Balefire LLC Invests $267,000 in Duke Energy Corporation $DUK

Key Points

• Balefire LLC acquired 2,265 shares of Duke Energy Corporation, valued at approximately $267,000, marking a new position for the investment firm in the second quarter.
• Duke Energy's quarterly earnings missed analysts' consensus estimates, reporting earnings per share of $1.25 compared to the expected $1.29, while revenues increased 4.7% year-over-year.
• The company recently increased its quarterly dividend to $1.065 per share, representing an annual yield of 3.5%, up from the previous dividend of $1.05.

Balefire LLC bought a new position in Duke Energy Corporation (NYSE:DUK - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,265 shares of the utilities provider's stock, valued at approximately $267,000.

Several other hedge funds and other institutional investors have also modified their holdings of DUK. Activest Wealth Management boosted its position in shares of Duke Energy by 98.1% in the first quarter. Activest Wealth Management now owns 212 shares of the utilities provider's stock worth $26,000 after buying an additional 105 shares during the period. Vermillion Wealth Management Inc. acquired a new stake in Duke Energy during the fourth quarter valued at $27,000. Wayfinding Financial LLC acquired a new stake in Duke Energy during the first quarter valued at $27,000. N.E.W. Advisory Services LLC acquired a new stake in Duke Energy during the first quarter valued at $27,000. Finally, Mattson Financial Services LLC acquired a new stake in Duke Energy during the fourth quarter valued at $28,000. Institutional investors and hedge funds own 65.31% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Raymond James Financial assumed coverage on Duke Energy in a research report on Friday, June 13th. They set a "market perform" rating for the company. JPMorgan Chase & Co. lifted their price objective on Duke Energy from $127.00 to $131.00 and gave the company a "neutral" rating in a research report on Thursday, August 21st. Barclays raised their target price on Duke Energy from $122.00 to $131.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. The Goldman Sachs Group set a $132.00 target price on Duke Energy in a report on Tuesday, July 1st. Finally, Morgan Stanley restated an "outperform" rating on shares of Duke Energy in a report on Thursday, August 21st. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Duke Energy has a consensus rating of "Moderate Buy" and a consensus price target of $130.62.

Duke Energy Stock Performance

DUK traded up $0.14 on Monday, hitting $121.22. 265,105 shares of the stock traded hands, compared to its average volume of 3,463,666. Duke Energy Corporation has a 52 week low of $105.20 and a 52 week high of $127.85. The company has a current ratio of 0.66, a quick ratio of 0.42 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $94.26 billion, a PE ratio of 19.67, a P/E/G ratio of 2.92 and a beta of 0.39. The business has a fifty day moving average price of $121.79 and a two-hundred day moving average price of $119.34.

Duke Energy (NYSE:DUK - Get Free Report) last issued 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 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 the consensus estimate of $7.07 billion. During the same quarter in the prior year, the firm earned $1.18 earnings per share. The company's revenue was up 4.7% on a year-over-year basis. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. On average, research analysts predict 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. Shareholders of record on Friday, August 15th were issued a dividend of $1.065 per share. 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 dividend on an annualized basis and a yield of 3.5%. Duke Energy's dividend payout ratio (DPR) is presently 69.27%.

Insider Buying and Selling

In other Duke Energy news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of Duke Energy stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $124.26, for a total transaction 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. The trade was a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Bonnie B. Titone sold 2,000 shares of Duke Energy stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total value of $248,760.00. Following the sale, the senior vice president directly owned 19,608 shares in the company, valued at $2,438,843.04. The trade was a 9.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

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.