Allspring Global Investments Holdings LLC Trims Stock Holdings in Duke Energy Corporation $DUK

Allspring Global Investments Holdings LLC decreased its position in Duke Energy Corporation (NYSE:DUK) by 1.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 407,080 shares of the utilities provider’s stock after selling 4,149 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Duke Energy were worth $53,287,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in Duke Energy by 11.6% in the fourth quarter. Brighton Jones LLC now owns 6,754 shares of the utilities provider’s stock valued at $728,000 after purchasing an additional 700 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Duke Energy by 19.6% in the 1st quarter. Empowered Funds LLC now owns 23,162 shares of the utilities provider’s stock valued at $2,825,000 after purchasing an additional 3,797 shares during the period. Schnieders Capital Management LLC. grew its stake in Duke Energy by 1.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 31,238 shares of the utilities provider’s stock worth $3,686,000 after buying an additional 315 shares during the last quarter. AXA S.A. raised its position in Duke Energy by 523.4% in the 2nd quarter. AXA S.A. now owns 42,233 shares of the utilities provider’s stock valued at $4,983,000 after purchasing an additional 35,458 shares during the last quarter. Finally, Nebula Research & Development LLC purchased a new stake in Duke Energy in the 2nd quarter valued at $954,000. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DUK has been the topic of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Duke Energy in a research report on Monday, May 4th. Wells Fargo & Company boosted their price target on Duke Energy from $135.00 to $136.00 and gave the company an “equal weight” rating in a research report on Monday, April 20th. Evercore lifted their target price on Duke Energy from $139.00 to $140.00 in a research note on Monday, May 11th. Jefferies Financial Group reduced their target price on shares of Duke Energy from $143.00 to $138.00 in a research note on Monday, May 11th. Finally, Truist Financial lifted their target price on shares of Duke Energy from $137.00 to $138.00 and gave the company a “buy” rating in a report on Friday. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.73.

Insider Buying and Selling at Duke Energy

In related news, CEO Louis E. Renjel sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were 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 approximately $2,680,087.25. This represents a 14.05% decrease in their ownership of the stock. The sale 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 transaction of $2,487,400.00. Following the completion of the sale, the chief executive officer directly owned 96,102 shares of the company’s stock, valued at $11,952,205.74. The trade was a 17.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is owned by corporate insiders.

Duke Energy Stock Down 0.9%

Duke Energy stock opened at $125.04 on Friday. Duke Energy Corporation has a fifty-two week low of $113.89 and a fifty-two week high of $134.49. The firm has a market capitalization of $97.48 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 2.75 and a beta of 0.38. The stock’s fifty day moving average is $124.89 and its two-hundred day moving average is $125.42. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.44 and a current ratio of 0.66.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.06. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the prior year, the firm earned $1.76 earnings per share. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. Analysts predict that Duke Energy Corporation will post 6.72 EPS for the current fiscal year.

Duke Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Friday, August 14th will be given a $1.085 dividend. This is an increase from Duke Energy’s previous quarterly dividend of $1.06. This represents a $4.34 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, August 14th. Duke Energy’s dividend payout ratio (DPR) is currently 66.46%.

More Duke Energy News

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

• Positive Sentiment: Truist raised its price target on Duke Energy to $138 and reiterated a Buy rating, signaling confidence in the utility’s earnings outlook and suggesting meaningful upside from current levels. Benzinga report on Truist rating update
• Positive Sentiment: JPMorgan also lifted its price target to $141, even while keeping a Neutral rating, which still reflects expectations for solid longer-term value creation. Benzinga report on JPMorgan target increase
• Positive Sentiment: Recent commentary highlighted Duke Energy as one of the utilities best positioned for long-term growth thanks to its strong customer base and large capital expenditure program, with analysts pointing to contracted load and new demand from data centers as supportive of future earnings. Seeking Alpha article
• Neutral Sentiment: Duke Energy is expected to report second-quarter results next month, and analysts are looking for a modest earnings increase, keeping attention on whether the company can deliver on its growth plans. Barchart article
• Neutral Sentiment: Local coverage suggests Clearwater may renew its long-term electricity contract with Duke Energy, which would help preserve customer relationships and support revenue stability. Yahoo Finance article
• Negative Sentiment: North Carolina’s attorney general is challenging proposed Duke Energy Progress rate increases, adding another regulatory hurdle that could limit future pricing power and earnings growth. MSN article
• Negative Sentiment: Additional reports say AG Jeff Jackson is seeking to block nearly $1 billion in Duke Energy rate hikes over the next two years, reinforcing investor concerns about regulatory pushback on returns. Yahoo News article

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.