Tocqueville Asset Management L.P. Has $1.32 Million Stake in Duke Energy Corporation $DUK

Key Points

• Tocqueville Asset Management L.P. reduced its stake in Duke Energy by 93.3%, selling 150,221 shares during the 1st quarter and now owns only 10,807 shares valued at around $1.32 million.
• Duke Energy recently announced an increase in its quarterly dividend to $1.065 per share, up from $1.05, marking a dividend yield of 3.5%.
• The company's stock has seen a 1.6% decline in value, trading at approximately $122.26, while its PE ratio stands at 19.88.

Tocqueville Asset Management L.P. decreased its holdings in Duke Energy Corporation (NYSE:DUK - Free Report) by 93.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,807 shares of the utilities provider's stock after selling 150,221 shares during the quarter. Tocqueville Asset Management L.P.'s holdings in Duke Energy were worth $1,318,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. GQG Partners LLC increased its holdings 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 last quarter. Nuveen LLC bought a new position in Duke Energy in the 1st quarter worth approximately $702,351,000. Vanguard Group Inc. grew its holdings in Duke Energy by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider's stock worth $9,094,327,000 after buying an additional 1,676,061 shares in the last quarter. GAMMA Investing LLC grew its holdings in Duke Energy by 14,268.8% in the 1st quarter. GAMMA Investing LLC now owns 1,663,183 shares of the utilities provider's stock worth $202,858,000 after buying an additional 1,651,608 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in Duke Energy by 14.8% in the 4th quarter. Nuveen Asset Management LLC now owns 4,838,705 shares of the utilities provider's stock worth $521,322,000 after buying an additional 625,008 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company's stock.

Insiders Place Their Bets

In other news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the company's stock in a transaction on 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 directly owned 46,422 shares of the company's stock, valued at approximately $5,768,397.72. This represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Bonnie B. Titone sold 2,000 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $124.38, for a total transaction of $248,760.00. Following the completion of the transaction, the senior vice president directly owned 19,608 shares in the company, valued at $2,438,843.04. This trade 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 Stock Up 0.1%

Shares of DUK traded up $0.0740 during mid-day trading on Friday, reaching $124.2140. The company's stock had a trading volume of 1,469,342 shares, compared to its average volume of 3,576,205. The business has a fifty day moving average of $119.63 and a 200 day moving average of $118.27. The company has a market cap of $96.59 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 3.00 and a beta of 0.36. Duke Energy Corporation has a 1 year low of $105.20 and a 1 year high of $127.85. The company has a quick ratio of 0.42, a current ratio of 0.66 and a debt-to-equity ratio of 1.55.

Duke Energy (NYSE:DUK - Get Free Report) last released its earnings results on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.29 by ($0.04). The business had revenue of $7.51 billion during the quarter, compared to analysts' expectations of $7.07 billion. Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. Duke Energy's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.18 EPS. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. As a group, analysts forecast that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be paid a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. This is a boost from Duke Energy's previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, August 15th. Duke Energy's dividend payout ratio (DPR) is currently 69.27%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on DUK shares. The Goldman Sachs Group set a $132.00 price objective on Duke Energy in a report on Tuesday, July 1st. Barclays upped their target price on Duke Energy from $122.00 to $131.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Raymond James Financial started coverage on Duke Energy in a research report on Friday, June 13th. They issued a "market perform" rating for the company. Wells Fargo & Company upped their target price on Duke Energy from $127.00 to $138.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley cut their target price on Duke Energy from $125.00 to $124.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. Nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $130.07.

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.