Fifth Third Wealth Advisors LLC Boosts Holdings in Duke Energy Corporation $DUK

Key Points

• Fifth Third Wealth Advisors LLC nearly doubled its Duke Energy stake in the first quarter, increasing holdings by 94.1% to 39,385 shares worth about $5.16 million.
• Duke Energy beat quarterly earnings and revenue expectations, reporting $1.93 EPS versus $1.87 expected and $9.18 billion in revenue versus $8.44 billion expected, with revenue up 11.3% year over year.
• The company continues to offer an attractive income profile, having paid a quarterly dividend of $1.065 per share for a 3.4% annualized yield, though CEO stock sales and mixed analyst actions suggest some caution.

Fifth Third Wealth Advisors LLC grew its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 94.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,385 shares of the utilities provider's stock after acquiring an additional 19,093 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Duke Energy were worth $5,157,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in DUK. World Investment Advisors boosted its position in Duke Energy by 62.7% during the fourth quarter. World Investment Advisors now owns 42,680 shares of the utilities provider's stock worth $5,003,000 after acquiring an additional 16,450 shares during the last quarter. Aptus Capital Advisors LLC raised its stake in shares of Duke Energy by 7.2% in the 3rd quarter. Aptus Capital Advisors LLC now owns 206,891 shares of the utilities provider's stock valued at $25,603,000 after acquiring an additional 13,882 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Duke Energy by 22.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 132,530 shares of the utilities provider's stock worth $15,534,000 after acquiring an additional 24,497 shares in the last quarter. Moseley Investment Management Inc. boosted its stake in shares of Duke Energy by 423.6% in the fourth quarter. Moseley Investment Management Inc. now owns 9,749 shares of the utilities provider's stock valued at $1,143,000 after purchasing an additional 7,887 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in shares of Duke Energy by 4.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 359,829 shares of the utilities provider's stock valued at $42,176,000 after acquiring an additional 14,137 shares in the last quarter. Hedge funds and other institutional investors own 65.31% of the company's stock.

Duke Energy Price Performance

NYSE:DUK opened at $126.33 on Thursday. The company has a quick ratio of 0.44, a current ratio of 0.66 and a debt-to-equity ratio of 1.45. The business's 50-day moving average price is $125.03 and its 200 day moving average price is $124.22. Duke Energy Corporation has a 52-week low of $113.89 and a 52-week high of $134.49. The firm has a market cap of $98.49 billion, a P/E ratio of 19.35 and a beta of 0.39.

Duke Energy (NYSE:DUK - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the firm posted $1.76 EPS. The business's revenue for the quarter was up 11.3% on a year-over-year basis. As a group, sell-side analysts predict that Duke Energy Corporation will post 6.71 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The firm 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 was Friday, May 15th. This represents a $4.26 annualized dividend and a yield of 3.4%. Duke Energy's payout ratio is 65.24%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DUK. JPMorgan Chase & Co. dropped their price target on shares of Duke Energy from $139.00 to $136.00 and set a "neutral" rating for the company in a research note on Wednesday, May 13th. Wall Street Zen upgraded Duke Energy from a "sell" rating to a "hold" rating in a research report on Saturday, March 28th. Mizuho dropped their target price on Duke Energy from $139.00 to $135.00 and set an "outperform" rating on the stock in a research report on Thursday, June 18th. Wells Fargo & Company raised their price target on shares of Duke Energy from $135.00 to $136.00 and gave the company an "equal weight" rating in a research note on Monday, April 20th. Finally, BMO Capital Markets cut their price objective on shares of Duke Energy from $139.00 to $138.00 in a research note on Wednesday, May 6th. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $138.33.

Insider Buying and Selling at Duke Energy

In other news, CEO Louis E. Renjel sold 3,500 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $125.15, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Harry K. Sideris sold 20,000 shares of the stock in a transaction 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 trade represents a 17.23% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is currently owned by corporate insiders.

Trending Headlines about Duke Energy

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

• Positive Sentiment: Morgan Stanley raised its price target on Duke Energy to $136 from $132, signaling about 8.7% upside from recent trading levels and reinforcing a constructive view on the utility. Morgan Stanley adjusts price target on Duke Energy to 136 from 132, maintains Equal Weight rating
• Positive Sentiment: Two articles highlighted Duke Energy as one of the better S&P 500 dividend stocks, pointing to its 3.41% annual dividend yield and defensive utility profile, which may appeal to income-focused investors. Is Duke Energy (DUK) One of the Best S&P 500 Stocks to Buy for Dividends?
• Positive Sentiment: Duke Energy Foundation announced more than $550,000 in America250 grants in South Carolina and North Carolina, a modest positive for sentiment and brand image but not a major financial driver. Duke Energy Foundation completes more than $550,000 in grants

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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