Duke Energy Corporation $DUK Shares Sold by BROOKFIELD Corp ON

Key Points

• BROOKFIELD Corp ON has reduced its stake in Duke Energy by 7.4%, owning 728,028 shares worth approximately $88.8 million, making Duke Energy its 25th largest holding.
• Duke Energy reported Q2 earnings of $1.25 per share, which fell short of analysts' expectations, while revenue increased by 4.7% year-over-year to $7.51 billion.
• The company announced a dividend increase to $1.065 per share, representing an annualized yield of 3.5%, with the payment slated for September 16th.

BROOKFIELD Corp ON reduced its position in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 728,028 shares of the utilities provider's stock after selling 57,873 shares during the period. Duke Energy accounts for about 0.5% of BROOKFIELD Corp ON's portfolio, making the stock its 25th largest holding. BROOKFIELD Corp ON owned 0.09% of Duke Energy worth $88,798,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Andrew Hill Investment Advisors Inc. lifted its holdings in Duke Energy by 338.6% in the first quarter. Andrew Hill Investment Advisors Inc. now owns 37,763 shares of the utilities provider's stock valued at $4,606,000 after acquiring an additional 29,153 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Duke Energy by 7.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 291,667 shares of the utilities provider's stock valued at $35,575,000 after acquiring an additional 20,942 shares during the last quarter. Pinnacle Financial Partners Inc lifted its holdings in Duke Energy by 9.9% in the first quarter. Pinnacle Financial Partners Inc now owns 127,419 shares of the utilities provider's stock valued at $14,451,000 after acquiring an additional 11,445 shares during the last quarter. Beacon Investment Advisory Services Inc. raised its position in Duke Energy by 8.1% in the first quarter. Beacon Investment Advisory Services Inc. now owns 51,354 shares of the utilities provider's stock valued at $6,264,000 after purchasing an additional 3,837 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Duke Energy by 1.1% in the first 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 purchasing an additional 93,699 shares during the period. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Duke Energy

In other Duke Energy news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the company's 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 completion of the transaction, the executive vice president owned 46,422 shares in the company, valued at $5,768,397.72. This represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Bonnie B. Titone sold 2,000 shares of the company's 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 owned 19,608 shares of the company's stock, valued at $2,438,843.04. This represents a 9.26% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on DUK. Raymond James Financial began coverage on Duke Energy in a research report on Friday, June 13th. They issued a "market perform" rating on the stock. Barclays upped their price objective on Duke Energy from $122.00 to $131.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. UBS Group reaffirmed a "neutral" rating and set a $127.00 price objective (up previously from $124.00) on shares of Duke Energy in a research report on Friday, July 11th. JPMorgan Chase & Co. upped their price objective on Duke Energy from $127.00 to $131.00 and gave the stock a "neutral" rating in a research report on Thursday, August 21st. Finally, The Goldman Sachs Group set a $132.00 price objective on Duke Energy in a research report on Tuesday, July 1st. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $130.62.

Duke Energy Stock Down 0.1%

NYSE:DUK traded down $0.15 during trading hours on Friday, hitting $121.96. The company's stock had a trading volume of 2,136,379 shares, compared to its average volume of 2,397,248. The stock has a market capitalization of $94.84 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 2.94 and a beta of 0.39. The stock has a fifty day moving average of $121.42 and a 200-day moving average of $119.19. The company has a current ratio of 0.66, a quick ratio of 0.42 and a debt-to-equity ratio of 1.55. Duke Energy Corporation has a 52-week low of $105.20 and a 52-week high of $127.85.

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). The business had revenue of $7.51 billion during the quarter, compared to analysts' expectations of $7.07 billion. Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. The business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $1.18 EPS. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. On average, equities analysts forecast that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be paid a $1.065 dividend. This is a boost from Duke Energy's previous quarterly dividend of $1.05. This represents a $4.26 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, August 15th. Duke Energy's payout ratio is currently 69.27%.

Duke Energy 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.