Duke Energy Corporation $DUK Shares Sold by Parsons Capital Management Inc. RI

Key Points

• Parsons Capital Management Inc. RI reduced its holdings in Duke Energy by 84.7%, now owning 8,428 shares, following the sale of 46,666 shares in Q2 2023.
• Analysts are optimistic, with Goldman Sachs setting a target price of $132.00 and the overall consensus rating being a "Moderate Buy", indicating strong interest in the stock.
• Duke Energy recently increased its quarterly dividend to $1.065 per share, reflecting a 3.5% dividend yield and a payout ratio of 69.27%.

Parsons Capital Management Inc. RI reduced its holdings in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 84.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,428 shares of the utilities provider's stock after selling 46,666 shares during the quarter. Parsons Capital Management Inc. RI's holdings in Duke Energy were worth $995,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Activest Wealth Management increased its holdings 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 valued at $26,000 after acquiring an additional 105 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Duke Energy in the 1st quarter valued at about $27,000. Wayfinding Financial LLC purchased a new position in shares of Duke Energy in the 1st quarter valued at about $27,000. Financial Network Wealth Advisors LLC increased its holdings in shares of Duke Energy by 360.0% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 253 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 198 shares during the last quarter. Finally, Saudi Central Bank purchased a new position in shares of Duke Energy in the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 65.31% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DUK. The Goldman Sachs Group set a $132.00 target price on Duke Energy in a research report on Tuesday, July 1st. UBS Group reissued a "neutral" rating and issued a $127.00 target price (up from $124.00) on shares of Duke Energy in a research report on Friday, July 11th. BMO Capital Markets upped their target price on Duke Energy from $131.00 to $132.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Jefferies Financial Group cut Duke Energy from a "buy" rating to a "hold" rating and decreased their target price for the company from $141.00 to $134.00 in a research report on Friday, September 26th. Finally, Raymond James Financial began coverage on Duke Energy in a research report on Friday, June 13th. They issued a "market perform" rating for the company. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Duke Energy currently has an average rating of "Moderate Buy" and a consensus price target of $131.50.

Insider Activity at Duke Energy

In other 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Bonnie B. Titone sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $124.38, for a total value of $248,760.00. Following the transaction, the senior vice president directly owned 19,608 shares of the company's stock, valued at approximately $2,438,843.04. This trade represents a 9.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Duke Energy Price Performance

Duke Energy stock opened at $121.57 on Friday. Duke Energy Corporation has a 12 month low of $105.20 and a 12 month high of $127.85. 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 business has a 50 day simple moving average of $122.50 and a 200-day simple moving average of $119.59. The stock has a market capitalization of $94.53 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 2.95 and a beta of 0.44.

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

Duke Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th were paid a dividend of $1.065 per share. This represents a $4.26 annualized dividend 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 was Friday, August 15th. Duke Energy's dividend payout ratio (DPR) is currently 69.27%.

Duke Energy 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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