Corundum Group Inc. Buys 161 Shares of Duke Energy Corporation $DUK

Corundum Group Inc. lifted its stake in Duke Energy Corporation (NYSE:DUK) by 1.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,672 shares of the utilities provider’s stock after acquiring an additional 161 shares during the period. Corundum Group Inc.’s holdings in Duke Energy were worth $1,141,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Duke Energy by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider’s stock worth $9,094,327,000 after buying an additional 1,676,061 shares during the period. GQG Partners LLC increased its position in Duke Energy by 17,880.0% in the 1st quarter. GQG Partners LLC now owns 10,249,508 shares of the utilities provider’s stock worth $1,250,133,000 after buying an additional 10,192,503 shares during the period. Royal Bank of Canada increased its position in Duke Energy by 4.9% in the 1st quarter. Royal Bank of Canada now owns 8,921,517 shares of the utilities provider’s stock worth $1,088,158,000 after buying an additional 418,014 shares during the period. Charles Schwab Investment Management Inc. increased its position in 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 worth $1,055,087,000 after buying an additional 93,699 shares during the period. Finally, Northern Trust Corp increased its position in Duke Energy by 1.9% in the 1st quarter. Northern Trust Corp now owns 8,153,615 shares of the utilities provider’s stock worth $994,496,000 after buying an additional 152,542 shares during the period. 65.31% of the stock is owned by institutional investors.

Duke Energy Price Performance

Duke Energy stock opened at $123.58 on Friday. 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 firm has a market cap of $96.10 billion, a P/E ratio of 20.09, a P/E/G ratio of 2.93 and a beta of 0.44. The business’s fifty day moving average is $122.58 and its two-hundred day moving average is $119.61. Duke Energy Corporation has a 52 week low of $105.20 and a 52 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 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.04). The business had revenue of $7.51 billion during 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%.Duke Energy’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.18 EPS. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. Equities 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 announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th were paid a $1.065 dividend. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Duke Energy’s previous quarterly dividend of $1.05. This represents a $4.26 annualized dividend and a yield of 3.4%. Duke Energy’s payout ratio is currently 69.27%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Jefferies Financial Group downgraded Duke Energy from a “buy” rating to a “hold” rating and dropped their price target for the stock from $141.00 to $134.00 in a research report on Friday, September 26th. BMO Capital Markets lifted their price objective on Duke Energy from $131.00 to $132.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Scotiabank set a $137.00 price objective on Duke Energy and gave the stock a “sector outperform” rating in a report on Friday. Barclays lifted their price objective on Duke Energy from $122.00 to $131.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. Finally, The Goldman Sachs Group set a $132.00 price objective on Duke Energy in a report on Tuesday, July 1st. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Duke Energy currently has a consensus rating of “Moderate Buy” and an average price target of $132.25.

Insider Activity

In other Duke Energy news, SVP Bonnie B. Titone sold 2,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $124.38, for a total value 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 represents a 9.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the stock in a transaction dated Tuesday, August 12th. The stock was 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 owned 46,422 shares of the company’s stock, valued at $5,768,397.72. This trade represents a 12.61% 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.

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.