Mirae Asset Global Investments Co. Ltd. Reduces Stock Holdings in Duke Energy Corporation $DUK

Key Points

• Mirae Asset Global Investments Co. Ltd. has reduced its stake in Duke Energy Corporation by 24.7%, resulting in ownership of 101,257 shares, valued at approximately $11.95 million.
• Duke Energy reported earnings per share of $1.25 for the quarter, missing estimates, but its revenue increased 4.7% year-over-year to $7.51 billion.
• The company recently increased its quarterly dividend to $1.065 per share, reflecting a yield of 3.4% and an annualized payout of $4.26.

Mirae Asset Global Investments Co. Ltd. reduced its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 24.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,257 shares of the utilities provider's stock after selling 33,260 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Duke Energy were worth $11,948,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in DUK. Activest Wealth Management increased its stake in Duke Energy by 98.1% in the first quarter. Activest Wealth Management now owns 212 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 105 shares during the last quarter. Wayfinding Financial LLC purchased a new position in shares of Duke Energy during the first quarter worth approximately $27,000. N.E.W. Advisory Services LLC purchased a new position in shares of Duke Energy during the first quarter worth approximately $27,000. Financial Network Wealth Advisors LLC grew its position in shares of Duke Energy by 360.0% during the first quarter. Financial Network Wealth Advisors LLC now owns 253 shares of the utilities provider's stock worth $31,000 after acquiring an additional 198 shares during the last quarter. Finally, Saudi Central Bank purchased a new position in shares of Duke Energy during the first quarter worth approximately $37,000. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Trading Up 1.7%

Shares of DUK stock opened at $123.58 on Friday. The firm has a 50-day moving average price of $122.58 and a 200 day moving average price of $119.62. Duke Energy Corporation has a twelve month low of $105.20 and a twelve month high of $127.85. The company has a market capitalization of $96.10 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 2.98 and a beta of 0.44. The company has a current ratio of 0.66, a quick ratio of 0.42 and a debt-to-equity ratio of 1.55.

Duke Energy (NYSE:DUK - Get Free Report) last announced its earnings results on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.04). Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. The firm had revenue of $7.51 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same period in the previous year, the firm posted $1.18 EPS. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. 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 declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th were issued a $1.065 dividend. This is a positive change from Duke Energy's previous quarterly dividend of $1.05. The ex-dividend date was Friday, August 15th. This represents a $4.26 annualized dividend and a yield of 3.4%. Duke Energy's dividend payout ratio (DPR) is presently 69.27%.

Insider Activity

In other Duke Energy news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of Duke Energy stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $124.26, for a total value of $832,542.00. Following the completion of the sale, the executive vice president owned 46,422 shares in the company, valued at $5,768,397.72. The trade was a 12.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Bonnie B. Titone sold 2,000 shares of Duke Energy 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 owned 19,608 shares of the company's stock, valued at $2,438,843.04. This trade represents a 9.26% decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on DUK shares. JPMorgan Chase & Co. raised their target price on shares of Duke Energy from $127.00 to $131.00 and gave the stock a "neutral" rating in a research report on Thursday, August 21st. Scotiabank set a $137.00 target price on Duke Energy and gave the company a "sector outperform" rating in a report on Friday. UBS Group reissued a "neutral" rating and issued a $127.00 target price (up previously from $124.00) on shares of Duke Energy in a report on Friday, July 11th. Raymond James Financial assumed coverage on Duke Energy in a research note on Friday, June 13th. They set a "market perform" rating for the company. Finally, The Goldman Sachs Group set a $132.00 price target on Duke Energy in a research note on Tuesday, July 1st. Nine investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $132.25.

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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