Nordea Investment Management AB Sells 278,932 Shares of Duke Energy Corporation $DUK

Key Points

• Nordea Investment Management AB reduced its stake in Duke Energy by 27.6%, selling 278,932 shares, and currently holds approximately 0.09% of the company valued at $85.68 million.
• The company's quarterly earnings report revealed an EPS of $1.25, falling short of the consensus estimate of $1.29, while revenue increased 4.7% year-over-year to $7.51 billion.
• Duke Energy recently announced a $1.065 quarterly dividend, with a distribution date set for December 16th, showcasing a yield of 3.3% and a payout ratio of 69.27%.

Nordea Investment Management AB trimmed its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 27.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 733,420 shares of the utilities provider's stock after selling 278,932 shares during the period. Nordea Investment Management AB owned about 0.09% of Duke Energy worth $85,682,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DUK. GQG Partners LLC grew its position 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 acquiring an additional 10,192,503 shares during the period. Nuveen LLC bought a new position in shares of Duke Energy during the 1st quarter valued at approximately $702,351,000. Raymond James Financial Inc. grew its position in shares of Duke Energy by 88.1% during the 1st quarter. Raymond James Financial Inc. now owns 4,861,309 shares of the utilities provider's stock valued at $592,934,000 after acquiring an additional 2,276,948 shares during the period. Vanguard Group Inc. grew its position in shares of Duke Energy by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider's stock valued at $9,094,327,000 after acquiring an additional 1,676,061 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of Duke Energy by 359.1% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,132,613 shares of the utilities provider's stock valued at $138,145,000 after acquiring an additional 885,900 shares during the period. 65.31% of the stock is owned by institutional investors.

Insider Activity at Duke Energy

In other Duke Energy news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $124.26, for a total value of $832,542.00. Following the sale, the executive vice president directly owned 46,422 shares in the company, valued at $5,768,397.72. This represents a 12.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Bonnie B. Titone sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was 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 in the company, valued at $2,438,843.04. This represents a 9.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company's stock.

Duke Energy Stock Up 0.9%

DUK opened at $128.55 on Friday. The company has a 50 day moving average of $123.34 and a 200 day moving average of $120.13. The company has a market cap of $99.96 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 3.16 and a beta of 0.44. Duke Energy Corporation has a 12 month low of $105.20 and a 12 month high of $129.51. 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 released its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $1.25 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.04). Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The business had revenue of $7.51 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same period last year, the business posted $1.18 earnings per share. The firm's quarterly revenue was up 4.7% on a year-over-year basis. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. On average, sell-side analysts expect that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be paid a $1.065 dividend. The ex-dividend date is Friday, November 14th. This represents a $4.26 annualized dividend and a yield of 3.3%. Duke Energy's dividend payout ratio is currently 69.27%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DUK. Barclays increased their target price on shares of Duke Energy from $131.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday. BMO Capital Markets increased their target price on shares of Duke Energy from $132.00 to $135.00 and gave the company an "outperform" rating in a research report on Friday, October 10th. Scotiabank set a $137.00 target price on shares of Duke Energy and gave the company a "sector outperform" rating in a research report on Friday, October 3rd. The Goldman Sachs Group set a $132.00 price objective on shares of Duke Energy in a report on Tuesday, July 1st. Finally, Evercore ISI began coverage on shares of Duke Energy in a report on Monday, October 6th. They issued an "outperform" rating and a $143.00 price objective for the company. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $136.77.

About Duke Energy

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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