Duke Energy Corporation $DUK Shares Acquired by Cadinha & Co. LLC

Key Points

• Cadinha & Co. LLC significantly increased its holdings in Duke Energy Corporation by 3,411.1%, acquiring 131,772 additional shares in the second quarter, bringing their total to 135,635 shares valued at $16.01 million.
• Numerous hedge funds have also adjusted their stakes in Duke Energy, with Pinnacle Financial Partners increasing their holdings by 9.9% and Charles Schwab Investment Management adding 1.1% to their position.
• Wall Street analysts maintain a generally positive outlook on Duke Energy, with one "Strong Buy" rating and a consensus price target of $138.36, highlighting the company's expected growth in earnings.

Cadinha & Co. LLC lifted its holdings in Duke Energy Corporation (NYSE:DUK - Free Report) by 3,411.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 135,635 shares of the utilities provider's stock after acquiring an additional 131,772 shares during the quarter. Duke Energy accounts for 2.7% of Cadinha & Co. LLC's holdings, making the stock its 18th biggest position. Cadinha & Co. LLC's holdings in Duke Energy were worth $16,005,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Pinnacle Financial Partners Inc grew its holdings in Duke Energy by 9.9% during the first quarter. Pinnacle Financial Partners Inc now owns 127,419 shares of the utilities provider's stock worth $14,451,000 after acquiring an additional 11,445 shares during the period. Beacon Investment Advisory Services Inc. increased its holdings in shares of Duke Energy by 8.1% during the 1st quarter. Beacon Investment Advisory Services Inc. now owns 51,354 shares of the utilities provider's stock valued at $6,264,000 after purchasing an additional 3,837 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Duke Energy by 1.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,656,244 shares of the utilities provider's stock worth $1,055,087,000 after buying an additional 93,699 shares in the last quarter. Resolution Capital Ltd increased its holdings in Duke Energy by 7.6% in the first quarter. Resolution Capital Ltd now owns 59,995 shares of the utilities provider's stock valued at $7,318,000 after buying an additional 4,255 shares in the last quarter. Finally, D.A. Davidson & CO. increased its holdings in Duke Energy by 2.2% in the first quarter. D.A. Davidson & CO. now owns 234,464 shares of the utilities provider's stock valued at $28,598,000 after buying an additional 4,948 shares in the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DUK. BTIG Research upgraded Duke Energy to a "strong-buy" rating in a research note on Wednesday. Evercore ISI began coverage on Duke Energy in a research report on Monday, October 6th. They set an "outperform" rating and a $143.00 target price on the stock. Barclays boosted their price target on shares of Duke Energy from $131.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday, October 14th. UBS Group lifted their target price on shares of Duke Energy from $131.00 to $137.00 and gave the company a "neutral" rating in a research report on Friday, October 10th. Finally, Cowen initiated coverage on shares of Duke Energy in a research report on Wednesday, October 15th. They set a "buy" rating for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Duke Energy currently has an average rating of "Moderate Buy" and a consensus target price of $138.36.

Insider Activity

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 value of $832,542.00. Following the completion of the transaction, the executive vice president directly owned 46,422 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Also, SVP Bonnie B. Titone sold 2,000 shares of Duke Energy 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 sale, the senior vice president owned 19,608 shares in the company, valued at $2,438,843.04. This represents a 9.26% decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Duke Energy Stock Performance

NYSE:DUK opened at $129.67 on Thursday. Duke Energy Corporation has a twelve month low of $105.20 and a twelve month high of $130.03. The company has a market cap of $100.83 billion, a P/E ratio of 21.10, a P/E/G ratio of 3.15 and a beta of 0.44. 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 company's 50-day moving average price is $123.55 and its 200-day moving average price is $120.29.

Duke Energy (NYSE:DUK - Get Free Report) last released its earnings results on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share for the quarter, missing analysts' consensus estimates of $1.29 by ($0.04). Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The business had revenue of $7.51 billion during the quarter, compared to analysts' expectations of $7.07 billion. During the same period last year, the business earned $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. 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 14th will be issued a $1.065 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.3%. Duke Energy's dividend 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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