shares of Duke Energy in a research note on Tuesday, June 2nd. Morgan Stanley decreased their target price on shares of Duke Energy from $141.00 to $132.00 in a research note on Thursday, May 21st. Truist Financial dropped their price target on shares of Duke Energy from $142.00 to $137.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Jefferies Financial Group cut their price objective on shares of Duke Energy from $143.00 to $138.00 in a report on Monday, May 11th. Finally, UBS Group decreased their price objective on shares of Duke Energy from $137.00 to $135.00 in a research report on Monday, May 11th. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $138.07.

Duke Energy Profile

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.