Sumitomo Mitsui Trust Group Inc. Sells 117,497 Shares of Duke Energy Corporation $DUK

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Duke Energy Corporation (NYSE:DUK) by 6.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,758,086 shares of the utilities provider’s stock after selling 117,497 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Duke Energy worth $230,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of DUK. Vanguard Group Inc. increased its holdings in 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 acquiring an additional 1,957,592 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Duke Energy by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 19,292,633 shares of the utilities provider’s stock valued at $2,266,675,000 after purchasing an additional 230,375 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Duke Energy by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,931,127 shares of the utilities provider’s stock valued at $1,046,818,000 after purchasing an additional 58,375 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Duke Energy by 13.1% during the fourth 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 in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Duke Energy by 0.4% in the third quarter. Northern Trust Corp now owns 7,758,700 shares of the utilities provider’s stock worth $960,139,000 after purchasing an additional 31,703 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Down 1.2%

Shares of NYSE:DUK opened at $125.27 on Friday. 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 company has a 50-day moving average price of $124.97 and a 200 day moving average price of $125.12. The company has a market cap of $97.66 billion, a price-to-earnings ratio of 19.18 and a beta of 0.38.

Duke Energy (NYSE:DUK) last issued its quarterly earnings data 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 company had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.44 billion. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.76 earnings per share. As a group, equities research analysts predict that Duke Energy Corporation will post 6.71 earnings per share for the current year.

Duke Energy Dividend Announcement

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

Insider Buying and Selling at Duke Energy

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on DUK. Morgan Stanley boosted their target price on Duke Energy from $132.00 to $136.00 in a research report on Wednesday, June 24th. Jefferies Financial Group reduced their price objective on Duke Energy from $143.00 to $138.00 in a research note on Monday, May 11th. Barclays decreased their price objective on Duke Energy from $143.00 to $134.00 and set an “overweight” rating on the stock in a report on Thursday, June 18th. JPMorgan Chase & Co. lowered their target price on Duke Energy from $139.00 to $136.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Finally, UBS Group cut their target price on shares of Duke Energy from $137.00 to $135.00 in a report on Monday, May 11th. 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.33.

Key Duke Energy News

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

• Positive Sentiment: Duke Energy is still being highlighted as a defensive stock pick as investors rotate away from tech and into safer sectors, which can support demand for the shares. 4 Defensive Stocks to Take Refuge in as Tech Sell-off Continues
• Positive Sentiment: The company is offering bill assistance and free home inspections for customers, which may help strengthen goodwill with regulators and communities. Indiana customers to receive $350,000 in bill assistance from Duke Energy this summer
• Positive Sentiment: AI-driven data center demand is boosting long-term electricity demand for utilities, which could benefit Duke Energy if it can supply that growth and secure needed equipment. US power companies scramble to secure equipment as surging data center demand strains supplies
• Neutral Sentiment: Investor attention on Duke Energy has increased, but the coverage mostly reflects market interest rather than a clear new catalyst. Investors Heavily Search Duke Energy Corporation (DUK): Here is What You Need to Know
• Neutral Sentiment: Duke Energy is facing scrutiny over its Florida data-center plan, adding uncertainty around how quickly it can capitalize on AI-related growth. Duke Energy faces first major test of Florida’s new AI data center law
• Negative Sentiment: Regulators in North Carolina and Florida are pushing back on Duke Energy’s rate and data-center plans, raising the risk of slower approvals or less favorable economics. Duke reduces rate hike request, still faces regulator pushback
• Negative Sentiment: Goldman Sachs removed Duke Energy from its U.S. Conviction List, which may weigh on near-term sentiment. Goldman Sachs Removes Duke Energy (DUK) from its US Conviction List

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.