Conning Inc. Sells 5,715,541 Shares of Duke Energy Corporation $DUK

Key Points

• Conning Inc. dramatically reduced its Duke Energy stake in the first quarter, selling 5,715,541 shares and leaving it with just 3,298 shares worth about $432,000.
• Duke Energy posted solid quarterly results, reporting EPS of $1.93 versus $1.87 expected and revenue of $9.18 billion, up 11.3% year over year.
• The company continues to support income investors with a quarterly dividend of $1.065 per share, or $4.26 annualized, for a yield of about 3.4%.

Conning Inc. trimmed its position in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 99.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,298 shares of the utilities provider's stock after selling 5,715,541 shares during the quarter. Conning Inc.'s holdings in Duke Energy were worth $432,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in DUK. Basso Capital Management L.P. purchased a new position in Duke Energy during the fourth quarter valued at $25,000. Dorato Capital Management bought a new position in shares of Duke Energy in the 4th quarter worth about $26,000. Evolution Wealth Management Inc. boosted its stake in Duke Energy by 1,111.1% during the fourth 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 Duke Energy in the third quarter worth about $27,000. Finally, Triumph Capital Management increased its stake in shares of Duke Energy by 68.6% during the fourth quarter. Triumph Capital Management now owns 231 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 94 shares in the last quarter. Institutional investors own 65.31% of the company's stock.

Trending Headlines about Duke Energy

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

• Positive Sentiment: Duke Energy Florida said it will deliver $50 million in customer savings and avoid a planned 2027 base rate increase by accelerating the return of tax credits tied to its battery storage system, reinforcing the company’s ability to manage rates and support customers. Duke Energy Florida delivers $50 million in customer savings, avoids 2027 base rate increase through innovative tax strategy
• Positive Sentiment: Multiple market write-ups highlighted Duke Energy as a stable, cash-generating utility with solid sales growth, favorable valuation metrics, and stronger revenue consistency than some peers, which can support investor confidence in the stock. Invest in These 3 Sales Growth Stocks for Robust Returns
• Positive Sentiment: Coverage comparing Duke Energy with other utilities suggested the company has held up well versus the sector this year, underscoring its defensive appeal relative to peers. Has Duke Energy (DUK) Outpaced Other Utilities Stocks This Year?
• Neutral Sentiment: Articles about Duke Energy’s customer bill assistance and free home inspections are favorable from a public-relations standpoint, but they are unlikely to materially affect near-term earnings or valuation. Duke Energy to provide credit assistance for customers
• Neutral Sentiment: Broader industry reporting on surging data-center power demand and equipment shortages could eventually benefit utilities like Duke Energy through higher load growth, but it also signals higher costs and longer lead times, making the near-term impact mixed. US power companies scramble to secure equipment as surging data center demand strains supplies
• Negative Sentiment: Duke Energy is still facing regulatory pushback in North Carolina after reducing its requested residential rate hike, which keeps pressure on the company’s ability to win approval for higher rates. Duke reduces rate hike request, still faces regulator pushback

Insider Transactions at Duke Energy

In other news, CEO Louis E. Renjel sold 3,500 shares of the company's stock in a transaction dated 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 sale, the chief executive officer owned 21,415 shares of the company's stock, valued at $2,680,087.25. This represents a 14.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Harry K. Sideris sold 20,000 shares of the firm'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 transaction of $2,487,400.00. Following the completion of the transaction, the chief executive officer directly owned 96,102 shares in the company, valued at approximately $11,952,205.74. The trade was a 17.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.12% of the company's stock.

Duke Energy Stock Performance

Shares of DUK stock traded up $0.21 during trading hours on Friday, reaching $125.47. The company had a trading volume of 2,801,060 shares, compared to its average volume of 3,706,513. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.44 and a current ratio of 0.66. The business has a fifty day moving average price of $124.95 and a 200-day moving average price of $125.12. Duke Energy Corporation has a one year low of $113.89 and a one year high of $134.49. The firm has a market cap of $97.81 billion, a PE ratio of 19.21 and a beta of 0.38.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.87 by $0.06. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.76 earnings per share. Sell-side analysts predict that Duke Energy Corporation will post 6.71 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th were 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 was Friday, May 15th. Duke Energy's dividend payout ratio (DPR) is presently 65.24%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. BTIG Research reaffirmed a "buy" rating and set a $139.00 price objective on shares of Duke Energy in a research report on Tuesday, June 2nd. Truist Financial cut their price objective on shares of Duke Energy from $142.00 to $137.00 and set a "buy" rating on the stock in a research report on Monday, May 18th. Jefferies Financial Group decreased their target price on shares of Duke Energy from $143.00 to $138.00 in a report on Monday, May 11th. Weiss Ratings reiterated a "buy (b)" rating on shares of Duke Energy in a report on Monday, May 4th. Finally, Morgan Stanley upped their price objective on Duke Energy from $132.00 to $136.00 in a research report on Wednesday, June 24th. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.33.

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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