Payden & Rygel Sells 61,200 Shares of Duke Energy Corporation $DUK

Key Points

• Payden & Rygel cut its Duke Energy stake by 24.4% in the fourth quarter, selling 61,200 shares and leaving it with 189,690 shares worth about $22.2 million.
• Insider selling has also picked up: CEO Harry K. Sideris and CEO Louis E. Renjel recently sold shares, and insiders sold 24,462 shares worth about $3.0 million over the last quarter.
• Duke Energy posted solid quarterly results and continues to pay a dividend: earnings and revenue beat estimates, while the company declared a quarterly dividend of $1.065 per share, implying a 3.5% yield.

Payden & Rygel lowered its stake in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 24.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,690 shares of the utilities provider's stock after selling 61,200 shares during the period. Duke Energy accounts for about 1.5% of Payden & Rygel's investment portfolio, making the stock its 16th largest position. Payden & Rygel's holdings in Duke Energy were worth $22,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of DUK. Dorato Capital Management bought a new stake in shares of Duke Energy during the fourth quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Duke Energy during the third quarter valued at approximately $27,000. Lodestone Wealth Management LLC bought a new stake in shares of Duke Energy in the fourth quarter worth about $30,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of Duke Energy by 300.0% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 280 shares of the utilities provider's stock worth $33,000 after purchasing an additional 210 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its holdings in shares of Duke Energy by 13,750.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 277 shares of the utilities provider's stock worth $33,000 after purchasing an additional 275 shares during the last quarter. Institutional investors own 65.31% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Duke Energy in a report on Monday, May 4th. Wall Street Zen raised Duke Energy from a "sell" rating to a "hold" rating in a report on Saturday, March 28th. Morgan Stanley reduced their target price on Duke Energy from $142.00 to $141.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 21st. Royal Bank Of Canada reduced their price target on shares of Duke Energy from $143.00 to $140.00 and set a "sector perform" rating on the stock in a research report on Friday, January 23rd. Finally, Wells Fargo & Company boosted their price target on shares of Duke Energy from $135.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Monday, April 20th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $139.67.

Insider Buying and Selling at Duke Energy

In other Duke Energy news, CEO Harry K. Sideris sold 20,000 shares of the business's stock in a transaction 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 transaction, the chief executive officer owned 96,102 shares in the company, valued at $11,952,205.74. The trade was a 17.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Louis E. Renjel sold 3,500 shares of the business's stock in a transaction 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 transaction, the chief executive officer owned 21,415 shares in the company, valued at $2,680,087.25. This trade represents a 14.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,462 shares of company stock worth $3,048,426 over the last quarter. Insiders own 0.12% of the company's stock.

Duke Energy Trading Up 1.5%

Shares of NYSE DUK opened at $122.80 on Tuesday. The business's 50 day moving average is $128.72 and its two-hundred day moving average is $124.01. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.66 and a quick ratio of 0.44. Duke Energy Corporation has a 1-year low of $113.39 and a 1-year high of $134.49. The stock has a market capitalization of $95.73 billion, a P/E ratio of 18.81 and a beta of 0.41.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.06. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The company had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.44 billion. During the same period in the previous year, the firm posted $1.76 earnings per share. The firm's revenue for the quarter was up 11.3% on a year-over-year basis. As a group, research analysts expect that Duke Energy Corporation will post 6.7 EPS for the current year.

Duke Energy Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.5%. Duke Energy's payout ratio is 65.24%.

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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