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Gateway Investment Advisers LLC reduced its position in shares of Duke Energy Corporation (NYSE:DUK – Free Report) by 9.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,466 shares of the utilities provider’s stock after selling 465 shares during the period. Gateway Investment Advisers LLC’s holdings in Duke Energy were worth $527,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Activest Wealth Management lifted its position in shares of Duke Energy by 98.1% during the first quarter. Activest Wealth Management now owns 212 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 105 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Duke Energy during the first quarter worth $27,000. Wayfinding Financial LLC acquired a new position in shares of Duke Energy during the first quarter worth $27,000. Mattson Financial Services LLC acquired a new position in shares of Duke Energy during the fourth quarter worth $28,000. Finally, Vermillion Wealth Management Inc. acquired a new position in shares of Duke Energy during the fourth quarter worth $27,000. 65.31% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Duke Energy
In other news, 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 transaction of $832,542.00. Following the completion of the transaction, the executive vice president owned 46,422 shares in the company, valued at approximately $5,768,397.72. This trade represents a 12.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Bonnie B. Titone sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total transaction of $248,760.00. Following the transaction, the senior vice president owned 19,608 shares of the company’s stock, valued at approximately $2,438,843.04. This trade represents a 9.26% 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 Down 0.5%
Duke Energy stock opened at $120.45 on Friday. The firm has a 50 day simple moving average of $121.72 and a 200-day simple moving average of $119.25. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.66 and a quick ratio of 0.42. The stock has a market capitalization of $93.66 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 2.92 and a beta of 0.39. Duke Energy Corporation has a 12-month low of $105.20 and a 12-month high of $127.85.
Duke Energy (NYSE:DUK – Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.04). The company had revenue of $7.51 billion during the quarter, compared to the consensus estimate of $7.07 billion. Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $1.18 earnings per share. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. As a group, equities research analysts expect that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.
Duke Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th were issued a $1.065 dividend. This represents a $4.26 annualized dividend and a dividend yield of 3.5%. 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 payout ratio is 69.27%.
Analysts Set New Price Targets
Several research firms recently issued reports on DUK. Scotiabank upped their price target on shares of Duke Energy from $120.00 to $128.00 and gave the company a “sector perform” rating in a report on Wednesday, August 6th. Morgan Stanley reaffirmed an “outperform” rating on shares of Duke Energy in a report on Thursday, August 21st. UBS Group reaffirmed a “neutral” rating and issued a $127.00 price target (up from $124.00) on shares of Duke Energy in a report on Friday, July 11th. JPMorgan Chase & Co. upped their price target on shares of Duke Energy from $127.00 to $131.00 and gave the company a “neutral” rating in a report on Thursday, August 21st. Finally, Raymond James Financial began coverage on shares of Duke Energy in a report on Friday, June 13th. They issued a “market perform” rating on the stock. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $130.62.
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.
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