Duke Energy Corporation $DUK Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC trimmed its holdings in Duke Energy Corporation (NYSE:DUK) by 39.4% in the 4th quarter, HoldingsChannel reports. The fund owned 32,357 shares of the utilities provider’s stock after selling 21,056 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Duke Energy were worth $3,793,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Duke Energy by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider’s stock valued at $9,172,709,000 after purchasing an additional 1,957,592 shares during the last quarter. Amundi increased its position in shares of Duke Energy by 56.9% during the 4th quarter. Amundi now owns 2,662,460 shares of the utilities provider’s stock worth $312,067,000 after purchasing an additional 965,808 shares during the last quarter. Franklin Resources Inc. raised its holdings 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 buying an additional 954,907 shares during the period. Milford Funds Ltd. purchased a new stake in Duke Energy in the 4th quarter valued at about $97,905,000. Finally, Cohen & Steers Inc. lifted its position in Duke Energy by 83.3% in the fourth quarter. Cohen & Steers Inc. now owns 1,711,445 shares of the utilities provider’s stock valued at $200,598,000 after buying an additional 777,878 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Duke Energy in a research report on Monday, May 4th. Barclays decreased their price objective on shares of Duke Energy from $143.00 to $134.00 and set an “overweight” rating on the stock in a report on Thursday. Wells Fargo & Company increased their price objective on shares of Duke Energy from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Monday, April 20th. Morgan Stanley dropped their target price on shares of Duke Energy from $141.00 to $132.00 in a report on Thursday, May 21st. Finally, BTIG Research reissued a “buy” rating and issued a $139.00 target price on shares of Duke Energy in a research report on Tuesday, June 2nd. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.07.

Key Headlines Impacting Duke Energy

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

• Positive Sentiment: Duke Energy is being highlighted as one of the large-cap dividend stocks that retirees are quietly buying, reinforcing its appeal as a steady income name for investors looking for yield and defensive cash flow. 3 Stocks Retirees Are Quietly Loading Up on in June
• Positive Sentiment: Another article also grouped Duke Energy with other utility stocks viewed as sources of passive income, which may support investor interest in the stock’s defensive dividend profile. 3 Utility Stocks For Years of Passive Income
• Positive Sentiment: Mizuho lowered its price target on Duke Energy only modestly to $135 from $139 while keeping an outperform rating, suggesting analysts still see upside from current levels. Mizuho PT Lowered to $135 at Mizuho
• Neutral Sentiment: Duke Energy Florida issued a customer energy-use reminder ahead of summer, which is routine utility communications and not likely to materially move the stock. Summer starts June 21: Duke Energy Florida highlights five key appliances to help customers manage energy use
• Neutral Sentiment: Several local outage reports and safety demonstrations are operational headlines that reflect day-to-day utility issues rather than a major change in Duke Energy’s earnings outlook. Duke Energy: Hundreds of customers without power in Greenville County
• Negative Sentiment: Coverage about a regulator sitting out Duke Energy carbon plan decisions and a separate story about a city examining whether to leave the utility add a bit of regulatory and political uncertainty. Pro-coal state regulator won’t participate in Duke Energy Carbon Plan decisions
• Negative Sentiment: Recent trading commentary noted that Duke Energy has been declining more than the broader market, indicating some near-term pressure on shares. Duke Energy (DUK) Declines More Than Market: Some Information for Investors

Insider Buying and Selling at Duke Energy

In related news, CEO Harry K. Sideris sold 20,000 shares of Duke Energy stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 96,102 shares in the company, valued at approximately $11,952,205.74. This trade represents a 17.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Louis E. Renjel sold 3,500 shares of the business’s stock in a transaction 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 transaction, the chief executive officer directly 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 SEC filing for this sale provides additional information. 0.12% of the stock is currently owned by company insiders.

Duke Energy Trading Down 0.0%

NYSE DUK opened at $123.84 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.44 and a current ratio of 0.66. The firm has a market cap of $96.55 billion, a price-to-earnings ratio of 18.97 and a beta of 0.39. The firm has a 50 day simple moving average of $125.43 and a 200-day simple moving average of $124.06. Duke Energy Corporation has a one year low of $113.89 and a one year high of $134.49.

Duke Energy (NYSE:DUK) last announced its earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.06. The firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.76 EPS. Equities research analysts anticipate that Duke Energy Corporation will post 6.71 EPS for the current fiscal year.

Duke Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th were paid a $1.065 dividend. This represents a $4.26 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, May 15th. Duke Energy’s dividend payout ratio (DPR) is presently 65.24%.

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.