Credit Agricole S A Cuts Stake in Duke Energy Corporation $DUK

Key Points

• Credit Agricole S A significantly reduced its holdings in Duke Energy shares by 63.2%, now owning 32,500 shares valued at approximately $3.96 million.
• Analysts maintain a positive outlook on Duke Energy, with a consensus target price of $130.07 and nine analysts rating the stock as a Buy.
• Duke Energy announced an increase in its quarterly dividend to $1.065 per share, reflecting a 3.4% yield, with the ex-dividend date on August 15.

Credit Agricole S A reduced its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 63.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,500 shares of the utilities provider's stock after selling 55,839 shares during the period. Credit Agricole S A's holdings in Duke Energy were worth $3,964,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Investment Management Corp of Ontario lifted its holdings in shares of Duke Energy by 212.8% during the fourth quarter. Investment Management Corp of Ontario now owns 79,989 shares of the utilities provider's stock valued at $8,618,000 after purchasing an additional 54,413 shares in the last quarter. Andrew Hill Investment Advisors Inc. lifted its holdings in shares of Duke Energy by 338.6% during 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 purchasing an additional 29,153 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Duke Energy by 7.7% during 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 purchasing an additional 20,942 shares in the last quarter. Pinnacle Financial Partners Inc lifted its holdings in shares of Duke Energy by 9.9% during the first quarter. Pinnacle Financial Partners Inc now owns 127,419 shares of the utilities provider's stock valued at $14,451,000 after purchasing an additional 11,445 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. lifted its holdings in shares of Duke Energy by 8.1% during 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 in the last quarter. 65.31% of the stock is owned by institutional investors.

Duke Energy Stock Performance

Shares of NYSE DUK traded up $0.15 during trading on Tuesday, hitting $123.26. The company had a trading volume of 3,102,019 shares, compared to its average volume of 3,571,244. The stock has a 50 day simple moving average of $119.94 and a 200 day simple moving average of $118.47. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.42 and a current ratio of 0.66. 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 $95.85 billion, a P/E ratio of 20.04, a price-to-earnings-growth 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 during the quarter, compared to the consensus estimate of $7.07 billion. During the same period last year, the business earned $1.18 EPS. The firm's quarterly revenue was up 4.7% compared to the same quarter last year. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. As a group, analysts anticipate 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. Stockholders of record on Friday, August 15th will be paid a $1.065 dividend. This represents a $4.26 annualized dividend and a dividend yield of 3.5%. This is an increase from Duke Energy's previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, August 15th. Duke Energy's dividend payout ratio is 69.27%.

Insider Activity

In other news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $124.26, for a total value of $832,542.00. Following the transaction, the executive vice president owned 46,422 shares of the company's stock, valued at $5,768,397.72. This trade represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Bonnie B. Titone sold 2,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $124.38, for a total value of $248,760.00. Following the sale, 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. 0.14% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on DUK shares. Wells Fargo & Company upped their price target on Duke Energy from $127.00 to $138.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Citigroup increased their target price on Duke Energy from $130.00 to $142.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Barclays increased their target price on Duke Energy from $122.00 to $131.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Scotiabank increased their target price on Duke Energy from $120.00 to $128.00 and gave the company a "sector perform" rating in a report on Wednesday, August 6th. Finally, Morgan Stanley reissued an "outperform" rating on shares of Duke Energy in a report on Thursday, August 21st. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $130.07.

About Duke Energy

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.