SG Americas Securities LLC Trims Stock Holdings in Duke Energy Corporation $DUK

Key Points

• SG Americas Securities LLC cut its Duke Energy stake by 38% in the first quarter, selling 304,272 shares and ending with 495,934 shares valued at about $64.9 million.
• Duke Energy reported better-than-expected Q1 earnings, posting $1.93 EPS on $9.18 billion in revenue, both above analyst forecasts, while revenue rose 11.3% from a year earlier.
• The company maintained a quarterly dividend of $1.065 per share, equal to an annualized yield of 3.4%, even as several analysts trimmed price targets slightly but kept an overall Moderate Buy view.

SG Americas Securities LLC reduced its holdings in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 38.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 495,934 shares of the utilities provider's stock after selling 304,272 shares during the period. SG Americas Securities LLC owned about 0.06% of Duke Energy worth $64,938,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of DUK. Basso Capital Management L.P. bought a new stake in shares of Duke Energy during the fourth quarter worth $25,000. Dorato Capital Management bought a new position in shares of Duke Energy in the fourth quarter worth about $26,000. Evolution Wealth Management Inc. increased its stake in Duke Energy by 1,111.1% in the 4th quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider's stock worth $26,000 after buying an additional 200 shares during the period. KERR FINANCIAL PLANNING Corp purchased a new position in Duke Energy in the 3rd quarter worth about $27,000. Finally, Triumph Capital Management lifted its holdings in Duke Energy by 68.6% during the 4th 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. Hedge funds and other institutional investors own 65.31% of the company's stock.

Duke Energy Stock Down 0.2%

Shares of NYSE DUK opened at $123.57 on Tuesday. Duke Energy Corporation has a 12-month low of $113.89 and a 12-month high of $134.49. The stock's fifty day simple moving average is $125.24 and its two-hundred day simple moving average is $124.11. The stock has a market capitalization of $96.33 billion, a PE ratio of 18.92 and a beta of 0.39. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45.

Duke Energy (NYSE:DUK - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 EPS 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 firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period in the previous year, the company posted $1.76 EPS. The business's revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, analysts expect that Duke Energy Corporation will post 6.71 EPS for the current fiscal year.

Duke Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th were given 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 of this dividend was Friday, May 15th. Duke Energy's dividend payout ratio is presently 65.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DUK. Morgan Stanley dropped their target price on shares of Duke Energy from $141.00 to $132.00 in a research note on Thursday, May 21st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Duke Energy in a research note on Monday, May 4th. Mizuho lowered their price target on Duke Energy from $139.00 to $135.00 and set an "outperform" rating for the company in a report on Thursday, June 18th. JPMorgan Chase & Co. reduced their price objective on Duke Energy from $139.00 to $136.00 and set a "neutral" rating on the stock in a report on Wednesday, May 13th. Finally, Capitol Sec Mgt lowered Duke Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 10th. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $138.07.

Insider Transactions at Duke Energy

In related news, CEO Louis E. Renjel sold 3,500 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 21,415 shares in the company, valued at $2,680,087.25. The trade was a 14.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Harry K. Sideris sold 20,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 96,102 shares of the company's stock, 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.

Duke Energy Company 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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