Prosperity Consulting Group LLC Cuts Stake in Duke Energy Corporation $DUK

Prosperity Consulting Group LLC lessened its stake in shares of Duke Energy Corporation (NYSE:DUK) by 46.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,985 shares of the utilities provider’s stock after selling 7,012 shares during the period. Prosperity Consulting Group LLC’s holdings in Duke Energy were worth $1,046,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Duke Energy by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider’s stock valued at $9,172,709,000 after acquiring an additional 1,957,592 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Duke Energy by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 19,292,633 shares of the utilities provider’s stock worth $2,266,675,000 after acquiring an additional 230,375 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Duke Energy by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,931,127 shares of the utilities provider’s stock worth $1,046,818,000 after purchasing an additional 58,375 shares in the last quarter. Franklin Resources Inc. raised its stake in Duke Energy by 13.1% in the 4th quarter. Franklin Resources Inc. now owns 8,236,893 shares of the utilities provider’s stock valued at $965,446,000 after purchasing an additional 954,907 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Duke Energy by 0.4% in the 3rd quarter. Northern Trust Corp now owns 7,758,700 shares of the utilities provider’s stock valued at $960,139,000 after purchasing an additional 31,703 shares in the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on DUK. BTIG Research reaffirmed a “buy” rating and set a $139.00 target price on shares of Duke Energy in a research note on Tuesday, June 2nd. Mizuho decreased their price target on shares of Duke Energy from $139.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, June 18th. Jefferies Financial Group lowered their price target on shares of Duke Energy from $143.00 to $138.00 in a research report on Monday, May 11th. BMO Capital Markets dropped their price objective on shares of Duke Energy from $139.00 to $138.00 in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Duke Energy from $136.00 to $141.00 and gave the company a “neutral” rating in a report on Thursday. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Duke Energy presently has an average rating of “Moderate Buy” and an average price target of $138.73.

Duke Energy Stock Down 0.9%

Shares of NYSE:DUK opened at $125.04 on Friday. Duke Energy Corporation has a 52-week low of $113.89 and a 52-week high of $134.49. The stock has a market cap of $97.48 billion, a P/E ratio of 19.15, a PEG ratio of 2.78 and a beta of 0.38. The business has a fifty day moving average of $124.89 and a two-hundred day moving average of $125.42. The company has a quick ratio of 0.44, a current ratio of 0.66 and a debt-to-equity ratio of 1.45.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.87 by $0.06. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the firm earned $1.76 EPS. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, research analysts expect that Duke Energy Corporation will post 6.72 earnings per share for the current year.

Duke Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th will be issued a $1.085 dividend. This represents a $4.34 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, August 14th. This is a positive change from Duke Energy’s previous quarterly dividend of $1.06. Duke Energy’s dividend payout ratio (DPR) is presently 65.24%.

Insider Activity at Duke Energy

In related news, CEO Harry K. Sideris sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $124.37, for a total value of $2,487,400.00. Following the transaction, the chief executive officer directly owned 96,102 shares in the company, valued at approximately $11,952,205.74. This represents a 17.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Louis E. Renjel sold 3,500 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $125.15, for a total value of $438,025.00. Following the completion of the transaction, the chief executive officer owned 21,415 shares of the company’s stock, valued at $2,680,087.25. The trade was a 14.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.12% of the company’s stock.

Key Duke Energy News

Here are the key news stories impacting Duke Energy this week:

• Positive Sentiment: Truist raised its price target on Duke Energy to $138 and reiterated a Buy rating, signaling confidence in the utility’s earnings outlook and suggesting meaningful upside from current levels. Benzinga report on Truist rating update
• Positive Sentiment: JPMorgan also lifted its price target to $141, even while keeping a Neutral rating, which still reflects expectations for solid longer-term value creation. Benzinga report on JPMorgan target increase
• Positive Sentiment: Recent commentary highlighted Duke Energy as one of the utilities best positioned for long-term growth thanks to its strong customer base and large capital expenditure program, with analysts pointing to contracted load and new demand from data centers as supportive of future earnings. Seeking Alpha article
• Neutral Sentiment: Duke Energy is expected to report second-quarter results next month, and analysts are looking for a modest earnings increase, keeping attention on whether the company can deliver on its growth plans. Barchart article
• Neutral Sentiment: Local coverage suggests Clearwater may renew its long-term electricity contract with Duke Energy, which would help preserve customer relationships and support revenue stability. Yahoo Finance article
• Negative Sentiment: North Carolina’s attorney general is challenging proposed Duke Energy Progress rate increases, adding another regulatory hurdle that could limit future pricing power and earnings growth. MSN article
• Negative Sentiment: Additional reports say AG Jeff Jackson is seeking to block nearly $1 billion in Duke Energy rate hikes over the next two years, reinforcing investor concerns about regulatory pushback on returns. Yahoo News article

Duke Energy Profile

Duke Energy Corporation is a U.S.-based electric power holding company headquartered in Charlotte, North Carolina. The company’s core business is the generation, transmission and distribution of electricity to residential, commercial and industrial customers. Duke Energy operates a mix of regulated electric utilities and non-regulated energy businesses, providing essential energy infrastructure and services across multiple states.

Its operating activities include owning and operating generation assets across a portfolio that encompasses nuclear, natural gas, coal, hydroelectric and an expanding array of renewable resources, as well as battery storage and grid modernization projects.