Panagora Asset Management Inc. Increases Stock Holdings in Duke Energy Corporation $DUK

Key Points

• Panagora Asset Management Inc. significantly increased its holdings in Duke Energy by 520% in the first quarter, owning 176,208 shares valued at approximately $21.49 million after purchasing an additional 147,789 shares.
• Duke Energy recently declared a quarterly dividend of $1.065, up from the previous $1.05, with a dividend yield of 3.5%.
• The company reported a missed earnings estimate with $1.25 earnings per share for the latest quarter, falling short of the $1.29 consensus, although its revenue increased by 4.7% year-over-year.

Panagora Asset Management Inc. grew its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 520.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 176,208 shares of the utilities provider's stock after buying an additional 147,789 shares during the quarter. Panagora Asset Management Inc.'s holdings in Duke Energy were worth $21,492,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of DUK. Activest Wealth Management boosted its position in Duke Energy by 98.1% during the first 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. Vermillion Wealth Management Inc. acquired a new stake in Duke Energy during the 4th quarter valued at approximately $27,000. Wayfinding Financial LLC acquired a new stake in Duke Energy during the 1st quarter valued at approximately $27,000. N.E.W. Advisory Services LLC bought a new position in Duke Energy during the 1st quarter worth approximately $27,000. Finally, Mattson Financial Services LLC bought a new stake in shares of Duke Energy in the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 65.31% of the company's stock.

Duke Energy Trading Down 0.3%

Shares of DUK stock traded down $0.33 during mid-day trading on Wednesday, reaching $121.56. The stock had a trading volume of 2,151,704 shares, compared to its average volume of 3,535,034. The stock's 50-day moving average price is $120.80 and its two-hundred day moving average price is $118.77. The firm has a market capitalization of $94.53 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 2.96 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. Duke Energy Corporation has a 52-week low of $105.20 and a 52-week 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 (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 quarter in the prior year, the company posted $1.18 EPS. The company's quarterly revenue was up 4.7% on a year-over-year basis. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. Equities analysts expect 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. Stockholders of record on Friday, August 15th will be issued a $1.065 dividend. This is a boost from Duke Energy's previous quarterly dividend of $1.05. The ex-dividend date is Friday, August 15th. This represents a $4.26 annualized dividend and a dividend yield of 3.5%. Duke Energy's dividend payout ratio (DPR) is 69.27%.

Analyst Ratings Changes

A number of brokerages recently issued reports on DUK. Citigroup lifted their target price on Duke Energy from $130.00 to $142.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. BMO Capital Markets upped their price objective on Duke Energy from $131.00 to $132.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. The Goldman Sachs Group set a $132.00 price objective on Duke Energy in a research note on Tuesday, July 1st. UBS Group reiterated a "neutral" rating and set a $127.00 price target (up previously from $124.00) on shares of Duke Energy in a report on Friday, July 11th. Finally, Barclays upped their price target on shares of Duke Energy from $122.00 to $131.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $130.62.

Insider Activity

In other Duke Energy news, SVP Bonnie B. Titone sold 2,000 shares of the business'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 transaction of $248,760.00. Following the sale, the senior vice president 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $832,542.00. Following the completion of the transaction, the executive vice president 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 disclosure for this sale can be found here. Company insiders own 0.14% of the company's stock.

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.