Duke Energy Corporation $DUK Stock Holdings Decreased by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management Holding SA cut its Duke Energy stake by 4.9% in the first quarter, selling 23,065 shares and leaving it with 446,823 shares valued at about $58.5 million.
• Duke Energy reported better-than-expected quarterly results, with EPS of $1.93 and revenue of $9.18 billion, while also maintaining a quarterly dividend of $1.065 per share for a 3.3% yield.
• Recent headlines were mostly constructive: Duke is ending its North Carolina offshore wind lease to potentially redeploy capital into grid and generation projects, while analysts remain broadly positive with a Moderate Buy consensus and $138.33 average target price.

Pictet Asset Management Holding SA lowered its position in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 4.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 446,823 shares of the utilities provider's stock after selling 23,065 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of Duke Energy worth $58,511,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DUK. A4 Wealth Advisors LLC lifted its holdings in shares of Duke Energy by 3.3% in the fourth quarter. A4 Wealth Advisors LLC now owns 2,597 shares of the utilities provider's stock valued at $304,000 after purchasing an additional 82 shares in the last quarter. Elm Partners Management LLC grew its holdings in shares of Duke Energy by 0.9% during the fourth quarter. Elm Partners Management LLC now owns 9,254 shares of the utilities provider's stock valued at $1,085,000 after buying an additional 83 shares in the last quarter. CYBER HORNET ETFs LLC raised its position in Duke Energy by 4.1% during the third quarter. CYBER HORNET ETFs LLC now owns 2,113 shares of the utilities provider's stock valued at $261,000 after buying an additional 83 shares during the period. Legacy Wealth Managment LLC ID raised its position in Duke Energy by 35.0% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 324 shares of the utilities provider's stock valued at $38,000 after buying an additional 84 shares during the period. Finally, Sovereign Financial Group Inc. lifted its stake in Duke Energy by 2.8% in the 1st quarter. Sovereign Financial Group Inc. now owns 3,052 shares of the utilities provider's stock worth $400,000 after acquiring an additional 84 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company's stock.

Insider Activity

In related news, CEO Harry K. Sideris sold 20,000 shares of the business'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 value of $2,487,400.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Louis E. Renjel sold 3,500 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $125.15, for a total value of $438,025.00. Following the sale, the chief executive officer directly owned 21,415 shares of the company's stock, valued at $2,680,087.25. The trade was a 14.05% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.12% of the company's stock.

Key Headlines Impacting Duke Energy

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

• Positive Sentiment: Duke Energy reached a settlement to terminate its North Carolina offshore wind lease and may redirect roughly $129 million into new generating capacity and grid modernization, including possible nuclear and natural gas investments, which investors may view as a better use of capital than a delayed wind project. Reuters: Duke Energy to terminate North Carolina offshore wind lease
• Positive Sentiment: A Zacks note highlighted Duke Energy’s $103 billion investment plan, pointing to grid upgrades, new generation, and rising power demand as drivers of multi-year earnings and dividend growth. Zacks: Can Duke Energy's Investment Plan Deliver Years of Earnings Growth?
• Positive Sentiment: Morgan Stanley reportedly raised its price target on Duke Energy, reinforcing a more bullish outlook from analysts. Yahoo Finance: Morgan Stanley Lifts Price Target on Duke Energy (DUK). Here is Why
• Neutral Sentiment: Duke Energy launched AI-powered Bill Insights and summer energy-saving tips for customers, a customer-service initiative that is unlikely to materially affect near-term earnings but could support utility usage management during peak demand. PR Newswire: New this summer: An easier way to understand your energy bill
• Neutral Sentiment: Severe weather and heat-wave headlines noted outages and conservation requests in Duke Energy’s service areas, but these appear to be near-term operational issues rather than a fundamental change in the company’s outlook. MSN: Over 1,000 Duke Energy customers without power in New Hanover County
• Negative Sentiment: Duke Energy trimmed its North Carolina rate-hike request from 18% to 11.6%, which may ease customer backlash but could also reduce upside from the company’s regulatory ask. MSN: Duke Energy cuts North Carolina rate hike request from 18% to 11.6%

Duke Energy Trading Down 0.1%

NYSE:DUK opened at $128.28 on Tuesday. 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 company has a market capitalization of $100.00 billion, a P/E ratio of 19.64 and a beta of 0.39. The stock's 50 day moving average price is $124.97 and its 200 day moving average price is $124.48. Duke Energy Corporation has a 52 week low of $113.89 and a 52 week high of $134.49.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.87 by $0.06. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the prior year, the business posted $1.76 EPS. Duke Energy's quarterly revenue was up 11.3% on a year-over-year basis. On average, research analysts forecast that Duke Energy Corporation will post 6.71 EPS for the current fiscal year.

Duke Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th were given a $1.065 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.3%. Duke Energy's payout ratio is currently 65.24%.

Analyst Ratings Changes

Several equities analysts have weighed in on DUK shares. JPMorgan Chase & Co. lowered their target price on Duke Energy from $139.00 to $136.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 13th. Wells Fargo & Company raised their price target on shares of Duke Energy from $135.00 to $136.00 and gave the stock an "equal weight" rating in a report on Monday, April 20th. Jefferies Financial Group dropped their price objective on shares of Duke Energy from $143.00 to $138.00 in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Duke Energy from a "sell" rating to a "hold" rating in a research report on Saturday, March 28th. Finally, Morgan Stanley lifted their target price on shares of Duke Energy from $132.00 to $136.00 in a research note on Wednesday, June 24th. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Duke Energy currently has an average 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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