Royal Bank of Canada Decreases Stock Position in Duke Energy Corporation $DUK

Key Points

• Royal Bank of Canada reduced its Duke Energy stake by 1.5% in the fourth quarter, selling 122,386 shares and leaving it with about 8.2 million shares valued at roughly $961.4 million.
• Two Duke Energy CEOs recently sold shares: Louis E. Renjel sold 3,500 shares and Harry K. Sideris sold 20,000 shares, trimming their ownership positions by 14.05% and 17.23%, respectively.
• Duke Energy reported solid quarterly results, with EPS of $1.93 beating estimates and revenue of $9.18 billion above forecasts; the company also paid a quarterly dividend of $1.065 per share, implying a 3.4% yield.

Royal Bank of Canada cut its holdings in Duke Energy Corporation (NYSE:DUK - Free Report) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,202,535 shares of the utilities provider's stock after selling 122,386 shares during the period. Royal Bank of Canada owned about 1.05% of Duke Energy worth $961,420,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Rothschild Wealth LLC boosted its position in shares of Duke Energy by 10.1% in the 4th quarter. Rothschild Wealth LLC now owns 2,653 shares of the utilities provider's stock worth $311,000 after buying an additional 244 shares in the last quarter. Rakuten Investment Management Inc. boosted its position in shares of Duke Energy by 532.0% in the 4th quarter. Rakuten Investment Management Inc. now owns 102,299 shares of the utilities provider's stock worth $12,022,000 after buying an additional 86,113 shares in the last quarter. L2 Asset Management LLC boosted its position in shares of Duke Energy by 6.7% in the 4th quarter. L2 Asset Management LLC now owns 4,146 shares of the utilities provider's stock worth $486,000 after buying an additional 262 shares in the last quarter. Bluedoor Private Wealth LLC purchased a new stake in shares of Duke Energy in the 4th quarter worth about $208,000. Finally, 71 West Capital Partners purchased a new position in Duke Energy in the 4th quarter valued at about $330,000. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Louis E. Renjel sold 3,500 shares of Duke Energy stock in a transaction on Monday, May 11th. The stock was sold at an average price of $125.15, for a total value of $438,025.00. Following the transaction, the chief executive officer owned 21,415 shares in the company, valued at approximately $2,680,087.25. This trade represents a 14.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Harry K. Sideris sold 20,000 shares of Duke Energy stock in a transaction on Friday, May 8th. The shares were sold at an average price of $124.37, for a total value of $2,487,400.00. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is currently owned by company insiders.

More Duke Energy News

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

• Positive Sentiment: Duke Energy continues to draw investor interest as a reliable income stock, with articles highlighting its century-long record of quarterly dividends and its appeal as a defensive, “safe-haven” utility in a lower-rate environment. Article Title
• Positive Sentiment: The Duke Energy Foundation announced additional America250 grants in Florida, reinforcing the company’s community profile and ESG/charitable reputation. Article Title
• Positive Sentiment: The Foundation also completed its broader America250 grantmaking program, which may modestly support Duke Energy’s public image across its service territory. Article Title
• Neutral Sentiment: Coverage of Duke’s resource planning and clean-energy strategy suggests ongoing debate over future generation mix and capital spending, but it does not appear to be a near-term catalyst on its own. Article Title
• Neutral Sentiment: Commentary about Duke’s rate case and gas-plant plans reflects the company’s ongoing regulatory process, which can affect returns over time but is not yet a confirmed earnings hit. Article Title
• Negative Sentiment: A report saying North Carolina’s consumer advocate believes Duke is overcharging customers adds regulatory and political risk, which can weigh on sentiment if it leads to tougher oversight or rate pressure. Article Title

Duke Energy Trading Up 0.5%

Shares of DUK stock opened at $125.92 on Wednesday. The firm has a market cap of $98.16 billion, a P/E ratio of 19.28 and a beta of 0.39. Duke Energy Corporation has a 1-year low of $113.66 and a 1-year high of $134.49. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.66 and a quick ratio of 0.44. The firm's 50-day simple moving average is $125.89 and its 200-day simple moving average is $124.06.

Duke Energy (NYSE:DUK - Get Free Report) last announced 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. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The company's revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.76 EPS. As a group, equities analysts forecast that Duke Energy Corporation will post 6.71 EPS for the current year.

Duke Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th were issued a dividend of $1.065 per share. This represents a $4.26 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, May 15th. Duke Energy's dividend payout ratio is presently 65.24%.

Analyst Upgrades and Downgrades

DUK has been the topic of a number of recent research reports. UBS Group reduced their target price on shares of Duke Energy from $137.00 to $135.00 in a report on Monday, May 11th. Weiss Ratings restated a "buy (b)" rating on shares of Duke Energy in a report on Monday, May 4th. BTIG Research restated a "buy" rating and issued a $139.00 target price on shares of Duke Energy in a report on Tuesday, June 2nd. Wall Street Zen upgraded shares of Duke Energy from a "sell" rating to a "hold" rating in a report on Saturday, March 28th. Finally, Jefferies Financial Group reduced their target price on shares of Duke Energy from $143.00 to $138.00 in a report on Monday, May 11th. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $138.93.

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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