Pictet Asset Management Holding SA Has $58.51 Million Position in Duke Energy Corporation $DUK

Pictet Asset Management Holding SA lessened its holdings in shares of Duke Energy Corporation (NYSE:DUK) by 4.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 446,823 shares of the utilities provider’s stock after selling 23,065 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Duke Energy were worth $58,511,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position 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 worth $9,172,709,000 after buying an additional 1,957,592 shares during the period. Amundi grew its stake in shares of Duke Energy by 56.9% in the fourth quarter. Amundi now owns 2,662,460 shares of the utilities provider’s stock worth $312,067,000 after acquiring an additional 965,808 shares during the last quarter. 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 worth $965,446,000 after acquiring an additional 954,907 shares during the last quarter. Milford Funds Ltd. bought a new position in Duke Energy during the fourth quarter worth $97,905,000. Finally, Cohen & Steers Inc. raised its stake in Duke Energy by 83.3% during the 4th quarter. Cohen & Steers Inc. now owns 1,711,445 shares of the utilities provider’s stock valued at $200,598,000 after purchasing an additional 777,878 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.

Key Stories Impacting Duke Energy

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

• Positive Sentiment: Duke Energy reached a settlement to terminate its North Carolina offshore wind lease and may redirect roughly $129 million into new generating capacity and grid modernization, including possible nuclear and natural gas investments, which investors may view as a better use of capital than a delayed wind project. Reuters: Duke Energy to terminate North Carolina offshore wind lease
• Positive Sentiment: A Zacks note highlighted Duke Energy’s $103 billion investment plan, pointing to grid upgrades, new generation, and rising power demand as drivers of multi-year earnings and dividend growth. Zacks: Can Duke Energy’s Investment Plan Deliver Years of Earnings Growth?
• Positive Sentiment: Morgan Stanley reportedly raised its price target on Duke Energy, reinforcing a more bullish outlook from analysts. Yahoo Finance: Morgan Stanley Lifts Price Target on Duke Energy (DUK). Here is Why
• Neutral Sentiment: Duke Energy launched AI-powered Bill Insights and summer energy-saving tips for customers, a customer-service initiative that is unlikely to materially affect near-term earnings but could support utility usage management during peak demand. PR Newswire: New this summer: An easier way to understand your energy bill
• Neutral Sentiment: Severe weather and heat-wave headlines noted outages and conservation requests in Duke Energy’s service areas, but these appear to be near-term operational issues rather than a fundamental change in the company’s outlook. MSN: Over 1,000 Duke Energy customers without power in New Hanover County
• Negative Sentiment: Duke Energy trimmed its North Carolina rate-hike request from 18% to 11.6%, which may ease customer backlash but could also reduce upside from the company’s regulatory ask. MSN: Duke Energy cuts North Carolina rate hike request from 18% to 11.6%

Duke Energy Trading Down 0.1%

Shares of Duke Energy stock opened at $128.28 on Tuesday. Duke Energy Corporation has a 52-week low of $113.89 and a 52-week high of $134.49. The firm has a market capitalization of $100.00 billion, a PE ratio of 19.64 and a beta of 0.39. 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 company’s fifty day moving average price is $124.97 and its two-hundred day moving average price is $124.48.

Duke Energy (NYSE:DUK) last released its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, topping 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 company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same period last year, the firm earned $1.76 EPS. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, analysts expect that Duke Energy Corporation will post 6.71 EPS for the current year.

Duke Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th were issued a dividend of $1.065 per share. This represents a $4.26 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, May 15th. Duke Energy’s payout ratio is presently 65.24%.

Insider Activity at Duke Energy

In other 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Harry K. Sideris sold 20,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was 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 of the company’s stock, valued at approximately $11,952,205.74. The trade was 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

A number of analysts have weighed in on DUK shares. UBS Group reduced their price target on shares of Duke Energy from $137.00 to $135.00 in a report on Monday, May 11th. BMO Capital Markets cut their price objective on shares of Duke Energy from $139.00 to $138.00 in a research report on Wednesday, May 6th. Capitol Sec Mgt downgraded Duke Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Barclays lowered their price target 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. Finally, JPMorgan Chase & Co. reduced their price objective on Duke Energy from $139.00 to $136.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $138.33.

Duke Energy Company 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.