Rafferty Asset Management LLC Cuts Stock Holdings in Duke Energy Corporation $DUK

Key Points

• Rafferty Asset Management LLC reduced its stake in Duke Energy Corporation by 19.5%, owning 69,829 shares valued at $8.5 million after selling 16,900 shares in the first quarter.
• Institutional investors are actively trading Duke Energy, with GQG Partners LLC increasing its position by an extraordinary 17,880%, now holding over $1.25 billion in shares.
• Duke Energy announced a quarterly dividend increase to $1.065 per share, reflecting a 3.4% yield and a dividend payout ratio of 69.27%.

Rafferty Asset Management LLC cut its holdings in Duke Energy Corporation (NYSE:DUK - Free Report) by 19.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 69,829 shares of the utilities provider's stock after selling 16,900 shares during the quarter. Rafferty Asset Management LLC's holdings in Duke Energy were worth $8,517,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Duke Energy by 2.3% in the first quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider's stock valued at $9,094,327,000 after buying an additional 1,676,061 shares during the period. GQG Partners LLC lifted its stake in Duke Energy by 17,880.0% in the first quarter. GQG Partners LLC now owns 10,249,508 shares of the utilities provider's stock valued at $1,250,133,000 after buying an additional 10,192,503 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Duke Energy by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 8,656,244 shares of the utilities provider's stock valued at $1,055,087,000 after buying an additional 93,699 shares during the period. Royal Bank of Canada lifted its stake in Duke Energy by 4.4% in the fourth quarter. Royal Bank of Canada now owns 8,503,503 shares of the utilities provider's stock valued at $916,168,000 after buying an additional 357,967 shares during the period. Finally, Northern Trust Corp lifted its stake in Duke Energy by 1.9% in the first quarter. Northern Trust Corp now owns 8,153,615 shares of the utilities provider's stock valued at $994,496,000 after buying an additional 152,542 shares during the period. 65.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of Duke Energy stock in a transaction dated 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 sale, the executive vice president owned 46,422 shares of the company's stock, valued at approximately $5,768,397.72. This trade represents a 12.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Bonnie B. Titone sold 2,000 shares of Duke Energy stock in a transaction dated Wednesday, August 20th. The stock was 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 directly owned 19,608 shares of the company's stock, valued at approximately $2,438,843.04. This trade represents a 9.26% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company's stock.

Duke Energy Stock Performance

Shares of Duke Energy stock traded up $0.08 during trading hours on Monday, hitting $122.45. 2,151,177 shares of the company's stock traded hands, compared to its average volume of 3,161,989. Duke Energy Corporation has a 12-month low of $105.20 and a 12-month high of $127.85. The stock has a market capitalization of $95.22 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 2.96 and a beta of 0.39. The company has a fifty day simple moving average of $120.59 and a 200-day simple moving average of $118.67. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.66 and a quick ratio of 0.42.

Duke Energy (NYSE:DUK - Get Free Report) last announced its earnings results on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share (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 business had revenue of $7.51 billion for the quarter, compared to analysts' expectations of $7.07 billion. During the same period in the prior year, the business earned $1.18 earnings per share. The company'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. Equities research analysts anticipate that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be issued a $1.065 dividend. This is an increase 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 annualized dividend and a yield of 3.5%. Duke Energy's payout ratio is 69.27%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DUK. The Goldman Sachs Group set a $132.00 target price on Duke Energy in a research report on Tuesday, July 1st. Scotiabank boosted their price target on shares of Duke Energy from $120.00 to $128.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 6th. Barclays boosted their price objective on Duke Energy from $122.00 to $131.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. boosted their price objective on Duke Energy from $127.00 to $131.00 and gave the stock a "neutral" rating in a report on Thursday, August 21st. Finally, Raymond James Financial began coverage on Duke Energy in a research report on Friday, June 13th. They issued a "market perform" rating for the company. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Duke Energy has an average rating of "Moderate Buy" and a consensus target price of $130.62.

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.