NewEdge Wealth LLC Cuts Position in Duke Energy Corporation $DUK

NewEdge Wealth LLC trimmed its position in shares of Duke Energy Corporation (NYSE:DUK) by 43.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,449 shares of the utilities provider’s stock after selling 4,925 shares during the period. NewEdge Wealth LLC’s holdings in Duke Energy were worth $844,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of DUK. World Investment Advisors boosted its position in Duke Energy by 62.7% in the 4th quarter. World Investment Advisors now owns 42,680 shares of the utilities provider’s stock valued at $5,003,000 after buying an additional 16,450 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Duke Energy by 22.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 132,530 shares of the utilities provider’s stock worth $15,534,000 after acquiring an additional 24,497 shares during the period. Moseley Investment Management Inc. increased its position in shares of Duke Energy by 423.6% during the fourth quarter. Moseley Investment Management Inc. now owns 9,749 shares of the utilities provider’s stock worth $1,143,000 after acquiring an additional 7,887 shares during the period. SBI Okasan Asset Management Co.Ltd. purchased a new position in Duke Energy in the fourth quarter valued at $1,316,000. Finally, Farther Finance Advisors LLC boosted its holdings in Duke Energy by 29.3% in the fourth quarter. Farther Finance Advisors LLC now owns 53,861 shares of the utilities provider’s stock valued at $6,313,000 after purchasing an additional 12,219 shares during the period. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 value of $438,025.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Harry K. Sideris sold 20,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 96,102 shares in the company, valued at $11,952,205.74. This represents a 17.23% decrease in their ownership of the stock. 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

DUK has been the topic of several recent research reports. Evercore upped their price target on Duke Energy from $139.00 to $140.00 in a report on Monday, May 11th. Morgan Stanley set a $138.00 price objective on Duke Energy in a research note on Wednesday, July 22nd. BMO Capital Markets lowered their price objective on Duke Energy from $138.00 to $134.00 and set an “outperform” rating for the company in a research report on Monday, July 20th. UBS Group cut their target price on shares of Duke Energy from $137.00 to $135.00 in a research note on Monday, May 11th. Finally, Truist Financial raised their target price on shares of Duke Energy from $137.00 to $138.00 and gave the company a “buy” rating in a report on Friday, July 17th. Ten research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Duke Energy currently has an average rating of “Moderate Buy” and an average target price of $138.62.

Duke Energy Stock Performance

NYSE:DUK opened at $128.87 on Tuesday. Duke Energy Corporation has a 12 month low of $113.89 and a 12 month high of $134.49. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.66 and a quick ratio of 0.44. The firm has a market capitalization of $100.46 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 2.88 and a beta of 0.38. The business’s fifty day moving average price is $125.42 and its 200 day moving average price is $125.93.

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. The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.44 billion. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.Duke Energy’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.76 EPS. On average, sell-side analysts anticipate that Duke Energy Corporation will post 6.72 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be paid a dividend of $1.085 per share. The ex-dividend date is Friday, August 14th. This is a positive change from Duke Energy’s previous quarterly dividend of $1.06. This represents a $4.34 annualized dividend and a yield of 3.4%. Duke Energy’s dividend payout ratio (DPR) is presently 66.46%.

Duke Energy News Summary

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

• Positive Sentiment: Duke Energy said customers will not face rate hikes specifically to recover data-center costs, arguing that the rapid growth in data-center demand should ultimately produce long-term customer savings through greater utilization of the grid. This could support load growth and future earnings if the company’s projections are validated. Duke Energy promises no rate hikes to cover data center costs Duke Energy Says Data Center Growth Will Deliver Long-Term Customer Savings
• Positive Sentiment: Duke Energy’s battery-storage strategy is expanding as data centers reshape North Carolina’s power demand. Additional storage could improve grid reliability and help the utility manage peak demand, although it also requires capital investment. Duke Energy’s battery strategy grows as data centers reshape North Carolina’s grid
• Neutral Sentiment: KeyCorp published longer-term earnings estimates for Duke Energy, giving investors an updated view of potential FY2030 profitability but offering no immediate change to the company’s operating outlook. KeyCorp Estimates Duke Energy’s FY2030 Earnings
• Neutral Sentiment: The Duke Energy Foundation announced $1 million in grants to more than 50 North Carolina nonprofits, bringing the company’s customer-assistance and community-support contributions since 2016 above $65 million. The move may bolster community relations but is unlikely to materially affect earnings. Duke Energy surpasses $65 million in North Carolina customer assistance
• Negative Sentiment: North Carolina officials, including the attorney general and Gov. Roy Cooper, are pressing Duke Energy to protect existing ratepayers from data-center-related costs and consider a separate data-center tariff. The political and regulatory pressure raises uncertainty over cost recovery and could constrain the company’s ability to earn on infrastructure investments. Attorney General calls on Duke Energy to commit to data center protections for ratepayers Gov. Stein pushes for Duke Energy to add tariff on data centers
• Negative Sentiment: Residents and state officials continue to push back against proposed electricity-rate increases, even after Duke Energy reduced its request. The dispute reinforces concerns that higher bills could trigger additional political opposition, delays, or less favorable regulatory treatment. Duke Energy reduces proposed rate increase, state officials still push back

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.