Graham Capital Management L.P. Reduces Stake in Duke Energy Corporation $DUK

Key Points

• Graham Capital Management L.P. reduced its stake in Duke Energy by 61.9%, selling 20,878 shares and holding 12,862 shares valued at approximately $1.57 million.
• Duke Energy reported $1.25 earnings per share for the latest quarter, missing estimates, but achieved revenue of $7.51 billion, which exceeded expectations.
• The company increased its quarterly dividend to $1.065 per share, with a dividend yield of 3.5%, scheduled for payment on September 16th.

Graham Capital Management L.P. decreased its holdings in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 61.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,862 shares of the utilities provider's stock after selling 20,878 shares during the period. Graham Capital Management L.P.'s holdings in Duke Energy were worth $1,569,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in DUK. Activest Wealth Management increased its stake in shares of Duke Energy by 98.1% in the 1st quarter. Activest Wealth Management now owns 212 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 105 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new position in shares of Duke Energy during the fourth quarter valued at about $27,000. Wayfinding Financial LLC acquired a new position in shares of Duke Energy during the first quarter valued at about $27,000. N.E.W. Advisory Services LLC acquired a new position in shares of Duke Energy during the first quarter valued at about $27,000. Finally, Mattson Financial Services LLC acquired a new position in shares of Duke Energy during the fourth quarter valued at about $28,000. 65.31% of the stock is currently owned by institutional investors.

Duke Energy Stock Down 0.2%

Shares of NYSE:DUK traded down $0.29 during midday trading on Friday, hitting $120.58. 1,980,185 shares of the company's stock were exchanged, compared to its average volume of 2,672,641. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.66 and a quick ratio of 0.42. The stock has a 50 day moving average price of $121.08 and a 200-day moving average price of $118.97. The company has a market cap of $93.77 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 2.91 and a beta of 0.39. Duke Energy Corporation has a 12 month low of $105.20 and a 12 month high of $127.85.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.29 by ($0.04). Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The firm had revenue of $7.51 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the previous year, the company posted $1.18 earnings per share. The company's revenue for the quarter was up 4.7% on a year-over-year basis. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. On average, sell-side analysts anticipate that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be given a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's payout ratio is currently 69.27%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Duke Energy from $127.00 to $131.00 and gave the company a "neutral" rating in a report on Thursday, August 21st. Morgan Stanley reiterated an "outperform" rating on shares of Duke Energy in a report on Thursday, August 21st. The Goldman Sachs Group set a $132.00 price objective on shares of Duke Energy in a report on Tuesday, July 1st. Barclays boosted their target price on shares of Duke Energy from $122.00 to $131.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Finally, Scotiabank boosted their target price on shares of Duke Energy from $120.00 to $128.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 6th. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $130.62.

Insider Transactions at Duke Energy

In other Duke Energy news, SVP Bonnie B. Titone sold 2,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total value of $248,760.00. Following the completion of the sale, the senior vice president directly owned 19,608 shares of the company's stock, valued at approximately $2,438,843.04. This represents a 9.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $124.26, for a total transaction of $832,542.00. Following the completion of the sale, the executive vice president directly owned 46,422 shares of the company's stock, valued at $5,768,397.72. The trade was a 12.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company's stock.

Duke Energy Company Profile

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.