HBK Sorce Advisory LLC Cuts Position in Duke Energy Corporation $DUK

HBK Sorce Advisory LLC lessened its stake in Duke Energy Corporation (NYSE:DUK) by 1.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,550 shares of the utilities provider’s stock after selling 212 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Duke Energy were worth $1,363,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in DUK. Activest Wealth Management increased its holdings in shares of Duke Energy by 98.1% in the 1st quarter. Activest Wealth Management now owns 212 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 105 shares in the last quarter. Wayfinding Financial LLC purchased a new position in shares of Duke Energy in the 1st quarter valued at about $27,000. N.E.W. Advisory Services LLC purchased a new position in shares of Duke Energy in the 1st quarter valued at about $27,000. Mascoma Wealth Management LLC increased its holdings in shares of Duke Energy by 53.7% in the 2nd quarter. Mascoma Wealth Management LLC now owns 249 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 87 shares in the last quarter. Finally, Financial Network Wealth Advisors LLC increased its holdings in shares of Duke Energy by 360.0% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 253 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Price Performance

Duke Energy stock opened at $125.11 on Friday. Duke Energy Corporation has a 12-month low of $105.20 and a 12-month high of $130.03. The stock has a market capitalization of $97.28 billion, a P/E ratio of 20.34, a P/E/G ratio of 3.05 and a beta of 0.44. The firm’s 50-day moving average is $123.89 and its two-hundred day moving average is $120.71. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.66 and a quick ratio of 0.42.

Duke Energy (NYSE:DUK) last released its quarterly earnings results 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). Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The firm had revenue of $7.51 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same period in the prior year, the business earned $1.18 earnings per share. Duke Energy’s revenue for the quarter was up 4.7% on a year-over-year basis. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. Equities analysts predict that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 14th will be given a $1.065 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $4.26 annualized dividend and a dividend yield of 3.4%. Duke Energy’s dividend payout ratio (DPR) is currently 69.27%.

Insider Activity at Duke Energy

In related news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 46,422 shares of the company’s stock, valued at approximately $5,768,397.72. This trade represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the senior vice president directly owned 19,608 shares in the company, valued at $2,438,843.04. This represents a 9.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Jefferies Financial Group increased their price objective on shares of Duke Energy from $134.00 to $138.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Evercore ISI assumed coverage on shares of Duke Energy in a research note on Monday, October 6th. They issued an “outperform” rating and a $143.00 price objective on the stock. Barclays increased their price objective on shares of Duke Energy from $131.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of Duke Energy in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Duke Energy from $131.00 to $136.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $138.00.

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.