Caisse de Depot Et Placement Du Quebec Reduces $54M in Duke Energy Corporation ($DUK)
Caisse de Depot reduced its stake in Duke Energy by 21%, now holding 1.58 million shares.
Key Points
- Caisse de Depot Et Placement Du Quebec reduced its Duke Energy stake by 21%, cutting 423,315 shares to hold 1,584,716 shares valued at $198.5 million.
- Duke Energy, trading at $125.28, has a market cap of $97.67 billion and a P/E ratio of 19.27 with a dividend yield of 3.4%.
- Insider trades show mixed activity, while analysts maintain a generally positive outlook with a consensus price target of $138.56.
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Caisse de Depot Et Placement Du Quebec has reduced its holdings in Duke Energy Corporation (NYSE: DUK) by 21%. This latest move, reflected in its Form 13F filing with the SEC, shows a reduction of 423,315 shares. The fund now holds 1,584,716 shares valued at approximately $198.5 million as of the latest reporting period.
What Changed in Caisse de Depot's Duke Energy Position
The fund cut its stake in Duke Energy from 2,008,031 shares to 1,584,716 shares, a reduction of 21%. The shares are now valued at about $198.5 million. This adjustment indicates a strategic decision to reduce exposure to the utility giant.
Other Institutional Activity in Duke Energy
BlackRock, Inc. increased its holdings in Duke Energy by 433,230 shares, ending with 69,323,870 shares worth about $9.08 billion. State Street Corp also added 579,242 shares, holding a total of 44,532,642 shares valued at $5.83 billion. Meanwhile, Geode Capital Management, LLC boosted its position by 755,168 shares, bringing its total to 20,047,801 shares, valued at approximately $2.64 billion.
Duke Energy Corporation Stock Up 5.3%
Shares of Duke Energy (NYSE: DUK) are trading around $125.28. The company boasts a market capitalization of $97.67 billion and a P/E ratio of 19.27. Duke Energy's stock has ranged from a 52-week low of $113.66 to a high of $134.49. The stock's 50-day moving average is $125.97, while the 200-day moving average is $124.02. Duke Energy's beta is 0.379, indicating lower volatility compared to the market.
$DUK stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Duke Energy reported revenue of $32.72 billion, with a growth rate of 11.3%. The company's net margin stands at 15.7%, and it has a return on equity of 9.66%. The next earnings report is scheduled for August 4, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
2 target cuts vs 1 raises.
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EPS & revenue
EPS beat estimates by 2.2%. Revenue beat estimates by 7.8%.
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Profit surprise
EBITDA beat by 10 percent. Operating income beat by 16 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
1 target raise, 2 target cuts.
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Earnings quality
Gross margin up 16.1 points. Operating margin up 1.3 points. Positive free cash flow.
Earnings Call Summary
Duke delivered $1.93 in adjusted earnings per share, beating the $1.79 target, driven by infrastructure spending and favorable weather. The company signed $2.7 billion in data center contracts this quarter, bringing total to $7.6 billion, with 15.4 billion in discussions. Major wins include $3.1 billion in clean energy tax credits for customers and approval to combine two Carolina utilities, saving customers $2.3 billion by 2040. The company closed over $5 billion in asset sales and is executing its largest regulated capital plan.
Guidance Duke reaffirmed its 2026 earnings target of $6.55 to $6.80 per share and 5 to 7 percent yearly growth through 2030, with confidence to hit the top half of the range starting in 2028. The company expects data center customers to begin taking power in late 2027 and into 2028, ramping through the early 2030s. Management will update load forecasts more frequently as deals accelerate.
Underwhelming report. Mixed results that may lead to slightly lower expectations.
Dividend
Duke Energy offers an annual dividend rate of $4.26, yielding 3.4% based on current prices. The dividend payout ratio is 65.23%, indicating a significant portion of earnings is returned to shareholders.
Insider Buying and Selling at Duke Energy Corporation
Recent insider activity at Duke Energy includes Alexander Weintraub, EVP and Chief Customer Officer, purchasing 394 shares on May 20, 2026, at an average price of $123.81, and 3,265 shares on May 19, 2026, at $124.56. Conversely, CEO Harry Sideris sold 20,000 shares on May 8, 2026, at $124.37.
Analysts Set New Price Targets
On May 18, 2026, Truist Securities maintained its "buy" rating on Duke Energy, setting a price target of $137.00. JP Morgan maintained a "hold" rating with a target of $136.00 on May 13, 2026. The average analyst target is $138.56, with a consensus recommendation to "buy."
About Duke Energy
Duke Energy Corporation, headquartered in Charlotte, North Carolina, is a major energy provider in the United States. It operates through segments focusing on electric and gas utilities, serving customers in the Southeast and Midwest. Duke Energy generates electricity from a diverse mix of sources, including renewables and nuclear, and distributes natural gas across various sectors. The company is led by CEO Harry K. Sideris and employs over 26,000 people.
Bottom Line
Caisse de Depot's reduction in its Duke Energy stake is a notable change in its investment strategy. Investors often track such moves to gauge institutional confidence in a company. However, it's important to remember that 13F filings are historical and may not reflect the current position. Duke Energy remains a significant player in the utilities sector, with stable earnings and a strong dividend offering.
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