Sumitomo Mitsui Trust Group Inc. Reduces Stock Position in Duke Energy Corporation $DUK

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Duke Energy Corporation (NYSE:DUK) by 6.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,758,086 shares of the utilities provider’s stock after selling 117,497 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Duke Energy were worth $230,204,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Basso Capital Management L.P. bought a new position in shares of Duke Energy in the fourth quarter worth about $25,000. Dorato Capital Management bought a new stake in Duke Energy during the 4th quarter valued at about $26,000. Evolution Wealth Management Inc. lifted its holdings in Duke Energy by 1,111.1% during the 4th quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock valued at $26,000 after buying an additional 200 shares in the last quarter. KERR FINANCIAL PLANNING Corp purchased a new stake in Duke Energy in the 3rd quarter valued at about $27,000. Finally, Triumph Capital Management grew its stake in Duke Energy by 68.6% in the 4th quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 94 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors.

More Duke Energy News

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

• Positive Sentiment: Duke Energy is still being highlighted as a defensive stock pick as investors rotate away from tech and into safer sectors, which can support demand for the shares. 4 Defensive Stocks to Take Refuge in as Tech Sell-off Continues
• Positive Sentiment: The company is offering bill assistance and free home inspections for customers, which may help strengthen goodwill with regulators and communities. Indiana customers to receive $350,000 in bill assistance from Duke Energy this summer
• Positive Sentiment: AI-driven data center demand is boosting long-term electricity demand for utilities, which could benefit Duke Energy if it can supply that growth and secure needed equipment. US power companies scramble to secure equipment as surging data center demand strains supplies
• Neutral Sentiment: Investor attention on Duke Energy has increased, but the coverage mostly reflects market interest rather than a clear new catalyst. Investors Heavily Search Duke Energy Corporation (DUK): Here is What You Need to Know
• Neutral Sentiment: Duke Energy is facing scrutiny over its Florida data-center plan, adding uncertainty around how quickly it can capitalize on AI-related growth. Duke Energy faces first major test of Florida’s new AI data center law
• Negative Sentiment: Regulators in North Carolina and Florida are pushing back on Duke Energy’s rate and data-center plans, raising the risk of slower approvals or less favorable economics. Duke reduces rate hike request, still faces regulator pushback
• Negative Sentiment: Goldman Sachs removed Duke Energy from its U.S. Conviction List, which may weigh on near-term sentiment. Goldman Sachs Removes Duke Energy (DUK) from its US Conviction List

Duke Energy Stock Performance

Shares of NYSE:DUK opened at $125.27 on Friday. The firm has a 50 day moving average of $124.97 and a 200 day moving average of $125.12. 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 capitalization of $97.66 billion, a price-to-earnings ratio of 19.18 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.

Duke Energy (NYSE:DUK) last announced its earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.06. The business had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.44 billion. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.76 EPS. On average, sell-side analysts predict that Duke Energy Corporation will post 6.71 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Friday, May 15th were given a dividend of $1.065 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.26 dividend on an annualized basis and a yield of 3.4%. Duke Energy’s dividend payout ratio (DPR) is presently 65.24%.

Insider Activity

In other Duke Energy news, CEO Harry K. Sideris sold 20,000 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $124.37, for a total value of $2,487,400.00. Following the completion of the transaction, the chief executive officer directly owned 96,102 shares in the company, valued at approximately $11,952,205.74. The trade was a 17.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Louis E. Renjel sold 3,500 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $125.15, for a total transaction of $438,025.00. Following the sale, the chief executive officer directly owned 21,415 shares of the company’s stock, valued at approximately $2,680,087.25. The trade was a 14.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on DUK. JPMorgan Chase & Co. reduced their target price on shares of Duke Energy from $139.00 to $136.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Barclays dropped their price objective on Duke Energy from $143.00 to $134.00 and set an “overweight” rating on the stock in a research note on Thursday, June 18th. Weiss Ratings restated a “buy (b)” rating on shares of Duke Energy in a report on Monday, May 4th. Wall Street Zen raised Duke Energy from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, BMO Capital Markets lowered their target price on Duke Energy from $139.00 to $138.00 in a report on Wednesday, May 6th. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $138.33.

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.