Ameritas Advisory Services LLC Cuts Stake in Duke Energy Corporation $DUK

Key Points

• Ameritas Advisory Services LLC reduced its stake in Duke Energy by 14.1% during the second quarter, now owning 16,667 shares valued at approximately $1.97 million.
• Duke Energy's quarterly earnings fell short of analysts' expectations, reporting $1.25 EPS, compared to the consensus estimate of $1.29 EPS, despite a 4.7% year-over-year revenue increase to $7.51 billion.
• The company has recently raised its quarterly dividend from $1.05 to $1.065 per share, reflecting a dividend yield of 3.4% and a payout ratio of 69.27%.

Ameritas Advisory Services LLC lowered its stake in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 14.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,667 shares of the utilities provider's stock after selling 2,732 shares during the period. Ameritas Advisory Services LLC's holdings in Duke Energy were worth $1,967,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Duke Energy by 16.6% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 26,373 shares of the utilities provider's stock worth $3,112,000 after purchasing an additional 3,764 shares in the last quarter. Hudson Edge Investment Partners Inc. increased its stake in shares of Duke Energy by 2.5% during the second quarter. Hudson Edge Investment Partners Inc. now owns 53,070 shares of the utilities provider's stock worth $6,262,000 after purchasing an additional 1,294 shares in the last quarter. Abacus Planning Group Inc. increased its stake in shares of Duke Energy by 3.6% during the second quarter. Abacus Planning Group Inc. now owns 9,719 shares of the utilities provider's stock worth $1,147,000 after purchasing an additional 338 shares in the last quarter. Crews Bank & Trust increased its stake in shares of Duke Energy by 2.9% during the second quarter. Crews Bank & Trust now owns 5,033 shares of the utilities provider's stock worth $594,000 after purchasing an additional 140 shares in the last quarter. Finally, Hilltop National Bank purchased a new stake in shares of Duke Energy during the second quarter worth about $252,000. Hedge funds and other institutional investors own 65.31% of the company's stock.

Duke Energy Trading Up 1.7%

Shares of NYSE:DUK opened at $123.58 on Friday. Duke Energy Corporation has a 52 week low of $105.20 and a 52 week high of $127.85. The company's 50 day moving average is $122.58 and its two-hundred day moving average is $119.61. The company has a current ratio of 0.66, a quick ratio of 0.42 and a debt-to-equity ratio of 1.55. The company has a market cap of $96.10 billion, a PE ratio of 20.09, a P/E/G ratio of 2.93 and a beta of 0.44.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $1.25 EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $7.07 billion. During the same period in the prior year, the company posted $1.18 earnings per share. The company's revenue for the quarter was up 4.7% on a year-over-year basis. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. Equities analysts predict that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th were given a $1.065 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. This is a boost from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's payout ratio is currently 69.27%.

Analysts Set New Price Targets

Several analysts recently issued reports on DUK shares. Jefferies Financial Group cut shares of Duke Energy from a "buy" rating to a "hold" rating and dropped their price objective for the company from $141.00 to $134.00 in a research note on Friday, September 26th. JPMorgan Chase & Co. upped their price objective on shares of Duke Energy from $127.00 to $131.00 and gave the company a "neutral" rating in a research note on Thursday, August 21st. Raymond James Financial assumed coverage on shares of Duke Energy in a research note on Friday, June 13th. They set a "market perform" rating for the company. Scotiabank set a $137.00 price objective on shares of Duke Energy and gave the stock a "sector outperform" rating in a report on Friday. Finally, Morgan Stanley reduced their target price on shares of Duke Energy from $129.00 to $127.00 and set an "equal weight" rating on the stock in a report on Thursday, September 25th. Nine investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $132.25.

Insider Buying and Selling

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

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.

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