NorthCrest Asset Manangement LLC Decreases Position in Duke Energy Corporation $DUK

Key Points

• NorthCrest Asset Management LLC has reduced its stake in Duke Energy Corporation by 5.6%, now holding 167,932 shares worth approximately $19.7 million.
• Duke Energy's latest quarterly earnings reported an EPS of $1.25, missing estimates, but with revenue of $7.51 billion, exceeding expectations.
• The company increased its quarterly dividend from $1.05 to $1.065, reflecting a strong commitment to returning value to shareholders.

NorthCrest Asset Manangement LLC decreased its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 5.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,932 shares of the utilities provider's stock after selling 10,046 shares during the period. NorthCrest Asset Manangement LLC's holdings in Duke Energy were worth $19,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Activest Wealth Management raised its stake in Duke Energy by 98.1% in the 1st quarter. Activest Wealth Management now owns 212 shares of the utilities provider's stock worth $26,000 after acquiring an additional 105 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Duke Energy during the 1st quarter worth about $27,000. Wayfinding Financial LLC acquired a new stake in Duke Energy during the 1st quarter worth about $27,000. Mattson Financial Services LLC acquired a new stake in Duke Energy during the 4th quarter worth about $28,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in Duke Energy during the 4th quarter worth about $27,000. Hedge funds and other institutional investors own 65.31% of the company's stock.

Duke Energy Stock Up 0.6%

DUK stock opened at $120.95 on Thursday. The firm has a market cap of $94.05 billion, a PE ratio of 19.67, a PEG ratio of 2.90 and a beta of 0.39. 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 firm's 50 day moving average price is $121.67 and its 200-day moving average price is $119.24. Duke Energy Corporation has a one year low of $105.20 and a one year high of $127.85.

Duke Energy (NYSE:DUK - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $1.25 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.04). The firm had revenue of $7.51 billion for the quarter, compared to analysts' expectations of $7.07 billion. Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. The firm's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.18 EPS. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. On average, equities research analysts anticipate that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 15th were issued a $1.065 dividend. This is a boost 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 3.5%. Duke Energy's payout ratio is 69.27%.

Analyst Ratings Changes

DUK has been the topic of several analyst reports. Scotiabank increased their price target on Duke Energy from $120.00 to $128.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 6th. Raymond James Financial began coverage on Duke Energy in a research report on Friday, June 13th. They set a "market perform" rating on the stock. JPMorgan Chase & Co. raised their target price on Duke Energy from $127.00 to $131.00 and gave the company a "neutral" rating in a research report on Thursday, August 21st. UBS Group restated a "neutral" rating and set a $127.00 target price (up from $124.00) on shares of Duke Energy in a research report on Friday, July 11th. Finally, Barclays raised their target price on Duke Energy from $122.00 to $131.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Nine analysts have rated the stock with a Buy rating and five 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 a consensus target price of $130.62.

Insider Activity at Duke Energy

In related news, SVP Bonnie B. Titone sold 2,000 shares of Duke Energy stock in a transaction that occurred on 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 in the company, valued at approximately $2,438,843.04. This trade represents a 9.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of Duke Energy stock in a transaction that occurred on 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 $5,768,397.72. This trade represents a 12.61% decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Duke Energy 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.