Duke Energy Corporation $DUK Position Lessened by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in Duke Energy Corporation (NYSE:DUK) by 5.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,243,806 shares of the utilities provider’s stock after selling 373,349 shares during the quarter. Wellington Management Group LLP’s holdings in Duke Energy were worth $790,341,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DUK. Ables Iannone Moore & Associates Inc. grew its stake in shares of Duke Energy by 1.2% in the 2nd quarter. Ables Iannone Moore & Associates Inc. now owns 6,623 shares of the utilities provider’s stock valued at $838,000 after buying an additional 80 shares in the last quarter. Sharp Wealth Advisory LLC increased its stake in shares of Duke Energy by 4.5% during the 1st quarter. Sharp Wealth Advisory LLC now owns 1,876 shares of the utilities provider’s stock worth $246,000 after purchasing an additional 81 shares during the last quarter. Absher Wealth Management LLC raised its holdings in shares of Duke Energy by 2.3% during the 1st quarter. Absher Wealth Management LLC now owns 3,648 shares of the utilities provider’s stock valued at $478,000 after purchasing an additional 81 shares in the last quarter. A4 Wealth Advisors LLC lifted its stake in shares of Duke Energy by 3.3% in the 4th quarter. A4 Wealth Advisors LLC now owns 2,597 shares of the utilities provider’s stock valued at $304,000 after purchasing an additional 82 shares during the last quarter. Finally, Elm Partners Management LLC raised its holdings in Duke Energy by 0.9% during the fourth quarter. Elm Partners Management LLC now owns 9,254 shares of the utilities provider’s stock valued at $1,085,000 after buying an additional 83 shares in the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Stock Performance

NYSE:DUK opened at $120.20 on Friday. The firm’s 50-day moving average is $125.32 and its 200-day moving average is $126.61. Duke Energy Corporation has a 52-week low of $113.89 and a 52-week high of $134.49. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.43 and a current ratio of 0.66. The company has a market cap of $93.72 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 2.81 and a beta of 0.38.

Duke Energy (NYSE:DUK) last announced its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.13. Duke Energy had a net margin of 15.78% and a return on equity of 9.78%. The business had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.66 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts anticipate that Duke Energy Corporation will post 6.72 earnings per share for the current year.

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Friday, August 14th will be given a dividend of $1.085 per share. This is a boost from Duke Energy’s previous quarterly dividend of $1.06. This represents a $4.34 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, August 14th. Duke Energy’s dividend payout ratio (DPR) is presently 65.17%.

Key Stories Impacting Duke Energy

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

• Positive Sentiment: Duke Energy restored power to customers in Greenville and Spartanburg counties after severe thunderstorms. The relatively quick restoration limits the potential financial and reputational impact of the outages. Power restored after storms in Spartanburg County
• Neutral Sentiment: Bank of America’s view that dividend-paying stocks may provide stability in choppy markets could be generally supportive for regulated utilities such as Duke, although the report’s supplied details do not identify a specific recommendation for DUK. BofA names dividend stocks for stability
• Neutral Sentiment: An analysis describes DUK as potentially undervalued by about 13%, but says regulatory proceedings involving PJM and Florida tariff treatment for large customers could affect future cost allocation between shareholders and customers. The potential valuation upside is therefore balanced by policy risk. Duke Energy could be undervalued as regulatory questions build
• Negative Sentiment: Duke’s newly issued equity units may strengthen funding flexibility, but the financing also raises concerns about additional issuance and potential dilution for existing shareholders. Duke Energy newly issued equity units
• Negative Sentiment: Residents and organizers are protesting Duke’s proposed Davidson-Davie gas complex, while a separate petition effort in St. Petersburg seeks to place an anti-Duke measure on the ballot. Opposition could delay projects, increase compliance costs or create additional political risk. Debate over Davie-Davidson Energy Complex

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Barclays decreased their price target on Duke Energy from $140.00 to $132.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Jefferies Financial Group decreased their price objective on shares of Duke Energy from $143.00 to $138.00 in a report on Monday, May 11th. KeyCorp upgraded shares of Duke Energy from a “sector weight” rating to an “overweight” rating and set a $139.00 target price on the stock in a research note on Thursday, July 23rd. BMO Capital Markets cut their target price on shares of Duke Energy from $134.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, August 5th. Finally, Mizuho set a $136.00 price target on shares of Duke Energy in a report on Wednesday, August 5th. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $137.94.

Duke Energy Company 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.