Bartlett & CO. Wealth Management LLC Lowers Holdings in Duke Energy Corporation $DUK

Bartlett & CO. Wealth Management LLC cut its stake in Duke Energy Corporation (NYSE:DUK) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 579,699 shares of the utilities provider’s stock after selling 12,972 shares during the quarter. Bartlett & CO. Wealth Management LLC owned approximately 0.07% of Duke Energy worth $73,883,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 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 period. Geode Capital Management LLC grew its position in Duke Energy by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 19,292,633 shares of the utilities provider’s stock valued at $2,266,675,000 after buying an additional 230,375 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Duke Energy by 0.7% in the fourth 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 buying an additional 58,375 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Duke Energy by 13.1% in the fourth quarter. Franklin Resources Inc. now owns 8,236,893 shares of the utilities provider’s stock worth $965,446,000 after acquiring an additional 954,907 shares during the period. Finally, Northern Trust Corp raised its position 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 acquiring an additional 31,703 shares during the period. Institutional investors and hedge funds 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: Truist raised its price target on Duke Energy to $138 and reiterated a Buy rating, signaling confidence in the utility’s earnings outlook and suggesting meaningful upside from current levels. Benzinga report on Truist rating update
• Positive Sentiment: JPMorgan also lifted its price target to $141, even while keeping a Neutral rating, which still reflects expectations for solid longer-term value creation. Benzinga report on JPMorgan target increase
• Positive Sentiment: Recent commentary highlighted Duke Energy as one of the utilities best positioned for long-term growth thanks to its strong customer base and large capital expenditure program, with analysts pointing to contracted load and new demand from data centers as supportive of future earnings. Seeking Alpha article
• Neutral Sentiment: Duke Energy is expected to report second-quarter results next month, and analysts are looking for a modest earnings increase, keeping attention on whether the company can deliver on its growth plans. Barchart article
• Neutral Sentiment: Local coverage suggests Clearwater may renew its long-term electricity contract with Duke Energy, which would help preserve customer relationships and support revenue stability. Yahoo Finance article
• Negative Sentiment: North Carolina’s attorney general is challenging proposed Duke Energy Progress rate increases, adding another regulatory hurdle that could limit future pricing power and earnings growth. MSN article
• Negative Sentiment: Additional reports say AG Jeff Jackson is seeking to block nearly $1 billion in Duke Energy rate hikes over the next two years, reinforcing investor concerns about regulatory pushback on returns. Yahoo News article

Duke Energy Stock Down 0.9%

DUK stock opened at $125.04 on Friday. Duke Energy Corporation has a 52 week low of $113.89 and a 52 week high of $134.49. 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 firm has a 50-day simple moving average of $124.89 and a 200-day simple moving average of $125.42. The stock has a market capitalization of $97.48 billion, a P/E ratio of 19.15, a P/E/G ratio of 2.78 and a beta of 0.38.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.06. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period last year, the company posted $1.76 EPS. Duke Energy’s quarterly revenue was up 11.3% compared to the same quarter last year. Equities analysts forecast 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. Stockholders of record on Friday, August 14th will be given a $1.085 dividend. This represents a $4.34 annualized dividend and a dividend yield of 3.5%. This is a boost from Duke Energy’s previous quarterly dividend of $1.06. The ex-dividend date is Friday, August 14th. Duke Energy’s dividend payout ratio (DPR) is 65.24%.

Analysts Set New Price Targets

DUK has been the topic of a number of analyst reports. Wall Street Zen upgraded Duke Energy from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Mizuho reduced their price target on Duke Energy from $139.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, June 18th. UBS Group lowered their price target on Duke Energy from $137.00 to $135.00 in a research report on Monday, May 11th. Morgan Stanley raised their price objective on Duke Energy from $132.00 to $136.00 in a report on Wednesday, June 24th. Finally, Wells Fargo & Company boosted their price objective on Duke Energy from $135.00 to $136.00 and gave the company an “equal weight” rating in a research report on Monday, April 20th. Nine investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $138.73.

Insider Activity at Duke Energy

In other news, CEO Harry K. Sideris sold 20,000 shares of Duke Energy stock in a transaction that occurred 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 directly owned 96,102 shares of the company’s stock, valued at $11,952,205.74. The trade was a 17.23% decrease in their ownership of the stock. The sale 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 business’s stock in a transaction that occurred 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 sale, the chief executive officer 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. Company insiders own 0.12% of the company’s stock.

About Duke Energy

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.