Price T Rowe Associates Inc. MD Has $160.69 Million Position in Duke Energy Corporation $DUK

Key Points

• Price T Rowe Associates Inc. reduced its stake in Duke Energy Corporation by 5.2%, now holding approximately 1.32 million shares valued at about $160.69 million.
• Duke Energy recently announced an increase in its quarterly dividend to $1.065 per share, leading to an annual yield of 3.4%.
• The company's latest earnings report showed a slight miss on EPS estimates, reported at $1.25 compared to expectations of $1.29, but revenue exceeded estimates at $7.51 billion.

Price T Rowe Associates Inc. MD reduced its position in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 5.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,317,476 shares of the utilities provider's stock after selling 72,516 shares during the period. Price T Rowe Associates Inc. MD owned about 0.17% of Duke Energy worth $160,693,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of DUK. GQG Partners LLC boosted its position in shares of Duke Energy by 17,880.0% during the first quarter. GQG Partners LLC now owns 10,249,508 shares of the utilities provider's stock worth $1,250,133,000 after buying an additional 10,192,503 shares during the period. Nuveen LLC acquired a new position in shares of Duke Energy during the first quarter worth about $702,351,000. Raymond James Financial Inc. boosted its position in shares of Duke Energy by 88.1% during the first quarter. Raymond James Financial Inc. now owns 4,861,309 shares of the utilities provider's stock worth $592,934,000 after buying an additional 2,276,948 shares during the period. Vanguard Group Inc. boosted its position in shares of Duke Energy by 2.3% during the first quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider's stock worth $9,094,327,000 after buying an additional 1,676,061 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Duke Energy by 14,268.8% during the first quarter. GAMMA Investing LLC now owns 1,663,183 shares of the utilities provider's stock worth $202,858,000 after buying an additional 1,651,608 shares during the period. 65.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Duke Energy

In other 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 transaction, the executive vice president owned 46,422 shares of the company's stock, valued at approximately $5,768,397.72. This represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Bonnie B. Titone sold 2,000 shares of the company's 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 transaction, the senior vice president directly owned 19,608 shares in the company, valued at $2,438,843.04. The trade was a 9.26% decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Duke Energy Stock Performance

NYSE:DUK traded down $1.18 on Thursday, hitting $122.50. The company's stock had a trading volume of 2,496,426 shares, compared to its average volume of 3,558,523. 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 fifty day moving average of $120.29 and a two-hundred day moving average of $118.54. The firm has a market capitalization of $95.26 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 2.97 and a beta of 0.36. 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 posted its 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). 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 company posted $1.18 EPS. Duke Energy'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 predict that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be given a $1.065 dividend. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Duke Energy's previous quarterly dividend of $1.05. This represents a $4.26 annualized dividend and a dividend yield of 3.5%. Duke Energy's dividend payout ratio (DPR) is currently 69.27%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Scotiabank upped their price objective 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. BMO Capital Markets upped their target price on Duke Energy from $131.00 to $132.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Wells Fargo & Company upped their target price on Duke Energy from $127.00 to $138.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Morgan Stanley reiterated an "outperform" rating on shares of Duke Energy in a report on Thursday, August 21st. Finally, JPMorgan Chase & Co. upped their target price on Duke Energy from $127.00 to $131.00 and gave the stock a "neutral" rating in a report on Thursday, August 21st. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Duke Energy currently has an average rating of "Moderate Buy" and a consensus price target of $130.07.

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.