State of Alaska Department of Revenue Sells 3,715 Shares of Duke Energy Corporation $DUK

Key Points

• The State of Alaska Department of Revenue sold 3,715 shares of Duke Energy Corporation, reducing its holdings by 4.1%, leaving 87,200 shares valued at approximately $10.29 million.
• Analysts' ratings on Duke Energy have fluctuated, with Jefferies Financial Group downgrading the stock to a "hold" and setting a target price of $134.00, while other firms maintained or increased their price targets.
• Duke Energy declared a quarterly dividend of $1.065 per share, representing an increase from the previous $1.05, which results in an annualized yield of 3.5% as of August 15th.

State of Alaska Department of Revenue lowered its position in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 4.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 87,200 shares of the utilities provider's stock after selling 3,715 shares during the period. State of Alaska Department of Revenue's holdings in Duke Energy were worth $10,289,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Old Port Advisors increased its stake in shares of Duke Energy by 7.0% in the second quarter. Old Port Advisors now owns 18,944 shares of the utilities provider's stock valued at $2,235,000 after buying an additional 1,244 shares during the period. Patton Fund Management Inc. acquired a new position in Duke Energy in the 2nd quarter valued at approximately $217,000. Kathmere Capital Management LLC raised its stake in shares of Duke Energy by 13.0% during the second quarter. Kathmere Capital Management LLC now owns 2,724 shares of the utilities provider's stock valued at $321,000 after acquiring an additional 314 shares during the last quarter. ST Germain D J Co. Inc. lifted its holdings in shares of Duke Energy by 34.3% during the second quarter. ST Germain D J Co. Inc. now owns 4,271 shares of the utilities provider's stock worth $504,000 after purchasing an additional 1,091 shares during the period. Finally, LS Investment Advisors LLC increased its holdings in Duke Energy by 11.2% in the second quarter. LS Investment Advisors LLC now owns 11,360 shares of the utilities provider's stock valued at $1,340,000 after purchasing an additional 1,141 shares during the period. 65.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DUK has been the topic of several recent research reports. Jefferies Financial Group downgraded Duke Energy from a "buy" rating to a "hold" rating and cut their target price for the stock from $141.00 to $134.00 in a report on Friday. UBS Group reiterated a "neutral" rating and issued a $127.00 target price (up from $124.00) on shares of Duke Energy in a report on Friday, July 11th. The Goldman Sachs Group set a $132.00 price target on shares of Duke Energy in a report on Tuesday, July 1st. Morgan Stanley reduced their price objective on shares of Duke Energy from $129.00 to $127.00 and set an "equal weight" rating on the stock in a research note on Thursday. Finally, Scotiabank lifted their target price on shares of Duke Energy from $120.00 to $128.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $131.00.

Insider Buying and Selling at Duke Energy

In related news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were 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 trade represents a 12.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bonnie B. Titone sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $124.38, for a total value of $248,760.00. Following the sale, the senior vice president directly owned 19,608 shares of the company's stock, valued at $2,438,843.04. This represents a 9.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company's stock.

Duke Energy Price Performance

Shares of NYSE DUK opened at $122.99 on Friday. The firm has a market capitalization of $95.64 billion, a P/E ratio of 20.00, a P/E/G ratio of 2.97 and a beta of 0.39. The firm's 50-day moving average price is $122.29 and its 200-day moving average price is $119.52. The company has a current ratio of 0.66, a quick ratio of 0.42 and a debt-to-equity ratio of 1.55. Duke Energy Corporation has a 1-year low of $105.20 and a 1-year high of $127.85.

Duke Energy (NYSE:DUK - Get Free Report) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $1.25 EPS for the quarter, missing analysts' consensus estimates of $1.29 by ($0.04). The firm had revenue of $7.51 billion during the quarter, compared to the consensus estimate of $7.07 billion. Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. The business's quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.18 earnings per share. 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 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th were paid a dividend of $1.065 per share. This is a boost from Duke Energy's previous quarterly dividend of $1.05. The ex-dividend date was Friday, August 15th. This represents a $4.26 dividend on an annualized basis and a yield of 3.5%. Duke Energy's dividend payout ratio (DPR) is presently 69.27%.

Duke Energy Company 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.

Want to see what other hedge funds are holding DUK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Duke Energy Corporation (NYSE:DUK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.