UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Decreases Stock Position in Duke Energy Corporation $DUK

Key Points

• UBS Asset Management significantly reduced its stake in Duke Energy, lowering its position by 76.9% in the first quarter, maintaining ownership of approximately 3.6 million shares valued at $443 million.
• Duke Energy reported earnings of $1.25 per share for the last quarter, falling short of analyst expectations, despite revenue surpassing estimates at $7.51 billion.
• The company announced an increase in its quarterly dividend to $1.065 per share, resulting in an annual yield of 3.5%, with the ex-dividend date set for August 15th.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC reduced its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 76.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,632,655 shares of the utilities provider's stock after selling 12,083,246 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.47% of Duke Energy worth $443,075,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Activest Wealth Management boosted its holdings in shares of Duke Energy by 98.1% in the first quarter. Activest Wealth Management now owns 212 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 105 shares during the period. Vermillion Wealth Management Inc. acquired a new stake in shares of Duke Energy during the fourth quarter worth $27,000. Wayfinding Financial LLC acquired a new stake in shares of Duke Energy during the first quarter worth $27,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Duke Energy during the first quarter worth $27,000. Finally, Mattson Financial Services LLC acquired a new stake in shares of Duke Energy during the fourth quarter worth $28,000. 65.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on DUK. Barclays increased their price target on Duke Energy from $122.00 to $131.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Raymond James Financial initiated coverage on Duke Energy in a report on Friday, June 13th. They issued a "market perform" rating for the company. Morgan Stanley reaffirmed an "outperform" rating on shares of Duke Energy in a research note on Thursday, August 21st. Scotiabank lifted their price target on Duke Energy from $120.00 to $128.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 6th. Finally, JPMorgan Chase & Co. lifted their price target on Duke Energy from $127.00 to $131.00 and gave the stock a "neutral" rating in a research note on Thursday, August 21st. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Duke Energy presently has an average rating of "Moderate Buy" and an average price target of $130.62.

Insider Activity

In other Duke Energy news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of Duke Energy 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 completion of the sale, the executive vice president owned 46,422 shares in the company, valued at $5,768,397.72. The trade was a 12.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Bonnie B. Titone sold 2,000 shares of Duke Energy stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total value of $248,760.00. Following the completion of the sale, the senior vice president owned 19,608 shares of the company's stock, valued at $2,438,843.04. This trade 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 insiders.

Duke Energy Price Performance

Duke Energy stock traded down $0.15 during midday trading on Friday, reaching $121.96. 2,136,379 shares of the company were exchanged, compared to its average volume of 2,491,651. The company has a market capitalization of $94.84 billion, a price-to-earnings ratio of 19.83, a P/E/G ratio of 2.95 and a beta of 0.39. The firm's 50-day simple moving average is $121.42 and its 200-day simple moving average is $119.16. Duke Energy Corporation has a 1 year low of $105.20 and a 1 year high of $127.85. 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 (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 analysts' consensus estimates of $1.29 by ($0.04). The company had revenue of $7.51 billion for the quarter, compared to analysts' expectations of $7.07 billion. Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The company's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.18 EPS. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. On average, analysts anticipate that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be given a dividend of $1.065 per share. The ex-dividend date is Friday, August 15th. This represents a $4.26 dividend on an annualized basis and a yield of 3.5%. This is a boost from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's dividend payout ratio (DPR) is 69.27%.

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.