Concord Asset Management LLC VA Grows Position in Duke Energy Corporation $DUK

Concord Asset Management LLC VA boosted its stake in shares of Duke Energy Corporation (NYSE:DUK) by 29.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,609 shares of the utilities provider’s stock after purchasing an additional 5,124 shares during the period. Concord Asset Management LLC VA’s holdings in Duke Energy were worth $2,668,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. grew its position in Duke Energy by 7.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 291,667 shares of the utilities provider’s stock worth $35,575,000 after purchasing an additional 20,942 shares during the last quarter. Pinnacle Financial Partners Inc grew its position in Duke Energy by 9.9% during the 1st quarter. Pinnacle Financial Partners Inc now owns 127,419 shares of the utilities provider’s stock worth $14,451,000 after purchasing an additional 11,445 shares during the last quarter. Beacon Investment Advisory Services Inc. boosted its holdings in shares of Duke Energy by 8.1% in the 1st quarter. Beacon Investment Advisory Services Inc. now owns 51,354 shares of the utilities provider’s stock valued at $6,264,000 after acquiring an additional 3,837 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Duke Energy by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,656,244 shares of the utilities provider’s stock valued at $1,055,087,000 after acquiring an additional 93,699 shares during the last quarter. Finally, Resolution Capital Ltd boosted its holdings in shares of Duke Energy by 7.6% in the 1st quarter. Resolution Capital Ltd now owns 59,995 shares of the utilities provider’s stock valued at $7,318,000 after acquiring an additional 4,255 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on DUK shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Duke Energy in a report on Wednesday, October 8th. The Goldman Sachs Group set a $132.00 target price on shares of Duke Energy in a research note on Tuesday, July 1st. BMO Capital Markets boosted their target price on shares of Duke Energy from $132.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday. UBS Group boosted their target price on shares of Duke Energy from $131.00 to $137.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Scotiabank set a $137.00 target price on shares of Duke Energy and gave the company a “sector outperform” rating in a research note on Friday, October 3rd. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Duke Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.08.

Duke Energy Stock Performance

NYSE:DUK opened at $126.88 on Monday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.42 and a current ratio of 0.66. The company has a fifty day moving average of $123.06 and a two-hundred day moving average of $119.88. The stock has a market capitalization of $98.66 billion, a PE ratio of 20.63, a P/E/G ratio of 3.06 and a beta of 0.44. Duke Energy Corporation has a fifty-two week low of $105.20 and a fifty-two week high of $127.85.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.04). The company had revenue of $7.51 billion for the quarter, compared to analyst estimates of $7.07 billion. Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.18 earnings per share. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. As a group, research analysts forecast that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th were given a dividend of $1.065 per share. This is a boost from Duke Energy’s previous quarterly dividend of $1.05. This represents a $4.26 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Friday, August 15th. Duke Energy’s dividend payout ratio (DPR) is currently 69.27%.

Insiders Place Their Bets

In other news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $124.26, for a total value of $832,542.00. Following the completion of the sale, the executive vice president directly owned 46,422 shares in the company, valued at $5,768,397.72. This represents a 12.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Bonnie B. Titone sold 2,000 shares of the 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 completion of the sale, the senior vice president owned 19,608 shares of the company’s stock, valued at $2,438,843.04. This trade represents a 9.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Duke Energy Profile

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.