1832 Asset Management L.P. Sells 6,998 Shares of Duke Energy Corporation $DUK

Key Points

• 1832 Asset Management L.P. reduced its stake in Duke Energy Corporation by 27.8%, now holding 18,207 shares valued at approximately $2.22 million.
• Duke Energy announced a quarterly dividend of $1.065 to be paid on September 16, reflecting a positive increase from the previous dividend of $1.05.
• The company's recent earnings report showed an EPS of $1.25, slightly below the consensus estimate of $1.29, but a revenue increase of 4.7% year-over-year.

1832 Asset Management L.P. decreased its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 27.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,207 shares of the utilities provider's stock after selling 6,998 shares during the quarter. 1832 Asset Management L.P.'s holdings in Duke Energy were worth $2,221,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Duke Energy by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider's stock valued at $9,094,327,000 after acquiring an additional 1,676,061 shares in the last quarter. GQG Partners LLC grew its holdings in shares of Duke Energy by 17,880.0% in the 1st quarter. GQG Partners LLC now owns 10,249,508 shares of the utilities provider's stock valued at $1,250,133,000 after acquiring an additional 10,192,503 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Duke Energy by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,656,244 shares of the utilities provider's stock valued at $1,055,087,000 after acquiring an additional 93,699 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Duke Energy by 4.4% in the 4th quarter. Royal Bank of Canada now owns 8,503,503 shares of the utilities provider's stock valued at $916,168,000 after acquiring an additional 357,967 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Duke Energy by 1.9% in the 1st quarter. Northern Trust Corp now owns 8,153,615 shares of the utilities provider's stock valued at $994,496,000 after acquiring an additional 152,542 shares in the last quarter. Institutional investors own 65.31% of the company's stock.

Insider Activity at Duke Energy

In other Duke Energy news, SVP Bonnie B. Titone sold 2,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $124.38, for a total transaction of $248,760.00. Following the transaction, the senior vice president owned 19,608 shares in the company, valued at $2,438,843.04. This trade represents a 9.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $124.26, for a total value of $832,542.00. Following the transaction, the executive vice president owned 46,422 shares in the company, valued at approximately $5,768,397.72. This trade represents a 12.61% decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Duke Energy Stock Performance

Shares of Duke Energy stock traded down $1.18 on Thursday, hitting $122.50. The stock had a trading volume of 2,496,426 shares, compared to its average volume of 3,436,299. Duke Energy Corporation has a twelve month low of $105.20 and a twelve month high of $127.85. The business's 50 day moving average is $120.45 and its two-hundred day moving average is $118.59. The company has a quick ratio of 0.42, a current ratio of 0.66 and a debt-to-equity ratio of 1.55. The stock has a market cap of $95.26 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 2.98 and a beta of 0.36.

Duke Energy (NYSE:DUK - Get Free Report) last posted its earnings results on Tuesday, August 5th. The utilities provider reported $1.25 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.04). Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. The firm had revenue of $7.51 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same period in the previous year, the company posted $1.18 EPS. Duke Energy's revenue for the quarter was up 4.7% compared to the same quarter last year. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. Analysts forecast that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be given a $1.065 dividend. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Duke Energy's previous quarterly dividend of $1.05. This represents a $4.26 annualized dividend and a dividend yield of 3.5%. Duke Energy's dividend payout ratio (DPR) is currently 69.27%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. BMO Capital Markets raised their price objective on Duke Energy from $131.00 to $132.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Barclays lifted their price target on Duke Energy from $122.00 to $131.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Citigroup lifted their price target on Duke Energy from $130.00 to $142.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Morgan Stanley reiterated an "outperform" rating on shares of Duke Energy in a report on Thursday, August 21st. Finally, Wells Fargo & Company lifted their price target on Duke Energy from $127.00 to $138.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $130.07.

Duke Energy Company Profile

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.