Duke Energy Corporation $DUK Shares Sold by Studio Investment Management LLC

Studio Investment Management LLC cut its stake in Duke Energy Corporation (NYSE:DUK) by 25.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,345 shares of the utilities provider’s stock after selling 1,453 shares during the period. Studio Investment Management LLC’s holdings in Duke Energy were worth $513,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Duke Energy by 2.3% in the first quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider’s stock worth $9,094,327,000 after acquiring an additional 1,676,061 shares during the last quarter. GQG Partners LLC boosted its position in shares of 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 worth $1,250,133,000 after acquiring an additional 10,192,503 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Duke Energy by 4.9% in the first quarter. Royal Bank of Canada now owns 8,921,517 shares of the utilities provider’s stock worth $1,088,158,000 after acquiring an additional 418,014 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Duke Energy by 1.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,656,244 shares of the utilities provider’s stock valued at $1,055,087,000 after buying an additional 93,699 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Duke Energy by 1.9% during the first quarter. Northern Trust Corp now owns 8,153,615 shares of the utilities provider’s stock valued at $994,496,000 after buying an additional 152,542 shares in the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.

Duke Energy Trading Down 0.5%

DUK opened at $128.25 on Wednesday. The firm has a market capitalization of $99.73 billion, a P/E ratio of 20.85, a P/E/G ratio of 3.17 and a beta of 0.44. The firm’s 50 day moving average is $123.48 and its 200-day moving average is $120.23. Duke Energy Corporation has a 52-week low of $105.20 and a 52-week high of $129.51. 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) last posted its quarterly earnings data 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 firm had revenue of $7.51 billion for 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%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.18 EPS. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. Analysts expect that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 14th will be paid a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, November 14th. Duke Energy’s payout ratio is 69.27%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DUK. Barclays lifted their price target on shares of Duke Energy from $131.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Cowen began coverage on shares of Duke Energy in a research report on Wednesday, October 15th. They set a “buy” rating on the stock. The Goldman Sachs Group set a $132.00 price target on shares of Duke Energy in a research report on Tuesday, July 1st. Jefferies Financial Group lifted their price target on shares of Duke Energy from $134.00 to $138.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Finally, Morgan Stanley reduced their price target on shares of Duke Energy from $129.00 to $127.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 25th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $137.71.

Insiders Place Their Bets

In related news, SVP Bonnie B. Titone sold 2,000 shares of Duke Energy stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total value of $248,760.00. Following the completion of the sale, the senior vice president owned 19,608 shares in the company, valued at approximately $2,438,843.04. The trade was a 9.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of Duke Energy stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $124.26, for a total transaction of $832,542.00. Following the completion of the sale, 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 disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

About Duke Energy

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.