Lazard Asset Management LLC Cuts Holdings in Duke Energy Corporation $DUK

Lazard Asset Management LLC decreased its stake in Duke Energy Corporation (NYSE:DUK) by 99.9% during the first quarter, Holdings Channel.com reports. The institutional investor 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 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Duke Energy by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider’s stock worth $9,172,709,000 after acquiring an additional 1,957,592 shares in the last quarter. Amundi raised its position in Duke Energy by 56.9% during the fourth quarter. Amundi now owns 2,662,460 shares of the utilities provider’s stock valued at $312,067,000 after purchasing an additional 965,808 shares in the last quarter. Franklin Resources Inc. raised its position in 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. Milford Funds Ltd. bought a new stake in Duke Energy during the fourth quarter worth about $97,905,000. Finally, Cohen & Steers Inc. boosted its holdings in shares of Duke Energy by 83.3% in the 4th quarter. Cohen & Steers Inc. now owns 1,711,445 shares of the utilities provider’s stock worth $200,598,000 after purchasing an additional 777,878 shares in the last quarter. 65.31% of the stock is owned by institutional investors.

Duke Energy Trading Down 0.6%

NYSE:DUK opened at $125.47 on Friday. The firm has a market capitalization 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. 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 fifty day moving average of $125.64 and a 200 day moving average of $126.17. Duke Energy Corporation has a 52 week low of $113.89 and a 52 week high of $134.49.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share (EPS) for the quarter, topping 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 business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the firm earned $1.76 EPS. The company’s revenue was up 11.3% on a year-over-year basis. On average, research analysts predict that Duke Energy Corporation will post 6.72 earnings per share for the current 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 issued a dividend of $1.085 per share. This is an increase 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 3.5%. The ex-dividend date is Friday, August 14th. Duke Energy’s dividend payout ratio (DPR) is currently 65.24%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Barclays reduced their price objective on Duke Energy from $143.00 to $134.00 and set an “overweight” rating on the stock in a research report on Thursday, June 18th. JPMorgan Chase & Co. upped their target price on Duke Energy from $136.00 to $141.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Wells Fargo & Company increased their price target on shares of Duke Energy from $135.00 to $136.00 and gave the company an “equal weight” rating in a research report on Monday, April 20th. Truist Financial increased their price target on shares of Duke Energy from $137.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Finally, KeyCorp upgraded shares of Duke Energy from a “sector weight” rating to an “overweight” rating and set a $139.00 price objective for the company in a report on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Duke Energy currently has an average rating of “Moderate Buy” and a consensus target price of $138.62.

More Duke Energy News

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

In other Duke Energy news, CEO Louis E. Renjel sold 3,500 shares of the company’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 transaction of $438,025.00. Following the completion of the transaction, the chief executive officer 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Harry K. Sideris sold 20,000 shares of the 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 completion of the sale, the chief executive officer owned 96,102 shares of the company’s stock, valued at approximately $11,952,205.74. This trade represents a 17.23% decrease in their position. The SEC filing for this sale provides additional information. 0.12% of the stock is owned by company insiders.

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.