Barclays PLC Lowers Stake in Duke Energy Corporation $DUK

Key Points

• Barclays PLC cut its stake in Duke Energy by 85% in the fourth quarter, selling more than 11.7 million shares and leaving it with 2.08 million shares worth about $243.5 million.
• Duke Energy reported better-than-expected earnings for the latest quarter, posting EPS of $1.93 versus $1.87 expected and revenue of $9.18 billion versus $8.44 billion expected, with revenue up 11.3% year over year.
• The company announced a quarterly dividend of $1.065 per share, implying an annualized payout of $4.26 and a yield of about 3.4%; analysts currently rate the stock a “Moderate Buy” on average.

Barclays PLC reduced its position in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 85.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,077,591 shares of the utilities provider's stock after selling 11,776,033 shares during the quarter. Barclays PLC owned 0.27% of Duke Energy worth $243,514,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of DUK. Dorato Capital Management purchased a new stake in shares of Duke Energy during the 4th quarter worth about $26,000. Evolution Wealth Management Inc. boosted its stake in shares of 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 stake in shares of Duke Energy during the 3rd quarter worth about $27,000. Triumph Capital Management boosted its stake in shares of Duke Energy by 68.6% during 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 in the last quarter. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Duke Energy during the 4th quarter worth about $30,000. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Stock Performance

Duke Energy stock opened at $124.91 on Monday. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.66 and a quick ratio of 0.44. The stock has a market cap of $97.38 billion, a price-to-earnings ratio of 19.13 and a beta of 0.39. The firm has a 50 day simple moving average of $126.16 and a 200-day simple moving average of $124.02. Duke Energy Corporation has a 1-year low of $113.66 and a 1-year high of $134.49.

Duke Energy (NYSE:DUK - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.87 by $0.06. The firm had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The firm's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company posted $1.76 EPS. On average, analysts expect that Duke Energy Corporation will post 6.71 EPS for the current year.

Duke Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th will be given a $1.065 dividend. This represents a $4.26 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, May 15th. Duke Energy's dividend payout ratio (DPR) is currently 65.24%.

Insider Activity at Duke Energy

In other Duke Energy news, CEO Harry K. Sideris sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The shares were 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 $11,952,205.74. This trade represents a 17.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Louis E. Renjel sold 3,500 shares of the firm'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 completion of the transaction, the chief executive officer directly owned 21,415 shares of the company's stock, valued at $2,680,087.25. This represents a 14.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.12% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DUK shares. JPMorgan Chase & Co. lowered their target price on shares of Duke Energy from $139.00 to $136.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 13th. Weiss Ratings restated a "buy (b)" rating on shares of Duke Energy in a research report on Monday, May 4th. Jefferies Financial Group reduced their price target on shares of Duke Energy from $143.00 to $138.00 in a research report on Monday, May 11th. Mizuho upped their price target on shares of Duke Energy from $130.00 to $139.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Duke Energy from a "sell" rating to a "hold" rating in a research report on Saturday, March 28th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.93.

Key Duke Energy News

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

• Positive Sentiment: Analysts and market commentary are highlighting Duke Energy as a defensive, low-volatility utility pick as inflation jumps and oil prices surge, which can draw investors toward stable dividend names like DUK. 3 Low-Beta Utility Stocks to Buy as Inflation Jumps to Three-Year High
• Positive Sentiment: A Seeking Alpha piece argues Duke Energy could keep rising, reinforcing bullish sentiment around the company’s earnings outlook, utility stability, and rate-driven growth profile. Duke Energy: Why This Utility Could Keep Rising
• Positive Sentiment: Duke Energy received up to $96 million in federal coal plant grants, which could help offset refurbishment costs and support grid reliability without passing as much expense to customers. How Investors Are Reacting To Duke Energy (DUK) Winning US$96 Million In Federal Coal Plant Grants
• Positive Sentiment: Brokerage coverage remains constructive, with Duke Energy carrying an average “Moderate Buy” recommendation. Duke Energy Corporation NYSE: DUK Given Average Recommendation of "Moderate Buy" by Brokerages

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.

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