Summit Financial LLC Has $1.47 Million Stake in Duke Energy Corporation $DUK

Key Points

• Summit Financial LLC has reduced its stake in Duke Energy by 24.9%, holding 12,068 shares valued at approximately $1.47 million after selling 4,004 shares in the first quarter.
• Duke Energy recently increased its quarterly dividend to $1.065, reflecting a 3.4% dividend yield and indicating a robust financial outlook despite a slight earnings miss in its latest report.
• Institutional investors now own 65.31% of Duke Energy's stock, with significant increases in holdings from firms like Vanguard Group and GQG Partners, indicating strong institutional confidence in the company's future.

Summit Financial LLC cut its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 24.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,068 shares of the utilities provider's stock after selling 4,004 shares during the period. Summit Financial LLC's holdings in Duke Energy were worth $1,472,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. N.E.W. Advisory Services LLC bought a new stake in Duke Energy in the first quarter worth about $27,000. Wayfinding Financial LLC acquired a new stake in Duke Energy during the 1st quarter worth about $27,000. Mattson Financial Services LLC acquired a new stake in Duke Energy during the 4th quarter worth about $28,000. Vermillion Wealth Management Inc. acquired a new stake in Duke Energy during the 4th quarter worth about $27,000. Finally, Financial Network Wealth Advisors LLC boosted its position in Duke Energy by 360.0% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 253 shares of the utilities provider's stock worth $31,000 after acquiring an additional 198 shares during the period. Institutional investors own 65.31% of the company's stock.

Insider Buying and Selling at Duke Energy

In other news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the stock in a transaction 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 sale, the executive vice president 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $248,760.00. Following the sale, the senior vice president owned 19,608 shares in the company, valued at $2,438,843.04. The trade was 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 corporate insiders.

Duke Energy Stock Performance

Shares of NYSE DUK traded up $0.38 during trading hours on Wednesday, reaching $123.66. The stock had a trading volume of 2,155,844 shares, compared to its average volume of 3,556,552. The business's fifty day moving average is $120.11 and its two-hundred day moving average is $118.50. Duke Energy Corporation has a twelve month low of $105.20 and a twelve month high of $127.85. The company has a market cap of $96.16 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 2.97 and a beta of 0.36. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.66 and a quick ratio of 0.42.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly 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 net margin of 15.51% and a return on equity of 9.85%. The company 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 company earned $1.18 earnings per share. The business's 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. As a group, research analysts expect that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Increases Dividend

The firm 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 dividend of $1.065 per share. The ex-dividend date is Friday, August 15th. This is a boost from Duke Energy's previous quarterly dividend of $1.05. This represents a $4.26 annualized dividend and a dividend yield of 3.4%. Duke Energy's dividend payout ratio (DPR) is currently 69.27%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DUK shares. BMO Capital Markets lifted their price target on Duke Energy from $131.00 to $132.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price target on Duke Energy from $127.00 to $131.00 and gave the company a "neutral" rating in a report on Thursday, August 21st. Citigroup lifted their price target on Duke Energy from $130.00 to $142.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Raymond James Financial started coverage on Duke Energy in a report on Friday, June 13th. They set a "market perform" rating for the company. Finally, The Goldman Sachs Group set a $132.00 price target on Duke Energy in a report on Tuesday, July 1st. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Duke Energy currently has a consensus rating of "Moderate Buy" and an average price target of $130.07.

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.