HB Wealth Management LLC Raises Stake in Duke Energy Corporation $DUK

HB Wealth Management LLC grew its holdings in shares of Duke Energy Corporation (NYSE:DUK) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,467 shares of the utilities provider’s stock after acquiring an additional 1,660 shares during the quarter. HB Wealth Management LLC’s holdings in Duke Energy were worth $8,787,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Toth Financial Advisory Corp lifted its stake in Duke Energy by 31.6% in the first quarter. Toth Financial Advisory Corp now owns 346 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 83 shares during the last quarter. Reyes Financial Architecture Inc. lifted its stake in shares of Duke Energy by 4.8% in the 1st quarter. Reyes Financial Architecture Inc. now owns 1,827 shares of the utilities provider’s stock valued at $223,000 after acquiring an additional 83 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Duke Energy by 2.8% during the 1st quarter. Revolve Wealth Partners LLC now owns 3,034 shares of the utilities provider’s stock valued at $370,000 after acquiring an additional 84 shares during the period. Lokken Investment Group LLC grew its position in Duke Energy by 3.3% during the 1st quarter. Lokken Investment Group LLC now owns 2,633 shares of the utilities provider’s stock worth $321,000 after acquiring an additional 84 shares during the last quarter. Finally, Sheets Smith Wealth Management increased its stake in Duke Energy by 0.3% in the 1st quarter. Sheets Smith Wealth Management now owns 27,517 shares of the utilities provider’s stock worth $3,356,000 after purchasing an additional 85 shares during the period. Institutional investors own 65.31% of the company’s stock.

Duke Energy Trading Up 0.7%

NYSE DUK opened at $123.71 on Wednesday. The firm has a market capitalization of $96.20 billion, a PE ratio of 20.12, a P/E/G ratio of 2.96 and a beta of 0.39. The stock’s 50 day moving average is $122.41 and its 200 day moving average is $119.57. Duke Energy Corporation has a twelve month low of $105.20 and a twelve month high of $127.85. The company has a quick ratio of 0.42, a current ratio of 0.66 and a debt-to-equity ratio of 1.55.

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

Duke Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th were paid a dividend of $1.065 per share. This is a positive change from Duke Energy’s previous quarterly dividend of $1.05. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, August 15th. Duke Energy’s payout ratio is 69.27%.

Wall Street Analysts Forecast Growth

DUK has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Duke Energy from $127.00 to $131.00 and gave the stock a “neutral” rating in a report on Thursday, August 21st. UBS Group reissued a “neutral” rating and issued a $127.00 price target (up previously from $124.00) on shares of Duke Energy in a report on Friday, July 11th. BMO Capital Markets upped their price objective on shares of Duke Energy from $131.00 to $132.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. The Goldman Sachs Group set a $132.00 target price on Duke Energy in a research note on Tuesday, July 1st. Finally, Barclays upped their price target on Duke Energy from $122.00 to $131.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Duke Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.50.

Insider Activity at Duke Energy

In related news, SVP Bonnie B. Titone sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $124.38, for a total transaction of $248,760.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of Duke Energy stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $124.26, for a total value of $832,542.00. Following the transaction, the executive vice president owned 46,422 shares of the company’s stock, valued at $5,768,397.72. The trade was a 12.61% decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

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.