Kingstone Capital Partners Texas LLC Takes Position in Duke Energy Corporation $DUK

Key Points

• Kingstone Capital Partners Texas LLC has acquired a new stake in Duke Energy, purchasing 51,610 shares valued at approximately $6.09 million during the second quarter.
• Duke Energy recently reported Q2 earnings of $1.25 EPS, missing expectations by $0.04, but its revenue increased by 4.7% year-over-year, totaling $7.51 billion.
• The company has declared a quarterly dividend of $1.065, up from the previous amount of $1.05, representing an annualized dividend yield of 3.5%.

Kingstone Capital Partners Texas LLC bought a new stake in Duke Energy Corporation (NYSE:DUK - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 51,610 shares of the utilities provider's stock, valued at approximately $6,090,000.

A number of other institutional investors have also modified their holdings of DUK. Activest Wealth Management raised its stake 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 acquiring an additional 105 shares during the period. Vermillion Wealth Management Inc. acquired a new stake in Duke Energy during the fourth quarter worth about $27,000. Wayfinding Financial LLC acquired a new stake in Duke Energy during the first quarter worth about $27,000. N.E.W. Advisory Services LLC acquired a new stake in Duke Energy during the first quarter worth about $27,000. Finally, Mattson Financial Services LLC acquired a new stake in Duke Energy during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 65.31% of the company's stock.

Insider Activity at Duke Energy

In related news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the company's stock in a transaction that occurred 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bonnie B. Titone sold 2,000 shares of the company'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 completion of the sale, the senior vice president 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 position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Duke Energy Stock Up 0.6%

Shares of NYSE:DUK opened at $121.08 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.42 and a current ratio of 0.66. The company has a market cap of $94.15 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 2.92 and a beta of 0.39. Duke Energy Corporation has a 52 week low of $105.20 and a 52 week high of $127.85. The firm has a 50 day simple moving average of $121.79 and a 200 day simple moving average of $119.31.

Duke Energy (NYSE:DUK - Get Free Report) last issued 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). The firm had revenue of $7.51 billion during the quarter, compared to analysts' expectations of $7.07 billion. Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. The firm's revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.18 EPS. 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 earnings per share for the current year.

Duke Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors 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 was Friday, August 15th. This represents a $4.26 annualized dividend and a dividend yield of 3.5%. Duke Energy's payout ratio is currently 69.27%.

Analyst Upgrades and Downgrades

DUK has been the topic of several research reports. The Goldman Sachs Group set a $132.00 price objective on shares of Duke Energy in a research note on Tuesday, July 1st. BMO Capital Markets raised their price target on shares of Duke Energy from $131.00 to $132.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Barclays raised their price target on shares of Duke Energy from $122.00 to $131.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Scotiabank raised their price target on shares of Duke Energy from $120.00 to $128.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 6th. Finally, Raymond James Financial assumed coverage on shares of Duke Energy in a research note on Friday, June 13th. They issued a "market perform" rating on the stock. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $130.62.

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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