CPC Advisors LLC Sells 51,667 Shares of Duke Energy Corporation $DUK

CPC Advisors LLC trimmed its holdings in Duke Energy Corporation (NYSE:DUK) by 96.2% during the 1st quarter, Holdings Channel.com reports. The fund owned 2,043 shares of the utilities provider’s stock after selling 51,667 shares during the period. CPC Advisors LLC’s holdings in Duke Energy were worth $268,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. World Investment Advisors increased its holdings in Duke Energy by 62.7% in the 4th quarter. World Investment Advisors now owns 42,680 shares of the utilities provider’s stock valued at $5,003,000 after acquiring an additional 16,450 shares during the last quarter. Aptus Capital Advisors LLC boosted its holdings in shares of Duke Energy by 7.2% during the 3rd quarter. Aptus Capital Advisors LLC now owns 206,891 shares of the utilities provider’s stock valued at $25,603,000 after purchasing an additional 13,882 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Duke Energy by 22.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 132,530 shares of the utilities provider’s stock valued at $15,534,000 after purchasing an additional 24,497 shares in the last quarter. Moseley Investment Management Inc. grew its position in shares of Duke Energy by 423.6% during the fourth quarter. Moseley Investment Management Inc. now owns 9,749 shares of the utilities provider’s stock valued at $1,143,000 after purchasing an additional 7,887 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Duke Energy by 4.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 359,829 shares of the utilities provider’s stock worth $42,176,000 after purchasing an additional 14,137 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.

Insider Activity at Duke Energy

In related news, CEO Harry K. Sideris sold 20,000 shares of the firm’s 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 sale, the chief executive officer directly owned 96,102 shares in the company, valued at $11,952,205.74. This trade represents a 17.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Louis E. Renjel sold 3,500 shares of Duke Energy stock in a transaction on Monday, May 11th. The stock was sold at an average price of $125.15, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.12% of the company’s stock.

Duke Energy Stock Down 0.0%

Shares of NYSE DUK opened at $123.84 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. Duke Energy Corporation has a 12-month low of $113.89 and a 12-month high of $134.49. The firm’s 50-day moving average price is $125.43 and its 200-day moving average price is $124.08. The stock has a market capitalization of $96.55 billion, a price-to-earnings ratio of 18.97 and a beta of 0.39.

Duke Energy (NYSE:DUK) last released 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 company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the business posted $1.76 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. On average, 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 announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th were issued a $1.065 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. Duke Energy’s payout ratio is 65.24%.

More Duke Energy News

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Capitol Sec Mgt downgraded Duke Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. BMO Capital Markets cut their price target on Duke Energy from $139.00 to $138.00 in a report on Wednesday, May 6th. Jefferies Financial Group reduced their price objective on Duke Energy from $143.00 to $138.00 in a research note on Monday, May 11th. Truist Financial decreased their price objective on Duke Energy from $142.00 to $137.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Finally, Wall Street Zen upgraded Duke Energy from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Nine research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $138.07.

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.