Duke Energy Corporation $DUK Shares Sold by Richard Bernstein Advisors LLC

Key Points

• Richard Bernstein Advisors LLC cut its stake in Duke Energy by 51.2% in Q3, selling 14,540 shares and leaving it with 13,858 shares valued at about $1.72 million.
• Analysts have a consensus Hold rating on Duke with a consensus price target of $137.80 (9 Buys, 7 Holds, 1 Sell).
• Duke declared a quarterly dividend of $1.065 (annualized $4.26, ~3.3% yield), while insiders — including CEO Louis Renjel — sold shares (CEO sold 6,800 shares for about $868,156, a ~23.6% reduction in his ownership).

Richard Bernstein Advisors LLC lowered its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 51.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 13,858 shares of the utilities provider's stock after selling 14,540 shares during the quarter. Richard Bernstein Advisors LLC's holdings in Duke Energy were worth $1,715,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in Duke Energy by 37.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 41,642 shares of the utilities provider's stock valued at $5,153,000 after purchasing an additional 11,409 shares during the last quarter. Applied Finance Capital Management LLC purchased a new stake in Duke Energy during the 3rd quarter valued at about $1,046,000. Lockheed Martin Investment Management Co. raised its holdings in Duke Energy by 11.3% in the 3rd quarter. Lockheed Martin Investment Management Co. now owns 274,630 shares of the utilities provider's stock valued at $33,985,000 after acquiring an additional 27,820 shares during the last quarter. Alley Investment Management Company LLC boosted its holdings in shares of Duke Energy by 13.0% during the 3rd quarter. Alley Investment Management Company LLC now owns 88,018 shares of the utilities provider's stock worth $10,892,000 after purchasing an additional 10,108 shares during the last quarter. Finally, Greystone Financial Group LLC increased its holdings in shares of Duke Energy by 12.7% in the third quarter. Greystone Financial Group LLC now owns 93,766 shares of the utilities provider's stock valued at $11,604,000 after purchasing an additional 10,580 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Evercore reiterated an "in-line" rating and set a $139.00 price target on shares of Duke Energy in a report on Thursday, March 5th. UBS Group raised their target price on Duke Energy from $136.00 to $140.00 in a research note on Monday. Weiss Ratings reissued a "buy (b)" rating on shares of Duke Energy in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Duke Energy from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Mizuho set a $130.00 target price on Duke Energy in a research report on Tuesday, February 10th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Duke Energy currently has a consensus rating of "Hold" and a consensus price target of $137.80.

Duke Energy Stock Down 1.2%

Shares of Duke Energy stock opened at $130.98 on Tuesday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.33 and a current ratio of 0.55. The firm has a fifty day moving average of $122.85 and a two-hundred day moving average of $122.41. Duke Energy Corporation has a one year low of $111.22 and a one year high of $132.65. The company has a market cap of $101.86 billion, a P/E ratio of 20.72, a PEG ratio of 2.88 and a beta of 0.50.

Duke Energy (NYSE:DUK - Get Free Report) last posted its quarterly earnings data on Monday, February 9th. The utilities provider reported $1.50 EPS for the quarter, beating analysts' consensus estimates of $1.49 by $0.01. The company had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $7.57 billion. Duke Energy had a net margin of 15.41% and a return on equity of 9.66%. During the same quarter in the prior year, the company posted $1.66 EPS. On average, analysts forecast that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 13th will be issued a dividend of $1.065 per share. This represents a $4.26 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, February 13th. Duke Energy's payout ratio is currently 67.41%.

Insiders Place Their Bets

In other news, CEO Louis E. Renjel sold 6,800 shares of the business's stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $127.67, for a total value of $868,156.00. Following the sale, the chief executive officer directly owned 22,007 shares in the company, valued at $2,809,633.69. The trade was a 23.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Regis T. Repko sold 962 shares of the firm's stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $127.86, for a total transaction of $123,001.32. Following the completion of the sale, the senior vice president owned 3,896 shares in the company, valued at approximately $498,142.56. The trade was a 19.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.14% of the company's stock.

Duke Energy Profile

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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