Adage Capital Partners GP L.L.C. Increases Stock Position in Duke Energy Corporation $DUK

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Duke Energy by 359.1%, now owning 1,132,613 shares valued at approximately $138.1 million.
• Duke Energy's quarterly dividend was raised to $1.065 per share, resulting in an annualized dividend yield of 3.5%.
• The company reported earnings of $1.25 per share, slightly missing analyst expectations, but revenue exceeded consensus estimates, rising to $7.51 billion.

Adage Capital Partners GP L.L.C. raised its holdings in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 359.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,132,613 shares of the utilities provider's stock after purchasing an additional 885,900 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.15% of Duke Energy worth $138,145,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management boosted its stake in Duke Energy by 98.1% during 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 during the last quarter. Vermillion Wealth Management Inc. bought a new stake in Duke Energy in the 4th quarter worth approximately $27,000. Wayfinding Financial LLC bought a new stake in Duke Energy in the 1st quarter worth approximately $27,000. N.E.W. Advisory Services LLC bought a new stake in Duke Energy in the 1st quarter worth approximately $27,000. Finally, Mattson Financial Services LLC bought a new stake in Duke Energy in the 4th quarter worth approximately $28,000. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DUK has been the subject of a number of research analyst reports. Morgan Stanley reaffirmed an "outperform" rating on shares of Duke Energy in a research report on Thursday, August 21st. Raymond James Financial initiated coverage on shares of Duke Energy in a research report on Friday, June 13th. They issued a "market perform" rating for the company. Scotiabank lifted their target price on shares of Duke Energy from $120.00 to $128.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 6th. Barclays boosted their price objective on shares of Duke Energy from $122.00 to $131.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Finally, BMO Capital Markets boosted their price objective on shares of Duke Energy from $131.00 to $132.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $130.62.

Insider Buying and Selling at Duke Energy

In related news, SVP Bonnie B. Titone sold 2,000 shares of the company's stock in a transaction 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 completion of 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president directly owned 46,422 shares of the company's stock, valued at $5,768,397.72. This represents a 12.61% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company's stock.

Duke Energy Price Performance

Duke Energy stock traded down $0.29 during mid-day trading on Friday, hitting $120.58. The stock had a trading volume of 1,980,185 shares, compared to its average volume of 2,672,641. The firm has a market capitalization of $93.77 billion, a P/E ratio of 19.61, a P/E/G ratio of 2.92 and a beta of 0.39. 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's 50 day moving average is $121.08 and its 200 day moving average is $118.92. Duke Energy Corporation has a one year low of $105.20 and a one year high of $127.85.

Duke Energy (NYSE:DUK - Get Free Report) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.04). The firm had revenue of $7.51 billion during the quarter, compared to the consensus estimate of $7.07 billion. Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The company's quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.18 EPS. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be issued a $1.065 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.26 annualized dividend and a yield of 3.5%. This is an increase from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's payout ratio is currently 69.27%.

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.