Kovitz Investment Group Partners LLC Lowers Stock Position in Duke Energy Corporation $DUK

Key Points

• Kovitz Investment Group Partners cut its Duke Energy stake by 39.4% in the fourth quarter, selling 21,056 shares and leaving it with 32,357 shares valued at about $3.79 million.
• Duke Energy beat earnings and revenue estimates in its latest quarterly report, posting $1.93 EPS versus $1.87 expected and $9.18 billion in revenue versus $8.44 billion expected. Revenue rose 11.3% year over year.
• The company recently paid a quarterly dividend of $1.065 per share, implying an annualized payout of $4.26 and a 3.4% yield. Analyst sentiment remains broadly positive, with a consensus rating of Moderate Buy and a price target of $138.07.

Kovitz Investment Group Partners LLC decreased its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 39.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,357 shares of the utilities provider's stock after selling 21,056 shares during the period. Kovitz Investment Group Partners LLC's holdings in Duke Energy were worth $3,793,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of DUK. Vanguard Group Inc. raised its stake in shares of Duke Energy by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider's stock worth $9,172,709,000 after buying an additional 1,957,592 shares during the period. Geode Capital Management LLC increased its holdings in Duke Energy by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 19,292,633 shares of the utilities provider's stock worth $2,266,675,000 after acquiring an additional 230,375 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Duke Energy by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,931,127 shares of the utilities provider's stock worth $1,046,818,000 after acquiring an additional 58,375 shares in the last quarter. Franklin Resources Inc. raised its position in Duke Energy by 13.1% during the fourth quarter. Franklin Resources Inc. now owns 8,236,893 shares of the utilities provider's stock worth $965,446,000 after acquiring an additional 954,907 shares during the period. Finally, Northern Trust Corp lifted its holdings in Duke Energy by 0.4% during the third quarter. Northern Trust Corp now owns 7,758,700 shares of the utilities provider's stock valued at $960,139,000 after purchasing an additional 31,703 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company's stock.

Duke Energy Stock Down 0.0%

Shares of NYSE DUK opened at $123.84 on Friday. The stock has a market cap of $96.55 billion, a PE ratio of 18.97 and a beta of 0.39. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. Duke Energy Corporation has a 12-month low of $113.89 and a 12-month high of $134.49. The company has a 50-day moving average of $125.43 and a 200 day moving average of $124.06.

Duke Energy (NYSE:DUK - Get Free Report) last released its earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.87 by $0.06. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates 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 period last year, the company posted $1.76 EPS. As a group, sell-side analysts predict that Duke Energy Corporation will post 6.71 EPS for the current fiscal year.

Duke Energy Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DUK. BTIG Research reiterated a "buy" rating and issued a $139.00 target price on shares of Duke Energy in a research report on Tuesday, June 2nd. Weiss Ratings restated a "buy (b)" rating on shares of Duke Energy in a research report on Monday, May 4th. Wall Street Zen upgraded Duke Energy from a "sell" rating to a "hold" rating in a report on Saturday, March 28th. Wells Fargo & Company boosted their price objective on Duke Energy from $135.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Monday, April 20th. Finally, Capitol Sec Mgt cut Duke Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, April 10th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, Duke Energy presently has an average rating of "Moderate Buy" and a consensus price target of $138.07.

Trending Headlines about Duke Energy

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

• Positive Sentiment: Duke Energy is being highlighted as one of the large-cap dividend stocks that retirees are quietly buying, reinforcing its appeal as a steady income name for investors looking for yield and defensive cash flow. 3 Stocks Retirees Are Quietly Loading Up on in June
• Positive Sentiment: Another article also grouped Duke Energy with other utility stocks viewed as sources of passive income, which may support investor interest in the stock’s defensive dividend profile. 3 Utility Stocks For Years of Passive Income
• Positive Sentiment: Mizuho lowered its price target on Duke Energy only modestly to $135 from $139 while keeping an outperform rating, suggesting analysts still see upside from current levels. Mizuho PT Lowered to $135 at Mizuho
• Neutral Sentiment: Duke Energy Florida issued a customer energy-use reminder ahead of summer, which is routine utility communications and not likely to materially move the stock. Summer starts June 21: Duke Energy Florida highlights five key appliances to help customers manage energy use
• Neutral Sentiment: Several local outage reports and safety demonstrations are operational headlines that reflect day-to-day utility issues rather than a major change in Duke Energy’s earnings outlook. Duke Energy: Hundreds of customers without power in Greenville County
• Negative Sentiment: Coverage about a regulator sitting out Duke Energy carbon plan decisions and a separate story about a city examining whether to leave the utility add a bit of regulatory and political uncertainty. Pro-coal state regulator won’t participate in Duke Energy Carbon Plan decisions
• Negative Sentiment: Recent trading commentary noted that Duke Energy has been declining more than the broader market, indicating some near-term pressure on shares. Duke Energy (DUK) Declines More Than Market: Some Information for Investors

Insider Buying and Selling at Duke Energy

In other Duke Energy news, CEO Harry K. Sideris sold 20,000 shares of the company'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 sale, the chief executive officer directly owned 96,102 shares in the company, valued at $11,952,205.74. This represents a 17.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Louis E. Renjel sold 3,500 shares of the firm's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $125.15, for a total value of $438,025.00. Following the completion of the sale, the chief executive officer directly owned 21,415 shares of the company's stock, valued at $2,680,087.25. This trade represents a 14.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is owned by corporate insiders.

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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