Lazard Asset Management LLC Sells 32,419,808 Shares of Duke Energy Corporation $DUK

Lazard Asset Management LLC cut its position in shares of Duke Energy Corporation (NYSE:DUK) by 99.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,070 shares of the utilities provider’s stock after selling 32,419,808 shares during the quarter. Lazard Asset Management LLC’s holdings in Duke Energy were worth $4,592,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DUK. Basso Capital Management L.P. purchased a new position in shares of Duke Energy in the 4th quarter worth approximately $25,000. Dorato Capital Management purchased a new stake in shares of Duke Energy during the fourth quarter valued at approximately $26,000. Evolution Wealth Management Inc. lifted its holdings in Duke Energy by 1,111.1% during the fourth quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 200 shares during the period. Triumph Capital Management lifted its holdings in Duke Energy by 68.6% during the fourth quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 94 shares during the period. Finally, Cornerstone Financial Management LLC purchased a new position in Duke Energy in the fourth quarter worth $28,000. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Trending Headlines about Duke Energy

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

• Positive Sentiment: Analysts have assigned Duke Energy a consensus “Moderate Buy” rating, indicating generally favorable expectations for the stock. Duke Energy Corporation Given Consensus Rating of Moderate Buy
• Positive Sentiment: Duke Energy’s upcoming second-quarter results are expected to benefit from grid investments, rising electricity demand and infrastructure milestones, with analysts looking for year-over-year EPS growth. Duke Energy to Release Q2 Earnings
• Positive Sentiment: New underground power-line construction and plans to employ about 1,000 workers on multibillion-dollar generation projects underscore Duke Energy’s long-term capital-investment and reliability strategy, while potentially supporting future rate-base growth. Duke Energy Starts Installing Underground Power Lines
• Neutral Sentiment: Duke Energy restored power to customers in western North Carolina following severe storms. The recovery demonstrates operational responsiveness, although storm-related restoration work can create short-term costs. Power Restored to Western North Carolina Customers
• Negative Sentiment: North Carolina regulators reduced a proposed Duke Energy rate increase by nearly half. Although customer bills would still rise, the smaller increase could limit near-term revenue and earnings support relative to the company’s original request. North Carolina Duke Energy Rate Hike Is Cut

Insider Activity at Duke Energy

In related news, CEO Harry K. Sideris sold 20,000 shares of the 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 sale, the chief executive officer 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Louis E. Renjel sold 3,500 shares of Duke Energy stock in a transaction on Monday, May 11th. The shares were sold at an average price of $125.15, for a total value of $438,025.00. Following the sale, the chief executive officer directly owned 21,415 shares of the company’s stock, valued at $2,680,087.25. This represents a 14.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DUK shares. Mizuho decreased their target price on Duke Energy from $139.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, June 18th. Barclays cut their price target on shares of Duke Energy from $143.00 to $134.00 and set an “overweight” rating on the stock in a report on Thursday, June 18th. Jefferies Financial Group reduced their price target on shares of Duke Energy from $143.00 to $138.00 in a research report on Monday, May 11th. Truist Financial raised their price objective on shares of Duke Energy from $137.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Finally, UBS Group dropped their target price on shares of Duke Energy from $137.00 to $135.00 in a research note on Monday, May 11th. Ten analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Duke Energy has an average rating of “Moderate Buy” and an average price target of $138.62.

Duke Energy Stock Down 0.6%

Shares of NYSE DUK opened at $125.47 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.66 and a debt-to-equity ratio of 1.45. The company has a market cap of $97.82 billion, a P/E ratio of 19.21, a P/E/G ratio of 2.78 and a beta of 0.38. Duke Energy Corporation has a 52 week low of $113.89 and a 52 week high of $134.49. The business has a 50-day simple moving average of $125.64 and a two-hundred day simple moving average of $126.17.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, beating 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 firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the prior year, the business posted $1.76 earnings per share. The company’s revenue was up 11.3% on a year-over-year basis. Research analysts anticipate that Duke Energy Corporation will post 6.72 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be issued a dividend of $1.085 per share. This is a boost from Duke Energy’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend is Friday, August 14th. This represents a $4.34 dividend on an annualized basis and a yield of 3.5%. Duke Energy’s payout ratio is currently 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.