93,900 Shares in Duke Energy Corporation $DUK Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• The Virginia Retirement Systems ET Al purchased 93,900 shares of Duke Energy, valued at approximately $11,080,000, during the second quarter.
• Duke Energy has recently reported its earnings, with a missed EPS estimate of $1.25, compared to the consensus estimate of $1.29, although revenue surpassed expectations at $7.51 billion.
• The company declared a quarterly dividend of $1.065 per share, set to be paid on December 16th, representing an annualized yield of 3.3%.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Duke Energy Corporation (NYSE:DUK - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 93,900 shares of the utilities provider's stock, valued at approximately $11,080,000.

Several other large investors have also recently added to or reduced their stakes in DUK. GQG Partners LLC lifted its position in Duke Energy by 17,880.0% during the first 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. Nuveen LLC purchased a new position in Duke Energy during the first quarter worth about $702,351,000. Raymond James Financial Inc. lifted its stake in shares of Duke Energy by 88.1% in the 1st quarter. Raymond James Financial Inc. now owns 4,861,309 shares of the utilities provider's stock valued at $592,934,000 after purchasing an additional 2,276,948 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Duke Energy by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider's stock valued at $9,094,327,000 after purchasing an additional 1,676,061 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its stake in shares of Duke Energy by 359.1% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,132,613 shares of the utilities provider's stock valued at $138,145,000 after purchasing an additional 885,900 shares in the last quarter. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Duke Energy 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 sale, the senior vice president owned 19,608 shares in the company, valued at $2,438,843.04. This trade represents a 9.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 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 position. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

Duke Energy Stock Performance

Shares of NYSE:DUK opened at $129.00 on Tuesday. The company has a market cap of $100.31 billion, a P/E ratio of 20.98, a PEG ratio of 3.16 and a beta of 0.44. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.42 and a current ratio of 0.66. Duke Energy Corporation has a one year low of $105.20 and a one year high of $129.51. The business's 50-day simple moving average is $123.41 and its 200 day simple moving average is $120.17.

Duke Energy (NYSE:DUK - Get Free Report) last announced its earnings results 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 company had revenue of $7.51 billion for the quarter, compared to analysts' expectations of $7.07 billion. During the same quarter in the previous year, the business posted $1.18 earnings per share. 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. On average, sell-side analysts forecast that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be paid a dividend of $1.065 per share. This represents a $4.26 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, November 14th. Duke Energy's dividend payout ratio (DPR) is 69.27%.

Analysts Set New Price Targets

DUK has been the topic of several research analyst reports. The Goldman Sachs Group set a $132.00 price objective on Duke Energy in a research note on Tuesday, July 1st. Scotiabank set a $137.00 price objective on Duke Energy and gave the company a "sector outperform" rating in a research note on Friday, October 3rd. BMO Capital Markets lifted their price objective on Duke Energy from $132.00 to $135.00 and gave the company an "outperform" rating in a research note on Friday, October 10th. Barclays lifted their price objective on Duke Energy from $131.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, October 14th. Finally, Evercore ISI began coverage on Duke Energy in a research note on Monday, October 6th. They issued an "outperform" rating and a $143.00 price objective on the stock. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Duke Energy has a consensus rating of "Moderate Buy" and a consensus price target of $136.77.

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.

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