Cresset Asset Management LLC Sells 195 Shares of Duke Energy Corporation $DUK

Cresset Asset Management LLC lessened its position in shares of Duke Energy Corporation (NYSE:DUK) by 1.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 14,080 shares of the utilities provider’s stock after selling 195 shares during the period. Cresset Asset Management LLC’s holdings in Duke Energy were worth $1,717,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of DUK. Vermillion Wealth Management Inc. bought a new position in Duke Energy during the fourth quarter worth $27,000. Wayfinding Financial LLC bought a new position in Duke Energy during the first quarter worth $27,000. N.E.W. Advisory Services LLC bought a new position in Duke Energy during the first quarter worth $27,000. Mattson Financial Services LLC bought a new position in Duke Energy during the fourth quarter worth $28,000. Finally, Financial Network Wealth Advisors LLC raised its stake in Duke Energy by 360.0% during the first quarter. Financial Network Wealth Advisors LLC now owns 253 shares of the utilities provider’s stock worth $31,000 after buying an additional 198 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Up 0.5%

Shares of NYSE DUK opened at $124.3720 on Thursday. The stock has a market capitalization of $96.71 billion, a P/E ratio of 20.22, a P/E/G ratio of 2.99 and a beta of 0.36. The company has a 50-day moving average price of $119.50 and a 200-day moving average price of $118.20. Duke Energy Corporation has a 1 year low of $105.20 and a 1 year high of $127.85. 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) last issued 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 business had revenue of $7.51 billion for the quarter, compared to analyst estimates of $7.07 billion. Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.18 earnings per share. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. On average, equities research analysts forecast that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be issued a dividend of $1.065 per share. This represents a $4.26 annualized dividend and a yield of 3.4%. This is a boost from Duke Energy’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, August 15th. Duke Energy’s dividend payout ratio is presently 69.27%.

Wall Street Analyst Weigh In

DUK has been the subject of a number of analyst reports. Scotiabank lifted their target price on shares of Duke Energy from $120.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 6th. Morgan Stanley decreased their price target on shares of Duke Energy from $125.00 to $124.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 18th. UBS Group reaffirmed a “neutral” rating and issued a $127.00 price target (up from $124.00) on shares of Duke Energy in a research note on Friday, July 11th. Barclays lifted their price target on shares of Duke Energy from $122.00 to $131.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Finally, Citigroup lifted their price target on shares of Duke Energy from $130.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.80.

Insiders Place Their Bets

In related news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $124.26, for a total transaction of $832,542.00. Following the transaction, the executive vice president directly owned 46,422 shares in the company, valued at approximately $5,768,397.72. The trade was a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Duke Energy Company 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.