iA Global Asset Management Inc. Sells 70,772 Shares of Duke Energy Corporation $DUK

Key Points

• iA Global Asset Management cut its Duke Energy stake by 41% in the fourth quarter, selling 70,772 shares and leaving it with 101,918 shares valued at about $11.95 million.
• Duke Energy reported strong quarterly results, with EPS of $1.93 beating estimates of $1.87 and revenue of $9.18 billion topping expectations; revenue also rose 11.3% year over year.
• The company declared a quarterly dividend of $1.065 per share, or $4.26 annualized, for a yield of about 3.5%, while analysts currently rate the stock a Moderate Buy with a $140 price target.

iA Global Asset Management Inc. decreased its stake in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 41.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,918 shares of the utilities provider's stock after selling 70,772 shares during the period. iA Global Asset Management Inc.'s holdings in Duke Energy were worth $11,946,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. May Hill Capital LLC boosted its stake in Duke Energy by 91.9% during the fourth quarter. May Hill Capital LLC now owns 5,798 shares of the utilities provider's stock worth $680,000 after acquiring an additional 2,776 shares in the last quarter. Canada Post Corp Registered Pension Plan boosted its stake in Duke Energy by 6.2% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 62,352 shares of the utilities provider's stock worth $7,308,000 after acquiring an additional 3,640 shares in the last quarter. Arbor Trust Wealth Advisors LLC bought a new stake in Duke Energy during the fourth quarter worth about $301,000. Hills Bank & Trust Co boosted its stake in Duke Energy by 27.0% during the fourth quarter. Hills Bank & Trust Co now owns 7,663 shares of the utilities provider's stock worth $898,000 after acquiring an additional 1,629 shares in the last quarter. Finally, Center for Financial Planning Inc. boosted its stake in Duke Energy by 7.5% during the fourth quarter. Center for Financial Planning Inc. now owns 1,473 shares of the utilities provider's stock worth $173,000 after acquiring an additional 103 shares in the last quarter. Institutional investors own 65.31% of the company's stock.

Duke Energy Trading Up 0.0%

Shares of NYSE DUK opened at $120.98 on Monday. The firm's 50 day moving average price is $128.90 and its 200-day moving average price is $124.03. The company has a market cap of $94.31 billion, a PE ratio of 18.53 and a beta of 0.41. Duke Energy Corporation has a 52-week low of $113.39 and a 52-week high of $134.49. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.44 and a current ratio of 0.66.

Duke Energy (NYSE:DUK - Get Free Report) last issued its earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.06. The firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The business's revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.76 earnings per share. On average, equities research analysts expect that Duke Energy Corporation will post 6.7 EPS for the current fiscal year.

Duke Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th will be paid a $1.065 dividend. This represents a $4.26 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, May 15th. Duke Energy's dividend payout ratio is currently 65.24%.

Trending Headlines about Duke Energy

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

• Positive Sentiment: Duke Energy held a groundbreaking ceremony for its Cayuga Energy Complex, signaling continued investment in its generation and infrastructure buildout, which can support future regulated-rate growth. Duke Energy holds a groundbreaking ceremony for their Cayuga Energy Complex
• Positive Sentiment: The company reported that no toxic algae was found at the Lake Norman site after an earlier state finding, which may reduce environmental and reputational concerns. Duke Energy: No toxic algae found at Lake Norman site where state said it was
• Neutral Sentiment: DUK remains a heavily watched stock, with investor attention likely reflecting interest in its defensive utility profile and upcoming rate/regulatory developments. Duke Energy Corporation (DUK) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Reports that Duke Energy’s North Carolina rate-increase hearing was postponed could delay a key catalyst for earnings and cash-flow improvement, but the impact is still uncertain. Duke Energy rate-increase hearing postponed over missed scheduling deadline
• Neutral Sentiment: The company’s claims that a merger will save customers $2.3 billion and news about combining its two North Carolina utilities may help long-term efficiency, but investors are likely waiting to see regulatory details. Duke Energy claims merger to save customers $2.3 billion, double initial estimate
• Negative Sentiment: Questions around North Carolina policy and legal issues tied to Duke Energy’s solar plans could add uncertainty to future capital spending and regulatory approval. Shunning the sunshine? NC order for Duke Energy to hit brakes on solar raises policy, legal questions

Insider Transactions at Duke Energy

In other news, SVP Regis T. Repko sold 962 shares of the company's stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $127.86, for a total value of $123,001.32. Following the transaction, the senior vice president owned 3,896 shares in the company, valued at approximately $498,142.56. This represents a 19.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $2,487,400.00. Following the transaction, the chief executive officer directly owned 96,102 shares of the company's stock, valued at $11,952,205.74. The trade was a 17.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 24,462 shares of company stock worth $3,048,426. Corporate insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective 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. Weiss Ratings reissued a "buy (b)" rating on shares of Duke Energy in a research note on Monday, May 4th. BMO Capital Markets dropped their price objective on shares of Duke Energy from $139.00 to $138.00 in a research note on Wednesday, May 6th. Capitol Sec Mgt lowered shares of Duke Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 10th. Finally, Royal Bank Of Canada dropped their price objective on shares of Duke Energy from $143.00 to $140.00 and set a "sector perform" rating on the stock in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $140.00.

Duke Energy Company 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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