Oppenheimer Asset Management Inc. Trims Stake in Duke Energy Corporation $DUK

Oppenheimer Asset Management Inc. cut its holdings in Duke Energy Corporation (NYSE:DUK) by 0.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 182,539 shares of the utilities provider’s stock after selling 1,642 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Duke Energy were worth $21,540,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Duke Energy during the second quarter worth approximately $448,000. Whipplewood Advisors LLC increased its position in shares of Duke Energy by 8.1% during the second quarter. Whipplewood Advisors LLC now owns 1,659 shares of the utilities provider’s stock worth $196,000 after purchasing an additional 124 shares in the last quarter. Interchange Capital Partners LLC increased its position in shares of Duke Energy by 5.7% during the second quarter. Interchange Capital Partners LLC now owns 2,929 shares of the utilities provider’s stock worth $346,000 after purchasing an additional 158 shares in the last quarter. Brighton Jones LLC increased its position in shares of Duke Energy by 2.7% during the second quarter. Brighton Jones LLC now owns 6,039 shares of the utilities provider’s stock worth $713,000 after purchasing an additional 161 shares in the last quarter. Finally, MQS Management LLC purchased a new stake in shares of Duke Energy during the second quarter worth approximately $482,000. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Stock Performance

Shares of Duke Energy stock opened at $127.41 on Friday. Duke Energy Corporation has a 52 week low of $105.20 and a 52 week high of $130.03. The business’s fifty day simple moving average is $123.71 and its 200-day simple moving average is $120.47. The firm has a market cap of $99.07 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 3.13 and a beta of 0.44. 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 announced its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $1.25 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.04). Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. The business had revenue of $7.51 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same period last year, the company earned $1.18 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. Equities analysts forecast that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. TD Cowen assumed coverage on Duke Energy in a research report on Thursday, October 16th. They set a “buy” rating and a $143.00 price target for the company. Scotiabank set a $137.00 price target on Duke Energy and gave the stock a “sector outperform” rating in a research report on Friday, October 3rd. Cowen assumed coverage on Duke Energy in a research report on Wednesday, October 15th. They set a “buy” rating for the company. Morgan Stanley boosted their price target on Duke Energy from $127.00 to $136.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Evercore ISI initiated coverage on Duke Energy in a research note on Monday, October 6th. They set an “outperform” rating and a $143.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $138.36.

Insider Transactions at Duke Energy

In other Duke Energy news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the stock in a transaction dated 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 of the company’s stock, valued at $5,768,397.72. This trade represents a 12.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Bonnie B. Titone sold 2,000 shares of the stock in a transaction dated 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 directly owned 19,608 shares in the company, valued at $2,438,843.04. This represents a 9.26% decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by company 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.