iA Global Asset Management Inc. Decreases Stock Holdings in Duke Energy Corporation $DUK

iA Global Asset Management Inc. trimmed its stake in shares of Duke Energy Corporation (NYSE:DUK) by 41.0% in the 4th quarter, Holdings Channel reports. The firm owned 101,918 shares of the utilities provider’s stock after selling 70,772 shares during the period. iA Global Asset Management Inc.’s holdings in Duke Energy were worth $11,946,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in DUK. EWA LLC increased its holdings in Duke Energy by 3.9% during the third quarter. EWA LLC now owns 2,203 shares of the utilities provider’s stock valued at $273,000 after buying an additional 82 shares during the last quarter. Mill Creek Capital Advisors LLC increased its holdings in Duke Energy by 4.6% during the third quarter. Mill Creek Capital Advisors LLC now owns 1,854 shares of the utilities provider’s stock valued at $229,000 after buying an additional 82 shares during the last quarter. CYBER HORNET ETFs LLC increased its holdings in Duke Energy by 4.1% during the third quarter. CYBER HORNET ETFs LLC now owns 2,113 shares of the utilities provider’s stock valued at $261,000 after buying an additional 83 shares during the last quarter. Legacy Wealth Managment LLC ID increased its holdings in Duke Energy by 35.0% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 324 shares of the utilities provider’s stock valued at $38,000 after buying an additional 84 shares during the last quarter. Finally, MidWestOne Financial Group Inc. increased its holdings in Duke Energy by 1.1% during the third quarter. MidWestOne Financial Group Inc. now owns 7,858 shares of the utilities provider’s stock valued at $972,000 after buying an additional 87 shares during the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Stock Performance

DUK opened at $120.98 on Monday. The firm has a market cap of $94.31 billion, a P/E ratio of 18.53 and a beta of 0.41. Duke Energy Corporation has a 1-year low of $113.39 and a 1-year high of $134.49. The company has a 50 day simple moving average of $128.90 and a two-hundred day simple moving average of $124.03. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.66 and a quick ratio of 0.44.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.06. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The company’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.76 earnings per share. Equities analysts forecast that Duke Energy Corporation will post 6.7 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th will be given a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, May 15th. Duke Energy’s dividend payout ratio is presently 65.24%.

Trending Headlines about Duke Energy

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

• Positive Sentiment: Duke Energy held a groundbreaking ceremony for its Cayuga Energy Complex, signaling continued investment in its generation and infrastructure buildout, which can support future regulated-rate growth. Duke Energy holds a groundbreaking ceremony for their Cayuga Energy Complex
• Positive Sentiment: The company reported that no toxic algae was found at the Lake Norman site after an earlier state finding, which may reduce environmental and reputational concerns. Duke Energy: No toxic algae found at Lake Norman site where state said it was
• Neutral Sentiment: DUK remains a heavily watched stock, with investor attention likely reflecting interest in its defensive utility profile and upcoming rate/regulatory developments. Duke Energy Corporation (DUK) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Reports that Duke Energy’s North Carolina rate-increase hearing was postponed could delay a key catalyst for earnings and cash-flow improvement, but the impact is still uncertain. Duke Energy rate-increase hearing postponed over missed scheduling deadline
• Neutral Sentiment: The company’s claims that a merger will save customers $2.3 billion and news about combining its two North Carolina utilities may help long-term efficiency, but investors are likely waiting to see regulatory details. Duke Energy claims merger to save customers $2.3 billion, double initial estimate
• Negative Sentiment: Questions around North Carolina policy and legal issues tied to Duke Energy’s solar plans could add uncertainty to future capital spending and regulatory approval. Shunning the sunshine? NC order for Duke Energy to hit brakes on solar raises policy, legal questions

Insiders Place Their Bets

In related news, SVP Regis T. Repko sold 962 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $127.86, for a total transaction of $123,001.32. Following the completion of the transaction, the senior vice president owned 3,896 shares in the company, valued at approximately $498,142.56. This represents a 19.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Harry K. Sideris sold 20,000 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the transaction, the chief executive officer owned 96,102 shares of the company’s stock, valued at approximately $11,952,205.74. This represents a 17.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 24,462 shares of company stock worth $3,048,426 over the last three months. 0.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on DUK shares. Mizuho upped their target price on shares of Duke Energy from $130.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Duke Energy from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. JPMorgan Chase & Co. reduced their target price on shares of Duke Energy from $139.00 to $136.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Morgan Stanley reduced their target price on shares of Duke Energy from $142.00 to $141.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. Finally, Jefferies Financial Group reduced their target price on shares of Duke Energy from $143.00 to $138.00 in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Duke Energy presently has an average rating of “Moderate Buy” and an average price target of $140.00.

About Duke Energy

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.