Duke Energy Corporation $DUK Shares Bought by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its holdings in Duke Energy Corporation by 12.7% during the second quarter, owning 99,587 shares valued at approximately $11.75 million.
• Analysts maintain a positive outlook for Duke Energy, with a consensus rating of "Moderate Buy" and an average price target of $138.36, reflecting recent upward adjustments from several firms.
• Duke Energy recently announced a quarterly dividend of $1.065 per share, yielding 3.3%, set to be paid on December 16th to shareholders of record on November 14th.

First Citizens Bank & Trust Co. raised its holdings in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 12.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,587 shares of the utilities provider's stock after purchasing an additional 11,205 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Duke Energy were worth $11,751,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pinnacle Financial Partners Inc grew its holdings in Duke Energy by 9.9% during the 1st 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 in the last quarter. Beacon Investment Advisory Services Inc. raised its position 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 acquiring an additional 3,837 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Duke Energy by 1.1% in the 1st 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 during the last quarter. Resolution Capital Ltd raised its stake in Duke Energy by 7.6% during the first quarter. Resolution Capital Ltd now owns 59,995 shares of the utilities provider's stock worth $7,318,000 after acquiring an additional 4,255 shares during the period. Finally, D.A. Davidson & CO. lifted 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 worth $28,598,000 after acquiring an additional 4,948 shares during the last quarter. Institutional investors own 65.31% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on DUK shares. Weiss Ratings restated a "buy (b-)" rating on shares of Duke Energy in a research report on Wednesday, October 8th. Cowen began coverage on shares of Duke Energy in a research report on Wednesday, October 15th. They issued a "buy" rating for the company. BMO Capital Markets lifted their price target on Duke Energy from $132.00 to $135.00 and gave the company an "outperform" rating in a research report on Friday, October 10th. TD Cowen began coverage on shares of Duke Energy in a report on Thursday, October 16th. They issued a "buy" rating and a $143.00 price target for the company. Finally, Jefferies Financial Group lifted their price objective on Duke Energy from $134.00 to $138.00 and gave the company a "hold" rating in a research report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Duke Energy presently has a consensus rating of "Moderate Buy" and an average price target of $138.36.

Insider Buying and Selling at Duke Energy

In other news, SVP Bonnie B. Titone sold 2,000 shares of the stock in a transaction 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 sale, the senior vice president directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of Duke Energy 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Duke Energy Price Performance

Shares of NYSE:DUK opened at $129.76 on Thursday. The firm has a market capitalization of $100.90 billion, a PE ratio of 21.10, a PEG ratio of 3.15 and a beta of 0.44. The business's 50 day moving average is $123.55 and its 200-day moving average is $120.29. Duke Energy Corporation has a 1-year low of $105.20 and a 1-year high of $130.03. The company has a current ratio of 0.66, a quick ratio of 0.42 and a debt-to-equity ratio of 1.55.

Duke Energy (NYSE:DUK - Get Free Report) last released its quarterly 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 net margin of 15.51% and a return on equity of 9.85%. The firm had revenue of $7.51 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter last year, the firm earned $1.18 earnings per share. The business'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. Sell-side analysts predict that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Dividend Announcement

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