California State Teachers Retirement System Decreases Holdings in Duke Energy Corporation $DUK

Key Points

• California State Teachers Retirement System cut its Duke Energy stake by 3.1% in the first quarter, selling 28,926 shares and retaining 901,695 shares worth approximately $118.1 million. Institutional investors collectively own 65.31% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $138.62, despite several firms recently lowering their targets.
• Duke Energy exceeded quarterly earnings and revenue estimates, while increasing its quarterly dividend to $1.085 per share, equivalent to a 3.4% annualized yield.

California State Teachers Retirement System lowered its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 901,695 shares of the utilities provider's stock after selling 28,926 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of Duke Energy worth $118,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Basso Capital Management L.P. bought a new position in shares of Duke Energy during the 4th quarter valued at $25,000. Dorato Capital Management bought a new stake in Duke Energy in the fourth quarter worth $26,000. Evolution Wealth Management Inc. grew its stake in shares of Duke Energy by 1,111.1% during the fourth quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider's stock valued at $26,000 after buying an additional 200 shares during the last quarter. Triumph Capital Management increased its holdings in shares of Duke Energy by 68.6% in the fourth quarter. Triumph Capital Management now owns 231 shares of the utilities provider's stock worth $27,000 after buying an additional 94 shares during the period. Finally, Cornerstone Financial Management LLC bought a new stake in shares of Duke Energy in the 4th quarter valued at about $28,000. 65.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on DUK shares. UBS Group decreased their price target on Duke Energy from $137.00 to $135.00 in a research note on Monday, May 11th. BTIG Research reaffirmed a "buy" rating on shares of Duke Energy in a research note on Thursday, July 23rd. Morgan Stanley set a $138.00 price target on shares of Duke Energy in a research report on Wednesday, July 22nd. Mizuho decreased their price objective on shares of Duke Energy from $139.00 to $135.00 and set an "outperform" rating on the stock in a research report on Thursday, June 18th. Finally, Barclays dropped their target price on shares of Duke Energy from $143.00 to $134.00 and set an "overweight" rating for the company in a report on Thursday, June 18th. Ten equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.62.

Insider Activity

In other Duke Energy news, 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 owned 21,415 shares of the company's stock, valued at approximately $2,680,087.25. This trade represents a 14.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Harry K. Sideris sold 20,000 shares of the company's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $124.37, for a total value of $2,487,400.00. Following the completion of the sale, the chief executive officer owned 96,102 shares in the company, valued at $11,952,205.74. The trade was a 17.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.12% of the company's stock.

Duke Energy Stock Down 0.0%

Shares of Duke Energy stock opened at $129.20 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. Duke Energy Corporation has a 12-month low of $113.89 and a 12-month high of $134.49. The company has a market cap of $100.73 billion, a P/E ratio of 19.79, a PEG ratio of 2.85 and a beta of 0.38. The company's fifty day simple moving average is $125.62 and its two-hundred day simple moving average is $126.10.

Duke Energy (NYSE:DUK - Get Free Report) 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 analysts' expectations of $8.44 billion. During the same quarter in the previous year, the company earned $1.76 earnings per share. Duke Energy's quarterly revenue was up 11.3% on a year-over-year basis. Research analysts anticipate that Duke Energy Corporation will post 6.72 EPS for the current year.

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be given a dividend of $1.085 per share. This is an increase from Duke Energy's previous quarterly dividend of $1.06. The ex-dividend date of this dividend is Friday, August 14th. This represents a $4.34 dividend on an annualized basis and a yield of 3.4%. Duke Energy's dividend payout ratio is 65.24%.

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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