Employees Retirement System of Texas Sells 42,453 Shares of Duke Energy Corporation $DUK

Key Points

• Employees Retirement System of Texas cut its Duke Energy stake by 54.6% in the fourth quarter, selling 42,453 shares and leaving it with 35,256 shares valued at about $4.13 million.
• Two Duke Energy CEOs also made notable insider sales: Louis E. Renjel sold 3,500 shares and Harry K. Sideris sold 20,000 shares, reducing their ownership positions.
• Duke Energy reported better-than-expected Q1 results with EPS of $1.93 versus $1.87 expected and revenue of $9.18 billion, while also declaring a quarterly dividend of $1.065 per share, or $4.26 annually.

Employees Retirement System of Texas trimmed its holdings in Duke Energy Corporation (NYSE:DUK - Free Report) by 54.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,256 shares of the utilities provider's stock after selling 42,453 shares during the quarter. Employees Retirement System of Texas' holdings in Duke Energy were worth $4,132,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dorato Capital Management acquired a new stake in Duke Energy in the fourth quarter worth about $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Duke Energy in the third quarter worth about $27,000. Lodestone Wealth Management LLC acquired a new stake in Duke Energy in the fourth quarter worth about $30,000. Wiser Advisor Group LLC acquired a new stake in Duke Energy in the third quarter worth about $34,000. Finally, Cornerstone Planning Group LLC increased its position in Duke Energy by 13,750.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 277 shares of the utilities provider's stock worth $33,000 after purchasing an additional 275 shares during the period. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Duke Energy

In related news, CEO Louis E. Renjel sold 3,500 shares of the business'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 completion of the transaction, the chief executive officer directly owned 21,415 shares in the company, valued at approximately $2,680,087.25. The trade was a 14.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Harry K. Sideris sold 20,000 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $124.37, for a total value of $2,487,400.00. Following the completion of the transaction, the chief executive officer owned 96,102 shares of the company's stock, valued at $11,952,205.74. This represents a 17.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.12% of the stock is currently owned by insiders.

Duke Energy Price Performance

Shares of DUK opened at $125.30 on Thursday. 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 stock has a 50 day simple moving average of $127.79 and a 200 day simple moving average of $124.05. Duke Energy Corporation has a 52-week low of $113.39 and a 52-week high of $134.49. The firm has a market capitalization of $97.68 billion, a PE ratio of 19.19 and a beta of 0.41.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.06. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period in the previous year, the firm earned $1.76 EPS. Duke Energy's quarterly revenue was up 11.3% compared to the same quarter last year. Sell-side analysts predict that Duke Energy Corporation will post 6.71 EPS for the current fiscal year.

Duke Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Friday, May 15th will be given a $1.065 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.26 annualized dividend and a dividend yield of 3.4%. Duke Energy's payout ratio is currently 65.24%.

Trending Headlines about Duke Energy

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

• Positive Sentiment: South Carolina regulators approved Duke Energy’s new PowerShare Storage program, which lets nonresidential customers earn bill credits by using storage assets to help manage peak demand. The move supports grid reliability while creating a customer-friendly revenue opportunity. New Duke Energy program helps South Carolina nonresidential customers lower costs while supporting a growing grid
• Positive Sentiment: The Duke Energy Foundation awarded $130,000 to Florida organizations for storm preparedness and community resiliency ahead of hurricane season, reinforcing the company’s focus on protecting critical infrastructure and reducing outage risk. Ahead of hurricane season, Duke Energy Foundation awards $130,000 to 10 organizations advancing storm preparedness and community resiliency
• Positive Sentiment: Another report said Duke Energy grants in Florida are tied to long-term grid resilience and storm readiness, which may help reduce operational disruptions and support its regulated utility profile. Duke Energy Grants Tie Florida Storm Readiness To Long Term Grid Risks
• Neutral Sentiment: Morgan Stanley lowered its price target on Duke Energy to $132 from $141 but kept an Equal Weight rating, suggesting a more cautious valuation view rather than a major change in fundamentals. Morgan Stanley Revises Duke Energy (DUK) Valuation Following Utility Sector Update
• Neutral Sentiment: Coverage noting that utilities have lagged Duke Energy this year appears more descriptive than catalytic, and is unlikely to be a major near-term driver by itself. Are Utilities Stocks Lagging Duke Energy (DUK) This Year?
• Negative Sentiment: The stock may face some pressure from commentary highlighting that Duke Energy has already rallied relative to peers, while broader utility-sector performance remains mixed. Are Utilities Stocks Lagging Duke Energy (DUK) This Year?
• Positive Sentiment: A report that Duke Energy rate hikes were affirmed by the Supreme Court is supportive for earnings visibility and regulated returns, which is generally favorable for utility investors. Duke Energy rate hikes affirmed by Supreme Court

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DUK. JPMorgan Chase & Co. lowered their price objective on Duke Energy from $139.00 to $136.00 and set a "neutral" rating for the company in a research report on Wednesday, May 13th. UBS Group lowered their price objective on Duke Energy from $137.00 to $135.00 in a research report on Monday, May 11th. The Goldman Sachs Group lifted their price objective on Duke Energy from $141.00 to $142.00 and gave the stock a "buy" rating in a research report on Wednesday, February 11th. BTIG Research restated a "buy" rating and set a $141.00 target price on shares of Duke Energy in a research report on Friday, January 30th. Finally, Evercore boosted their target price on Duke Energy from $139.00 to $140.00 in a research report on Monday, May 11th. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $139.07.

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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