GC Wealth Management RIA LLC Purchases Shares of 4,824 Duke Energy Corporation $DUK

Key Points

• GC Wealth Management RIA LLC purchased 4,824 shares of Duke Energy valued at approximately $569,000 in the second quarter.
• Duke Energy reported a quarterly EPS of $1.25, missing the consensus estimate, but achieved revenue of $7.51 billion, exceeding expectations.
• The company recently increased its quarterly dividend to $1.065, representing an annualized yield of 3.4%.

GC Wealth Management RIA LLC bought a new position in shares of Duke Energy Corporation (NYSE:DUK - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,824 shares of the utilities provider's stock, valued at approximately $569,000.

Other institutional investors also recently modified their holdings of the company. Activest Wealth Management boosted its holdings in shares of 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 during the period. N.E.W. Advisory Services LLC purchased a new stake in shares of Duke Energy during the first quarter worth about $27,000. Wayfinding Financial LLC purchased a new stake in shares of Duke Energy during the first quarter worth about $27,000. Financial Network Wealth Advisors LLC boosted its holdings in shares of Duke Energy by 360.0% during the first quarter. Financial Network Wealth Advisors LLC now owns 253 shares of the utilities provider's stock worth $31,000 after purchasing an additional 198 shares during the period. Finally, American National Bank & Trust purchased a new stake in shares of Duke Energy during the first quarter worth about $36,000. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Price Performance

Shares of DUK opened at $123.71 on Wednesday. The company has a market capitalization of $96.20 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 2.96 and a beta of 0.39. The company has a quick ratio of 0.42, a current ratio of 0.66 and a debt-to-equity ratio of 1.55. The firm has a 50 day moving average of $122.41 and a 200 day moving average of $119.57. Duke Energy Corporation has a twelve month low of $105.20 and a twelve month high of $127.85.

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 the consensus estimate of $1.29 by ($0.04). The firm had revenue of $7.51 billion for the quarter, compared to the consensus estimate of $7.07 billion. Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. Duke Energy's revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $1.18 EPS. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. As a group, equities research analysts anticipate that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th were given a $1.065 dividend. This is a boost from Duke Energy's previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, August 15th. This represents a $4.26 dividend on an annualized basis and a yield of 3.4%. Duke Energy's payout ratio is presently 69.27%.

Insider Buying and Selling

In other Duke Energy news, SVP Bonnie B. Titone sold 2,000 shares of Duke Energy stock in a transaction that occurred 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 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 SEC, which is accessible through this hyperlink. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of Duke Energy 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 sale, the executive vice president directly owned 46,422 shares of the company's stock, valued at approximately $5,768,397.72. This trade represents a 12.61% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on DUK shares. Raymond James Financial assumed coverage on shares of Duke Energy in a research note on Friday, June 13th. They issued a "market perform" rating for the company. Scotiabank raised their price objective on shares of Duke Energy from $120.00 to $128.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 6th. Barclays raised their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of Duke Energy from $127.00 to $131.00 and gave the stock a "neutral" rating in a report on Thursday, August 21st. Finally, BMO Capital Markets raised their price objective on shares of Duke Energy from $131.00 to $132.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Duke Energy presently has an average rating of "Moderate Buy" and an average price target of $131.50.

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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