Jones Financial Companies Lllp Trims Position in Duke Energy Corporation $DUK

Key Points

• Jones Financial Companies Lllp significantly reduced its stake in Duke Energy Corporation by 82.9%, selling 424,027 shares to hold a total of 87,494 shares worth approximately $10.6 million at the end of Q1.
• Duke Energy reported an EPS of $1.25 for the latest quarter, falling short of the analyst consensus estimate of $1.29, but its revenue increased to $7.51 billion, exceeding expectations.
• The company recently raised its quarterly dividend from $1.05 to $1.065 per share, reflecting a 3.5% yield and a payout ratio of 69.27%.

Jones Financial Companies Lllp trimmed its holdings in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 82.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,494 shares of the utilities provider's stock after selling 424,027 shares during the period. Jones Financial Companies Lllp's holdings in Duke Energy were worth $10,611,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Duke Energy by 2.3% during the first quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider's stock valued at $9,094,327,000 after purchasing an additional 1,676,061 shares during the period. GQG Partners LLC raised its stake in shares of Duke Energy by 17,880.0% during the 1st quarter. GQG Partners LLC now owns 10,249,508 shares of the utilities provider's stock valued at $1,250,133,000 after buying an additional 10,192,503 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Duke Energy by 4.9% in the 1st quarter. Royal Bank of Canada now owns 8,921,517 shares of the utilities provider's stock valued at $1,088,158,000 after buying an additional 418,014 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Duke Energy by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 8,656,244 shares of the utilities provider's stock worth $1,055,087,000 after buying an additional 93,699 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Duke Energy by 1.9% during the first quarter. Northern Trust Corp now owns 8,153,615 shares of the utilities provider's stock worth $994,496,000 after acquiring an additional 152,542 shares during the period. Hedge funds and other institutional investors own 65.31% of the company's stock.

Duke Energy Stock Performance

NYSE:DUK opened at $120.21 on Tuesday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.42 and a current ratio of 0.66. The stock has a market capitalization of $93.47 billion, a PE ratio of 19.55, a P/E/G ratio of 2.91 and a beta of 0.39. Duke Energy Corporation has a fifty-two week low of $105.20 and a fifty-two week high of $127.85. The company has a fifty day moving average of $121.12 and a two-hundred day moving average of $119.04.

Duke Energy (NYSE:DUK - Get Free Report) last released its earnings results on Tuesday, August 5th. The utilities provider reported $1.25 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 company had revenue of $7.51 billion for the quarter, compared to analysts' expectations of $7.07 billion. During the same period in the prior year, the firm earned $1.18 EPS. The firm'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. As a group, research analysts forecast that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be paid a dividend of $1.065 per share. This is a boost from Duke Energy's previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.26 annualized dividend and a yield of 3.5%. Duke Energy's dividend payout ratio is presently 69.27%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Scotiabank boosted their price target on Duke Energy from $120.00 to $128.00 and gave the company a "sector perform" rating in a report on Wednesday, August 6th. BMO Capital Markets boosted their target price on shares of Duke Energy from $131.00 to $132.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Barclays increased their price target on shares of Duke Energy from $122.00 to $131.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. The Goldman Sachs Group set a $132.00 price objective on shares of Duke Energy in a report on Tuesday, July 1st. Finally, Morgan Stanley reissued an "outperform" rating on shares of Duke Energy in a research note on Thursday, August 21st. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $130.62.

Insiders Place Their Bets

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

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.

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