Duke Energy Corporation $DUK Shares Sold by Oak Grove Capital LLC

Key Points

• Oak Grove Capital LLC decreased its stake in Duke Energy by 10.9% during the 1st quarter, selling 9,750 shares to hold a total of 79,990 shares, which is approximately 2.0% of its portfolio.
• Duke Energy's quarterly earnings showed an EPS of $1.25, missing analysts’ expectations, while revenue increased by 4.7% year-over-year to $7.51 billion.
• The company recently announced a quarterly dividend increase to $1.065, marking a rise from the previous dividend of $1.05, with a yield of 3.4% based on the current share price.

Oak Grove Capital LLC trimmed its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 10.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,990 shares of the utilities provider's stock after selling 9,750 shares during the period. Duke Energy makes up about 2.0% of Oak Grove Capital LLC's holdings, making the stock its 13th biggest position. Oak Grove Capital LLC's holdings in Duke Energy were worth $9,756,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DUK. Investment Management Corp of Ontario boosted its position in shares of Duke Energy by 212.8% during the 4th quarter. Investment Management Corp of Ontario now owns 79,989 shares of the utilities provider's stock worth $8,618,000 after purchasing an additional 54,413 shares in the last quarter. Andrew Hill Investment Advisors Inc. boosted its position in shares of Duke Energy by 338.6% during the 1st quarter. Andrew Hill Investment Advisors Inc. now owns 37,763 shares of the utilities provider's stock worth $4,606,000 after purchasing an additional 29,153 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Duke Energy by 7.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 291,667 shares of the utilities provider's stock worth $35,575,000 after purchasing an additional 20,942 shares in the last quarter. Pinnacle Financial Partners Inc boosted its position in shares of Duke Energy by 9.9% during the 1st quarter. Pinnacle Financial Partners Inc now owns 127,419 shares of the utilities provider's stock worth $14,451,000 after purchasing an additional 11,445 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. boosted its position in shares of Duke Energy by 8.1% during the 1st quarter. Beacon Investment Advisory Services Inc. now owns 51,354 shares of the utilities provider's stock worth $6,264,000 after purchasing an additional 3,837 shares in the last quarter. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Duke Energy news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the company's stock in a transaction that occurred on 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 transaction, the executive vice president 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Duke Energy Trading Up 1.8%

Shares of NYSE DUK traded up $2.2450 on Tuesday, reaching $123.7050. 2,877,399 shares of the company traded hands, compared to its average volume of 3,600,198. Duke Energy Corporation has a fifty-two week low of $105.20 and a fifty-two week high of $127.85. The company has a 50 day moving average of $119.19 and a 200 day moving average of $118.11. The company has a current ratio of 0.66, a quick ratio of 0.42 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $96.20 billion, a PE ratio of 20.11, a P/E/G ratio of 2.95 and a beta of 0.36.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on DUK shares. Scotiabank boosted their price objective on shares of 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 started coverage on shares of Duke Energy in a research report on Friday, June 13th. They issued a "market perform" rating on the stock. Citigroup boosted their price objective on shares of Duke Energy from $130.00 to $142.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. UBS Group reiterated a "neutral" rating and issued a $127.00 price objective (up from $124.00) on shares of Duke Energy in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Duke Energy from $122.00 to $127.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Duke Energy has a consensus rating of "Moderate Buy" and a consensus target price of $129.80.

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.