BCS Wealth Management Acquires 6,333 Shares of Duke Energy Corporation $DUK

Key Points

• BCS Wealth Management significantly increased its stake in Duke Energy, acquiring an additional 6,333 shares, resulting in a total holding of 8,095 shares valued at approximately $955,000 as of the end of the most recent quarter.
• Several institutional investors have also raised their stakes in Duke Energy, leading to 65.31% of the stock now being owned by institutional investors.
• Duke Energy recently raised its quarterly dividend to $1.065 per share, representing an annualized yield of 3.5%, an increase from its previous dividend of $1.05.

BCS Wealth Management boosted its holdings in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 359.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,095 shares of the utilities provider's stock after buying an additional 6,333 shares during the quarter. BCS Wealth Management's holdings in Duke Energy were worth $955,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DUK. Activest Wealth Management increased its stake 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 worth $26,000 after purchasing an additional 105 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in Duke Energy during the first quarter valued at about $27,000. Wayfinding Financial LLC bought a new position in shares of Duke Energy in the first quarter worth about $27,000. Mattson Financial Services LLC purchased a new position in shares of Duke Energy during the 4th quarter valued at about $28,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Duke Energy during the 4th quarter valued at approximately $27,000. 65.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on DUK shares. 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 research note on Thursday, August 21st. Scotiabank raised their price objective on shares of Duke Energy from $120.00 to $128.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 6th. The Goldman Sachs Group set a $132.00 target price on shares of Duke Energy in a report on Tuesday, July 1st. Raymond James Financial assumed coverage on Duke Energy in a research note on Friday, June 13th. They issued a "market perform" rating for the company. Finally, BMO Capital Markets boosted their price objective on Duke Energy from $131.00 to $132.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $130.62.

Insiders Place Their Bets

In related news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the business's 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 sale, the executive vice president owned 46,422 shares in the company, valued at approximately $5,768,397.72. The trade was a 12.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Bonnie B. Titone sold 2,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total transaction of $248,760.00. Following 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 disclosure for this sale can be found here. Company insiders own 0.14% of the company's stock.

Duke Energy Stock Up 1.2%

Shares of DUK stock opened at $123.01 on Wednesday. The company's fifty day simple moving average is $121.99 and its two-hundred day simple moving average is $119.40. Duke Energy Corporation has a 52 week low of $105.20 and a 52 week high of $127.85. The stock has a market cap of $95.65 billion, a P/E ratio of 20.00, a PEG ratio of 2.93 and a beta of 0.39. 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 - Get Free Report) last issued its 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 during the quarter, compared to the consensus estimate of $7.07 billion. During the same period last year, the firm posted $1.18 earnings per share. The company's revenue for the quarter 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. Analysts predict that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Increases Dividend

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

Duke Energy Company 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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