Comerica Bank Sells 6,982 Shares of Duke Energy Corporation $DUK

Key Points

• Comerica Bank reduced its stake in Duke Energy by 2.6%, selling 6,982 shares and leaving it with 258,867 shares valued at approximately $31.57 million.
• Recent insider trading included the sale of 6,700 shares by EVP Thomas Preston Jr. Gillespie, decreasing his ownership by 12.61%.
• Duke Energy increased its quarterly dividend to $1.065 per share, reflecting an annual yield of 3.4%, set to be paid on September 16th.

Comerica Bank lowered its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 258,867 shares of the utilities provider's stock after selling 6,982 shares during the period. Comerica Bank's holdings in Duke Energy were worth $31,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. N.E.W. Advisory Services LLC purchased a new position in shares of Duke Energy during the first quarter worth approximately $27,000. Wayfinding Financial LLC purchased a new position in shares of Duke Energy during the first quarter worth approximately $27,000. Mattson Financial Services LLC purchased a new position in shares of Duke Energy during the fourth quarter worth approximately $28,000. Vermillion Wealth Management Inc. purchased a new position in shares of Duke Energy during the fourth quarter worth approximately $27,000. Finally, Financial Network Wealth Advisors LLC increased its position in shares of Duke Energy by 360.0% during the first quarter. Financial Network Wealth Advisors LLC now owns 253 shares of the utilities provider's stock worth $31,000 after acquiring an additional 198 shares during the period. 65.31% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Duke Energy news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of Duke Energy 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 of the company's stock, valued at approximately $5,768,397.72. The trade was a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Bonnie B. Titone sold 2,000 shares of Duke Energy 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 of the company's stock, valued at $2,438,843.04. The trade was a 9.26% decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on DUK shares. Raymond James Financial started coverage on shares of Duke Energy in a report on Friday, June 13th. They set a "market perform" rating on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Duke Energy from $127.00 to $131.00 and gave the company a "neutral" rating in a report on Thursday. Morgan Stanley cut their price objective on shares of Duke Energy from $125.00 to $124.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. UBS Group reissued a "neutral" rating and set a $127.00 price objective (up from $124.00) on shares of Duke Energy in a report on Friday, July 11th. Finally, The Goldman Sachs Group set a $132.00 price objective on shares of Duke Energy in a report on Tuesday, July 1st. Nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Duke Energy has an average rating of "Moderate Buy" and a consensus target price of $130.07.

Duke Energy Price Performance

NYSE DUK opened at $124.2140 on Monday. The firm's fifty day simple moving average is $119.78 and its two-hundred day simple moving average is $118.41. 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 12-month low of $105.20 and a 12-month high of $127.85. The firm has a market capitalization of $96.59 billion, a P/E ratio of 20.20, a P/E/G ratio of 3.00 and a beta of 0.36.

Duke Energy (NYSE:DUK - Get Free Report) last posted its quarterly earnings data 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 return on equity of 9.85% and a net margin of 15.51%.The company had revenue of $7.51 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the previous year, the firm posted $1.18 earnings per share. The company's quarterly revenue was up 4.7% on a year-over-year basis. 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 fiscal year.

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be issued 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 dividend on an annualized basis and a yield of 3.4%. Duke Energy's dividend payout ratio is presently 69.27%.

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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