Conning Inc. Sells 5,715,541 Shares of Duke Energy Corporation $DUK

Conning Inc. decreased its position in shares of Duke Energy Corporation (NYSE:DUK) by 99.9% during the first quarter, Holdings Channel.com reports. The fund owned 3,298 shares of the utilities provider’s stock after selling 5,715,541 shares during the quarter. Conning Inc.’s holdings in Duke Energy were worth $432,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Basso Capital Management L.P. purchased a new stake in shares of Duke Energy in the fourth quarter worth $25,000. Dorato Capital Management purchased a new position in shares of Duke Energy in the fourth quarter valued at about $26,000. Evolution Wealth Management Inc. boosted its stake in shares of Duke Energy by 1,111.1% in the fourth quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 200 shares during the period. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Duke Energy during the third quarter worth about $27,000. Finally, Triumph Capital Management raised its stake in Duke Energy by 68.6% during the 4th quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 94 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy News Summary

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

• Positive Sentiment: Duke Energy Florida said it will deliver $50 million in customer savings and avoid a planned 2027 base rate increase by accelerating the return of tax credits tied to its battery storage system, reinforcing the company’s ability to manage rates and support customers. Duke Energy Florida delivers $50 million in customer savings, avoids 2027 base rate increase through innovative tax strategy
• Positive Sentiment: Multiple market write-ups highlighted Duke Energy as a stable, cash-generating utility with solid sales growth, favorable valuation metrics, and stronger revenue consistency than some peers, which can support investor confidence in the stock. Invest in These 3 Sales Growth Stocks for Robust Returns
• Positive Sentiment: Coverage comparing Duke Energy with other utilities suggested the company has held up well versus the sector this year, underscoring its defensive appeal relative to peers. Has Duke Energy (DUK) Outpaced Other Utilities Stocks This Year?
• Neutral Sentiment: Articles about Duke Energy’s customer bill assistance and free home inspections are favorable from a public-relations standpoint, but they are unlikely to materially affect near-term earnings or valuation. Duke Energy to provide credit assistance for customers
• Neutral Sentiment: Broader industry reporting on surging data-center power demand and equipment shortages could eventually benefit utilities like Duke Energy through higher load growth, but it also signals higher costs and longer lead times, making the near-term impact mixed. US power companies scramble to secure equipment as surging data center demand strains supplies
• Negative Sentiment: Duke Energy is still facing regulatory pushback in North Carolina after reducing its requested residential rate hike, which keeps pressure on the company’s ability to win approval for higher rates. Duke reduces rate hike request, still faces regulator pushback

Insider Transactions at Duke Energy

In other news, CEO Louis E. Renjel sold 3,500 shares of the company’s 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 in the company, valued at approximately $2,680,087.25. This represents a 14.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Harry K. Sideris sold 20,000 shares of the stock in a transaction dated 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 directly owned 96,102 shares of the company’s stock, valued at approximately $11,952,205.74. The trade was a 17.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Morgan Stanley upped their price target on Duke Energy from $132.00 to $136.00 in a research note on Wednesday, June 24th. Mizuho lowered their target price on shares of Duke Energy from $139.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, June 18th. Evercore upped their target price on shares of Duke Energy from $139.00 to $140.00 in a research report on Monday, May 11th. BTIG Research reiterated a “buy” rating and issued a $139.00 price target on shares of Duke Energy in a report on Tuesday, June 2nd. Finally, Wall Street Zen upgraded shares of Duke Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Nine investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $138.33.

Duke Energy Price Performance

Shares of DUK traded up $0.21 during mid-day trading on Friday, hitting $125.47. 2,801,060 shares of the stock were exchanged, compared to its average volume of 3,706,513. The company has a market cap of $97.81 billion, a PE ratio of 19.21 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. The firm has a 50-day moving average of $124.95 and a two-hundred day moving average of $125.12. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.44 and a current ratio of 0.66.

Duke Energy (NYSE:DUK) last posted its earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, beating 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 firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period last year, the firm posted $1.76 earnings per share. Duke Energy’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts predict that Duke Energy Corporation will post 6.71 earnings per share for the current year.

Duke Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th were issued a $1.065 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. Duke Energy’s payout ratio is 65.24%.

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.