Kingswood Wealth Advisors LLC Reduces Holdings in Duke Energy Corporation $DUK

Key Points

• Kingswood Wealth Advisors LLC reduced its holdings in Duke Energy Corporation by 10.1%, owning 20,210 shares worth $2.39 million after selling 2,267 shares in the second quarter.
• Several hedge funds have adjusted their stakes in Duke Energy recently, with Activest Wealth Management increasing their holdings by 98.1% in the first quarter.
• Duke Energy has recently announced a quarterly dividend increase to $1.065 per share, a boost from the previous $1.05, representing an annual yield of 3.4%.

Kingswood Wealth Advisors LLC cut its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 10.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,210 shares of the utilities provider's stock after selling 2,267 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Duke Energy were worth $2,385,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in DUK. Activest Wealth Management raised 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 worth $26,000 after purchasing an additional 105 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Duke Energy in the first quarter valued at approximately $27,000. Wayfinding Financial LLC acquired a new position in shares of Duke Energy in the first quarter valued at $27,000. Mascoma Wealth Management LLC grew its stake in shares of Duke Energy by 53.7% in the 2nd quarter. Mascoma Wealth Management LLC now owns 249 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 87 shares during the period. Finally, Financial Network Wealth Advisors LLC grew 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 last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DUK. Scotiabank set a $137.00 price objective on shares of Duke Energy and gave the company a "sector outperform" rating in a report on Friday. Barclays increased their price objective on shares of Duke Energy from $122.00 to $131.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. upped their price objective on Duke Energy from $127.00 to $131.00 and gave the company a "neutral" rating in a research note on Thursday, August 21st. Evercore ISI set a $143.00 price target on Duke Energy and gave the company an "outperform" rating in a research note on Monday. Finally, The Goldman Sachs Group set a $132.00 price target on Duke Energy in a research note on Tuesday, July 1st. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $133.08.

Duke Energy Trading Up 0.7%

DUK opened at $124.38 on Tuesday. Duke Energy Corporation has a 12 month low of $105.20 and a 12 month high of $127.85. The company has a current ratio of 0.66, a quick ratio of 0.42 and a debt-to-equity ratio of 1.55. The stock has a 50-day moving average of $122.71 and a 200 day moving average of $119.65. The firm has a market cap of $96.72 billion, a P/E ratio of 20.22, a P/E/G ratio of 2.98 and a beta of 0.44.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $7.51 billion during the quarter, compared to the consensus estimate of $7.07 billion. Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The firm's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $1.18 EPS. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. As a group, research analysts forecast that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Increases Dividend

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

Insider Activity

In other Duke Energy news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $124.26, for a total value of $832,542.00. Following the transaction, the executive vice president directly owned 46,422 shares of the company's stock, valued at $5,768,397.72. This trade represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Bonnie B. Titone sold 2,000 shares of Duke Energy stock in a transaction on Wednesday, August 20th. The stock was 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 owned by corporate insiders.

Duke Energy Company 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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