Truist Financial Corp Has $85.80 Million Holdings in Duke Energy Corporation $DUK

Key Points

• Truist Financial Corp reduced its stake in Duke Energy, holding 727,119 shares valued at approximately $85.8 million, after selling 14,442 shares in Q2.
• Duke Energy's recent earnings report showed a miss on EPS estimates, with $1.25 reported versus an expected $1.29, despite a year-over-year revenue increase of 4.7% to $7.51 billion.
• The company recently increased its quarterly dividend to $1.065 per share, representing an annual yield of 3.5%, up from the previous $1.05 dividend.

Truist Financial Corp cut its holdings in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 727,119 shares of the utilities provider's stock after selling 14,442 shares during the quarter. Truist Financial Corp owned about 0.09% of Duke Energy worth $85,800,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DUK. GQG Partners LLC lifted its holdings in shares of Duke Energy by 17,880.0% during the first quarter. GQG Partners LLC now owns 10,249,508 shares of the utilities provider's stock worth $1,250,133,000 after buying an additional 10,192,503 shares during the last quarter. Nuveen LLC acquired a new position in shares of Duke Energy during the first quarter worth approximately $702,351,000. Raymond James Financial Inc. lifted its holdings in shares of Duke Energy by 88.1% during the first quarter. Raymond James Financial Inc. now owns 4,861,309 shares of the utilities provider's stock worth $592,934,000 after buying an additional 2,276,948 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Duke Energy by 2.3% during the first 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 during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of Duke Energy by 359.1% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,132,613 shares of the utilities provider's stock worth $138,145,000 after buying an additional 885,900 shares during the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Stock Performance

Shares of NYSE:DUK opened at $122.42 on Thursday. The business's fifty day moving average price is $122.47 and its two-hundred day moving average price is $119.59. Duke Energy Corporation has a fifty-two week low of $105.20 and a fifty-two week high of $127.85. The stock has a market capitalization of $95.19 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 2.99 and a beta of 0.44. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.66 and a quick ratio of 0.42.

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

Duke Energy Increases Dividend

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

Wall Street Analysts Forecast Growth

DUK has been the topic of a number of research reports. Jefferies Financial Group cut Duke Energy from a "buy" rating to a "hold" rating and lowered their price objective for the company from $141.00 to $134.00 in a research report on Friday, September 26th. Raymond James Financial initiated coverage on Duke Energy in a research report on Friday, June 13th. They set a "market perform" rating on the stock. Barclays boosted their price objective on Duke Energy from $122.00 to $131.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. UBS Group restated a "neutral" rating and set a $127.00 price objective (up from $124.00) on shares of Duke Energy in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. boosted their price objective on Duke Energy from $127.00 to $131.00 and gave the company a "neutral" rating in a research report on Thursday, August 21st. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Duke Energy currently has an average rating of "Moderate Buy" and an average price target of $131.50.

Insider Buying and Selling at Duke Energy

In other news, SVP Bonnie B. Titone sold 2,000 shares of the 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 sale, the senior vice president owned 19,608 shares in the company, valued at approximately $2,438,843.04. This represents a 9.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $124.26, for a total value of $832,542.00. Following the sale, the executive vice president owned 46,422 shares in the company, valued at $5,768,397.72. The trade was a 12.61% decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Duke Energy 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.

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