First Horizon Corp Increases Position in Duke Energy Corporation $DUK

Key Points

• First Horizon Corp increased its stake in Duke Energy by 49.4% in the first quarter, buying 30,964 additional shares and bringing its total holding to 93,643 shares worth about $12.26 million.
• Duke Energy reported strong first-quarter results, with earnings of $1.93 per share and revenue of $9.18 billion, both ahead of analyst expectations. Revenue also rose 11.3% year over year.
• The company continues to support income-focused investors with a quarterly dividend of $1.065 per share, or $4.26 annually, for a yield of about 3.4%. However, some analysts have trimmed targets and regulators are pushing back on rate and data-center plans.

First Horizon Corp increased its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 49.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 93,643 shares of the utilities provider's stock after buying an additional 30,964 shares during the period. First Horizon Corp's holdings in Duke Energy were worth $12,262,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the company. Mosaic Family Wealth Partners LLC raised its holdings in Duke Energy by 25.6% in the 1st quarter. Mosaic Family Wealth Partners LLC now owns 4,560 shares of the utilities provider's stock worth $597,000 after acquiring an additional 928 shares during the last quarter. Kestra Advisory Services LLC lifted its position in Duke Energy by 13.6% during the first quarter. Kestra Advisory Services LLC now owns 205,462 shares of the utilities provider's stock valued at $26,903,000 after purchasing an additional 24,670 shares in the last quarter. Money Concepts Capital Corp grew its stake in shares of Duke Energy by 4.1% during the 1st quarter. Money Concepts Capital Corp now owns 57,987 shares of the utilities provider's stock valued at $7,593,000 after acquiring an additional 2,274 shares during the period. Resona Asset Management Co. Ltd. boosted its position in shares of Duke Energy by 1.6% in the first quarter. Resona Asset Management Co. Ltd. now owns 317,710 shares of the utilities provider's stock worth $41,635,000 after purchasing an additional 5,060 shares during the period. Finally, Griffith & Werner Inc. increased its stake in Duke Energy by 5.3% in the 1st quarter. Griffith & Werner Inc. now owns 27,456 shares of the utilities provider's stock worth $3,595,000 after buying an additional 1,393 shares in the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Duke Energy

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

• Positive Sentiment: Duke Energy is still being highlighted as a defensive stock pick as investors rotate away from tech and into safer sectors, which can support demand for the shares. 4 Defensive Stocks to Take Refuge in as Tech Sell-off Continues
• Positive Sentiment: The company is offering bill assistance and free home inspections for customers, which may help strengthen goodwill with regulators and communities. Indiana customers to receive $350,000 in bill assistance from Duke Energy this summer
• Positive Sentiment: AI-driven data center demand is boosting long-term electricity demand for utilities, which could benefit Duke Energy if it can supply that growth and secure needed equipment. US power companies scramble to secure equipment as surging data center demand strains supplies
• Neutral Sentiment: Investor attention on Duke Energy has increased, but the coverage mostly reflects market interest rather than a clear new catalyst. Investors Heavily Search Duke Energy Corporation (DUK): Here is What You Need to Know
• Neutral Sentiment: Duke Energy is facing scrutiny over its Florida data-center plan, adding uncertainty around how quickly it can capitalize on AI-related growth. Duke Energy faces first major test of Florida's new AI data center law
• Negative Sentiment: Regulators in North Carolina and Florida are pushing back on Duke Energy’s rate and data-center plans, raising the risk of slower approvals or less favorable economics. Duke reduces rate hike request, still faces regulator pushback
• Negative Sentiment: Goldman Sachs removed Duke Energy from its U.S. Conviction List, which may weigh on near-term sentiment. Goldman Sachs Removes Duke Energy (DUK) from its US Conviction List

Insiders Place Their Bets

In other news, CEO Harry K. Sideris sold 20,000 shares of the business's stock in a transaction 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 transaction, the chief executive officer directly owned 96,102 shares of the company's stock, valued at approximately $11,952,205.74. The trade was a 17.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Louis E. Renjel sold 3,500 shares of the business's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $125.15, for a total transaction of $438,025.00. Following the completion of the transaction, the chief executive officer owned 21,415 shares of the company's stock, valued at $2,680,087.25. This represents a 14.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.12% of the company's stock.

Duke Energy Stock Performance

Duke Energy stock opened at $125.27 on Friday. Duke Energy Corporation has a 1-year low of $113.89 and a 1-year high of $134.49. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.66 and a quick ratio of 0.44. The firm has a market capitalization of $97.66 billion, a P/E ratio of 19.18 and a beta of 0.38. The company's 50-day moving average is $124.97 and its 200 day moving average is $125.12.

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

Duke Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th were paid a dividend of $1.065 per share. The ex-dividend date was Friday, May 15th. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. Duke Energy's dividend payout ratio (DPR) is currently 65.24%.

Analyst Ratings Changes

Several research firms have weighed in on DUK. JPMorgan Chase & Co. dropped their price target on Duke Energy from $139.00 to $136.00 and set a "neutral" rating for the company in a research note on Wednesday, May 13th. Capitol Sec Mgt downgraded shares of Duke Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, April 10th. UBS Group dropped their target price on shares of Duke Energy from $137.00 to $135.00 in a research report on Monday, May 11th. BTIG Research reiterated a "buy" rating and issued a $139.00 price target on shares of Duke Energy in a report on Tuesday, June 2nd. Finally, Wells Fargo & Company boosted their price target on shares of Duke Energy from $135.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Monday, April 20th. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $138.33.

Duke Energy Profile

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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