Duke Energy Corporation $DUK Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management reduced its Duke Energy stake by 5.6%, selling 373,349 shares and retaining 6.24 million shares worth approximately $790.3 million, or 0.8% of the company.
• Duke Energy reported quarterly earnings of $1.43 per share, beating estimates by $0.13, while revenue rose 1.1% year over year to $7.59 billion.
• The company increased its quarterly dividend to $1.085 per share, implying a 3.6% annualized yield; analysts maintain a “Moderate Buy” consensus with a $137.94 price target, though regulatory and potential dilution risks remain.

Wellington Management Group LLP reduced its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 5.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,243,806 shares of the utilities provider's stock after selling 373,349 shares during the period. Wellington Management Group LLP owned 0.80% of Duke Energy worth $790,341,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Basso Capital Management L.P. bought a new stake in Duke Energy in the fourth quarter valued at $25,000. Evolution Wealth Management Inc. lifted its position in Duke Energy by 1,111.1% in the 4th quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Triumph Capital Management boosted its stake in Duke Energy by 68.6% during the 4th quarter. Triumph Capital Management now owns 231 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 94 shares during the period. Cornerstone Financial Management LLC bought a new position in Duke Energy in the 4th quarter worth about $28,000. Finally, Evergreen Advisors LLC acquired a new stake in shares of Duke Energy in the first quarter valued at approximately $36,000. Institutional investors and hedge funds own 65.31% of the company's stock.

Duke Energy News Roundup

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

• Positive Sentiment: Duke Energy restored power to customers in Greenville and Spartanburg counties after severe thunderstorms. The relatively quick restoration limits the potential financial and reputational impact of the outages. Power restored after storms in Spartanburg County
• Neutral Sentiment: Bank of America’s view that dividend-paying stocks may provide stability in choppy markets could be generally supportive for regulated utilities such as Duke, although the report’s supplied details do not identify a specific recommendation for DUK. BofA names dividend stocks for stability
• Neutral Sentiment: An analysis describes DUK as potentially undervalued by about 13%, but says regulatory proceedings involving PJM and Florida tariff treatment for large customers could affect future cost allocation between shareholders and customers. The potential valuation upside is therefore balanced by policy risk. Duke Energy could be undervalued as regulatory questions build
• Negative Sentiment: Duke’s newly issued equity units may strengthen funding flexibility, but the financing also raises concerns about additional issuance and potential dilution for existing shareholders. Duke Energy newly issued equity units
• Negative Sentiment: Residents and organizers are protesting Duke’s proposed Davidson-Davie gas complex, while a separate petition effort in St. Petersburg seeks to place an anti-Duke measure on the ballot. Opposition could delay projects, increase compliance costs or create additional political risk. Debate over Davie-Davidson Energy Complex

Duke Energy Trading Down 0.5%

Shares of DUK opened at $120.20 on Friday. The business's 50-day moving average price is $125.32 and its 200 day moving average price is $126.61. The company has a current ratio of 0.66, a quick ratio of 0.43 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $93.72 billion, a P/E ratio of 18.05, a P/E/G ratio of 2.81 and a beta of 0.38. Duke Energy Corporation has a 1-year low of $113.89 and a 1-year high of $134.49.

Duke Energy (NYSE:DUK - Get Free Report) last released its earnings results on Monday, August 3rd. The utilities provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.13. Duke Energy had a net margin of 15.78% and a return on equity of 9.78%. The business had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same period last year, the firm posted $1.25 earnings per share. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. Analysts expect that Duke Energy Corporation will post 6.72 earnings per share for the current year.

Duke Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be paid a $1.085 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $4.34 annualized dividend and a yield of 3.6%. This is an increase from Duke Energy's previous quarterly dividend of $1.06. Duke Energy's dividend payout ratio (DPR) is currently 65.17%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DUK. Truist Financial reduced their price objective on Duke Energy from $138.00 to $135.00 and set a "buy" rating for the company in a research report on Monday, August 17th. JPMorgan Chase & Co. increased their price target on Duke Energy from $136.00 to $141.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Mizuho set a $136.00 price objective on shares of Duke Energy in a research note on Wednesday, August 5th. UBS Group decreased their target price on shares of Duke Energy from $137.00 to $135.00 in a research report on Monday, May 11th. Finally, BMO Capital Markets dropped their price target on shares of Duke Energy from $134.00 to $132.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 5th. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Duke Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.94.

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.

Want to see what other hedge funds are holding DUK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Duke Energy Corporation (NYSE:DUK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source