Stock Yards Bank & Trust Co. Sells 2,430 Shares of Duke Energy Corporation $DUK

Stock Yards Bank & Trust Co. cut its holdings in Duke Energy Corporation (NYSE:DUK) by 7.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,937 shares of the utilities provider’s stock after selling 2,430 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Duke Energy were worth $3,769,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of DUK. Cambridge Investment Research Advisors Inc. grew its holdings in Duke Energy by 7.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 291,667 shares of the utilities provider’s stock valued at $35,575,000 after purchasing an additional 20,942 shares during the period. Pinnacle Financial Partners Inc grew its holdings in Duke Energy by 9.9% during the first quarter. Pinnacle Financial Partners Inc now owns 127,419 shares of the utilities provider’s stock valued at $14,451,000 after purchasing an additional 11,445 shares during the period. Beacon Investment Advisory Services Inc. grew its holdings in Duke Energy by 8.1% during the first quarter. Beacon Investment Advisory Services Inc. now owns 51,354 shares of the utilities provider’s stock valued at $6,264,000 after purchasing an additional 3,837 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Duke Energy by 1.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,656,244 shares of the utilities provider’s stock valued at $1,055,087,000 after purchasing an additional 93,699 shares during the period. Finally, Resolution Capital Ltd grew its holdings in Duke Energy by 7.6% during the first quarter. Resolution Capital Ltd now owns 59,995 shares of the utilities provider’s stock valued at $7,318,000 after purchasing an additional 4,255 shares during the period. 65.31% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Bonnie B. Titone sold 2,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $124.38, for a total value of $248,760.00. Following the sale, the senior vice president owned 19,608 shares in the company, valued at approximately $2,438,843.04. This trade represents a 9.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $124.26, for a total value of $832,542.00. Following the sale, the executive vice president owned 46,422 shares in the company, valued at $5,768,397.72. The trade was a 12.61% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Duke Energy Trading Up 1.7%

Shares of DUK stock opened at $123.58 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.42 and a current ratio of 0.66. Duke Energy Corporation has a 52-week low of $105.20 and a 52-week high of $127.85. The company has a market capitalization of $96.10 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 2.93 and a beta of 0.44. The business’s fifty day moving average is $122.58 and its 200 day moving average is $119.61.

Duke Energy (NYSE:DUK) last issued its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.04). Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The business had revenue of $7.51 billion during the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter last year, the business posted $1.18 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. On average, equities research analysts anticipate that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 15th were given a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. This is a boost from Duke Energy’s previous quarterly dividend of $1.05. The ex-dividend date was Friday, August 15th. Duke Energy’s dividend payout ratio (DPR) is 69.27%.

Analyst Ratings Changes

Several brokerages have weighed in on DUK. Barclays increased their price objective on Duke Energy from $122.00 to $131.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. Scotiabank set a $137.00 price objective on Duke Energy and gave the company a “sector outperform” rating in a report on Friday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Duke Energy in a report on Saturday, September 27th. The Goldman Sachs Group set a $132.00 price target on Duke Energy in a report on Tuesday, July 1st. Finally, BMO Capital Markets raised their price target on Duke Energy from $131.00 to $132.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Duke Energy currently has an average rating of “Moderate Buy” and an average target price of $132.25.

About Duke Energy

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.