Duke Energy Corporation $DUK Shares Sold by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC trimmed its stake in Duke Energy Corporation (NYSE:DUKFree Report) by 46.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 7,985 shares of the utilities provider’s stock after selling 7,012 shares during the period. Prosperity Consulting Group LLC’s holdings in Duke Energy were worth $1,046,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in 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 last quarter. Geode Capital Management LLC lifted its stake 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 worth $2,266,675,000 after purchasing an additional 230,375 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Duke Energy by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,931,127 shares of the utilities provider’s stock worth $1,046,818,000 after buying an additional 58,375 shares during the period. Franklin Resources Inc. grew its stake 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 valued at $965,446,000 after buying an additional 954,907 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Duke Energy by 0.4% in the 3rd quarter. Northern Trust Corp now owns 7,758,700 shares of the utilities provider’s stock valued at $960,139,000 after buying an additional 31,703 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DUK. Weiss Ratings reissued a “buy (b)” rating on shares of Duke Energy in a research note on Monday, May 4th. Jefferies Financial Group dropped their target price on Duke Energy from $143.00 to $138.00 in a research report on Monday, May 11th. Barclays reduced their price target on shares of Duke Energy from $143.00 to $134.00 and set an “overweight” rating on the stock in a research report on Thursday, June 18th. Wells Fargo & Company raised their price objective on shares of Duke Energy from $135.00 to $136.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Finally, Wall Street Zen upgraded shares of Duke Energy from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $138.73.

Get Our Latest Research Report on Duke Energy

Key Stories Impacting 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 Trading Down 0.9%

NYSE:DUK opened at $125.04 on Friday. Duke Energy Corporation has a 12-month low of $113.89 and a 12-month high of $134.49. The firm has a market cap of $97.48 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 2.78 and a beta of 0.38. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. The stock has a fifty day moving average price of $124.89 and a 200 day moving average price of $125.42.

Duke Energy (NYSE:DUKGet Free Report) last issued its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.06. The company had revenue of $9.18 billion for 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 was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.76 EPS. 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 company 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 dividend on an annualized basis and a dividend yield of 3.5%. Duke Energy’s payout ratio is currently 65.24%.

Insider Activity at Duke Energy

In other Duke Energy news, CEO Harry K. Sideris sold 20,000 shares of the business’s 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. The trade was a 17.23% decrease in their position. The transaction 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 firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $125.15, for a total transaction of $438,025.00. Following the completion of the sale, the chief executive officer owned 21,415 shares in the company, valued at $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 company insiders.

Duke Energy Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Duke Energy (NYSE:DUK)

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