Macquarie Group Ltd. Trims Stock Holdings in Duke Energy Corporation $DUK

Key Points

• Macquarie Group sharply cut its Duke Energy stake in the fourth quarter, selling 5.73 million shares and reducing its holdings by 91.4% to 537,305 shares worth about $63 million.
• Duke Energy’s latest quarter beat expectations, posting EPS of $1.93 versus the $1.87 estimate and revenue of $9.18 billion, with revenue up 11.3% year over year.
• The company also announced a quarterly dividend of $1.065 per share payable June 16, implying an annualized yield of about 3.4%; analysts currently rate the stock a Moderate Buy on average.

Macquarie Group Ltd. decreased its holdings in Duke Energy Corporation (NYSE:DUK - Free Report) by 91.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 537,305 shares of the utilities provider's stock after selling 5,729,557 shares during the period. Macquarie Group Ltd. owned 0.07% of Duke Energy worth $62,978,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Dorato Capital Management purchased a new position in shares of Duke Energy in the fourth quarter worth about $26,000. Evolution Wealth Management Inc. increased its stake in shares of Duke Energy by 1,111.1% in the fourth quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider's stock worth $26,000 after purchasing an additional 200 shares in the last quarter. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Duke Energy in the third quarter worth about $27,000. Triumph Capital Management increased its stake in shares of Duke Energy by 68.6% in the fourth quarter. Triumph Capital Management now owns 231 shares of the utilities provider's stock worth $27,000 after purchasing an additional 94 shares in the last quarter. Finally, Lodestone Wealth Management LLC purchased a new position in shares of Duke Energy in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 65.31% of the company's stock.

Analysts Set New Price Targets

DUK has been the subject of several recent research reports. Barclays lifted their target price on shares of Duke Energy from $127.00 to $143.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 7th. UBS Group cut their price objective on shares of Duke Energy from $137.00 to $135.00 in a research report on Monday, May 11th. Capitol Sec Mgt lowered shares of Duke Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 10th. Wall Street Zen upgraded shares of Duke Energy from a "sell" rating to a "hold" rating in a research report on Saturday, March 28th. Finally, BTIG Research restated a "buy" rating and issued a $139.00 price objective on shares of Duke Energy in a research report on Tuesday, June 2nd. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, Duke Energy presently has an average rating of "Moderate Buy" and an average price target of $138.93.

Duke Energy Trading Up 0.6%

Shares of Duke Energy stock opened at $124.91 on Friday. Duke Energy Corporation has a 1 year low of $113.66 and a 1 year high of $134.49. The firm has a market cap of $97.38 billion, a PE ratio of 19.13 and a beta of 0.39. 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 company has a 50 day simple moving average of $126.16 and a two-hundred day simple moving average of $124.01.

Duke Energy (NYSE:DUK - Get Free Report) last announced its earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.06. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period in the previous year, the business posted $1.76 earnings per share. Duke Energy's revenue for the quarter was up 11.3% on a year-over-year basis. Analysts expect that Duke Energy Corporation will post 6.71 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

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

Insider Activity at Duke Energy

In other Duke Energy news, CEO Louis E. Renjel sold 3,500 shares of Duke Energy stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $125.15, for a total transaction of $438,025.00. Following the completion of the sale, the chief executive officer directly owned 21,415 shares in the company, valued at $2,680,087.25. The trade was a 14.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Harry K. Sideris sold 20,000 shares of Duke Energy 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 sale, the chief executive officer 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.12% of the company's stock.

Key Stories Impacting Duke Energy

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

• Positive Sentiment: Analysts and market commentary are highlighting Duke Energy as a defensive, low-volatility utility pick as inflation jumps and oil prices surge, which can draw investors toward stable dividend names like DUK. 3 Low-Beta Utility Stocks to Buy as Inflation Jumps to Three-Year High
• Positive Sentiment: A Seeking Alpha piece argues Duke Energy could keep rising, reinforcing bullish sentiment around the company’s earnings outlook, utility stability, and rate-driven growth profile. Duke Energy: Why This Utility Could Keep Rising
• Positive Sentiment: Duke Energy received up to $96 million in federal coal plant grants, which could help offset refurbishment costs and support grid reliability without passing as much expense to customers. How Investors Are Reacting To Duke Energy (DUK) Winning US$96 Million In Federal Coal Plant Grants
• Positive Sentiment: Brokerage coverage remains constructive, with Duke Energy carrying an average “Moderate Buy” recommendation. Duke Energy Corporation NYSE: DUK Given Average Recommendation of "Moderate Buy" by Brokerages

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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