Dogwood Wealth Management LLC Purchases 3,152 Shares of Duke Energy Corporation $DUK

Key Points

• Dogwood Wealth Management LLC increased its holdings in Duke Energy Corporation by 52.8%, acquiring an additional 3,152 shares, bringing their total to 9,125 shares valued at $1.06 million as per their SEC filing.
• Insider activity included the sale of 6,700 shares by EVP Thomas Preston Jr. Gillespie, reflecting a 12.61% decrease in his ownership, while the company declared a quarterly dividend increase to $1.065 per share.
• Recent analyst reports are optimistic, with multiple firms raising their price targets for Duke Energy, including a new average target price of $131.50, alongside its recent quarterly earnings results showing a net revenue increase of 4.7% year-over-year.

Dogwood Wealth Management LLC raised its holdings in Duke Energy Corporation (NYSE:DUK - Free Report) by 52.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,125 shares of the utilities provider's stock after acquiring an additional 3,152 shares during the quarter. Dogwood Wealth Management LLC's holdings in Duke Energy were worth $1,061,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Activest Wealth Management increased its holdings in Duke Energy by 98.1% in the first 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. N.E.W. Advisory Services LLC bought a new stake in Duke Energy in the first quarter valued at about $27,000. Wayfinding Financial LLC bought a new stake in Duke Energy in the first quarter valued at about $27,000. Financial Network Wealth Advisors LLC increased its holdings in Duke Energy by 360.0% in the first 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 during the last quarter. Finally, American National Bank & Trust bought a new stake in Duke Energy in the first quarter valued at about $36,000. 65.31% of the stock is owned by institutional investors.

Insider Activity at Duke Energy

In related news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the 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 completion of the transaction, the executive vice president directly owned 46,422 shares of the company's stock, valued at approximately $5,768,397.72. This represents 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 firm's 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 completion of the sale, the senior vice president directly owned 19,608 shares of the company's stock, valued at approximately $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. Corporate insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

DUK has been the subject of a number of recent analyst reports. Scotiabank upped their price objective on Duke Energy from $120.00 to $128.00 and gave the company a "sector perform" rating in a report on Wednesday, August 6th. Barclays upped their price objective on Duke Energy from $122.00 to $131.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. BMO Capital Markets increased their price target on Duke Energy from $131.00 to $132.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. increased their price target on Duke Energy from $127.00 to $131.00 and gave the stock a "neutral" rating in a report on Thursday, August 21st. Finally, The Goldman Sachs Group set a $132.00 price target on Duke Energy in a report on Tuesday, July 1st. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $131.50.

Duke Energy Stock Up 0.7%

DUK stock opened at $123.71 on Wednesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.66 and a quick ratio of 0.42. The stock has a market capitalization of $96.20 billion, a P/E ratio of 20.12, a P/E/G ratio of 2.96 and a beta of 0.39. The business has a 50-day moving average of $122.41 and a 200-day moving average of $119.57. Duke Energy Corporation has a fifty-two week low of $105.20 and a fifty-two week high of $127.85.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly 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 analyst estimates of $7.07 billion. During the same period last year, the company posted $1.18 earnings per share. The business'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. On average, sell-side analysts anticipate that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 15th were given a dividend of $1.065 per share. This represents a $4.26 annualized dividend and a yield of 3.4%. 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 currently 69.27%.

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.

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