Renaissance Technologies LLC Sells 315,050 Shares of Duke Energy Corporation $DUK

Key Points

• Renaissance Technologies reduced its Duke Energy stake by 99.1%, selling 315,050 shares and retaining just 2,800 shares valued at approximately $367,000. Institutional investors overall own 65.31% of the company.
• Duke Energy reported quarterly earnings of $1.43 per share, beating estimates of $1.30, while revenue rose 1.1% year over year to $7.59 billion.
• The company raised its quarterly dividend to $1.085 per share, implying a 3.5% yield, and analysts maintain a “Moderate Buy” consensus with an average price target of $138.25.

Renaissance Technologies LLC cut its holdings in Duke Energy Corporation (NYSE:DUK - Free Report) by 99.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,800 shares of the utilities provider's stock after selling 315,050 shares during the quarter. Renaissance Technologies LLC's holdings in Duke Energy were worth $367,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in DUK. Basso Capital Management L.P. bought a new stake in Duke Energy in the fourth quarter worth $25,000. Evolution Wealth Management Inc. raised its holdings in Duke Energy by 1,111.1% during the fourth quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider's stock valued at $26,000 after buying an additional 200 shares in the last quarter. Triumph Capital Management raised its holdings in Duke Energy by 68.6% during the fourth quarter. Triumph Capital Management now owns 231 shares of the utilities provider's stock valued at $27,000 after buying an additional 94 shares in the last quarter. Cornerstone Financial Management LLC acquired a new stake in shares of Duke Energy in the fourth quarter worth about $28,000. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Duke Energy by 300.0% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 280 shares of the utilities provider's stock worth $33,000 after acquiring an additional 210 shares in the last quarter. 65.31% of the stock is owned by institutional investors.

Duke Energy Stock Performance

DUK opened at $123.98 on Wednesday. The stock's 50 day simple moving average is $125.80 and its 200-day simple moving average is $126.64. The company has a current ratio of 0.66, a quick ratio of 0.43 and a debt-to-equity ratio of 1.47. The stock has a market cap of $96.67 billion, a PE ratio of 18.62, a P/E/G ratio of 2.73 and a beta of 0.38. Duke Energy Corporation has a 1 year low of $113.89 and a 1 year high of $134.49.

Duke Energy (NYSE:DUK - Get Free Report) last issued its earnings results on Monday, August 3rd. The utilities provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.13. The business had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.66 billion. Duke Energy had a net margin of 15.78% and a return on equity of 9.78%. The firm's revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 EPS. Sell-side analysts forecast that Duke Energy Corporation will post 6.72 EPS for the current year.

Duke Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Friday, August 14th will be paid a $1.085 dividend. This represents a $4.34 dividend on an annualized basis and a dividend yield of 3.5%. This is a boost from Duke Energy's previous quarterly dividend of $1.06. The ex-dividend date is Friday, August 14th. Duke Energy's dividend payout ratio is 65.17%.

Wall Street Analyst Weigh In

DUK has been the topic of a number of recent analyst reports. Barclays cut their price objective on Duke Energy from $140.00 to $132.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 5th. Weiss Ratings reiterated a "buy (b)" rating on shares of Duke Energy in a report on Friday, July 31st. Morgan Stanley set a $138.00 price target on shares of Duke Energy in a research report on Wednesday, July 22nd. KeyCorp upgraded shares of Duke Energy from a "sector weight" rating to an "overweight" rating and set a $139.00 price objective for the company in a research note on Thursday, July 23rd. Finally, Mizuho set a $136.00 price objective on shares of Duke Energy in a report on Wednesday, August 5th. Ten equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, Duke Energy presently has an average rating of "Moderate Buy" and a consensus price target of $138.25.

Duke Energy News Summary

Here are the key news stories impacting Duke Energy this week:

• Positive Sentiment: Duke executives are highlighting significant capital-spending upside from accelerating data-center demand. New generation and grid investments could expand Duke’s rate base and support long-term earnings growth. Utility Business Notes: Duke Executives Quantify Data Center Capex Upside
• Positive Sentiment: Duke’s South Carolina resource plan is designed to meet rising electricity demand from population growth, new employers and industrial investment while balancing reliability and customer costs. The plan could create future infrastructure and rate-base growth. Duke Energy's resource plan builds on work already underway
• Positive Sentiment: Duke is appealing a South Carolina decision that rejected a requested rate increase under a new regulatory program. A successful appeal could improve revenue recovery and earnings, although the outcome remains uncertain. Duke Energy appeals to SC Supreme Court
• Neutral Sentiment: North Carolina regulators may introduce special tariffs for data centers next year. Charging large users more could protect other customers and improve cost recovery, but higher power costs could slow data-center expansion or reduce demand growth. Data centers may face new tariffs next year
• Neutral Sentiment: Duke restored power to more than 340,000 customers after a rare derecho in Greater Cincinnati, with 85% of outages addressed within 48 hours. The response demonstrates operational execution, though severe-weather restoration can increase costs. Duke Energy thanks Greater Cincinnati customers
• Neutral Sentiment: Duke’s foundation is investing $175,000 in South Carolina downtown and community revitalization projects. The program supports local relations but is not financially material to the company. Duke Energy Foundation launches Main Street Revitalization grant program
• Negative Sentiment: More than 10,000 customers remained without power after severe thunderstorms in western North Carolina and the Upstate, following an earlier report of more than 12,000 outages. Extended disruptions may lead to restoration expenses and customer dissatisfaction. Duke Energy outage report
• Negative Sentiment: High electricity bills among Triangle-area residents are generating increased scrutiny. Affordability concerns could intensify political and regulatory opposition to future rate increases and limit Duke’s ability to pass through infrastructure costs. Why are Duke Energy bills so high for Triangle residents?

About Duke Energy

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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