Lafayette Investments Inc. Invests $461,000 in Duke Energy Corporation $DUK

Key Points

• Lafayette Investments Inc. has invested $461,000 in Duke Energy Corporation by acquiring 3,904 shares in the second quarter.
• Duke Energy reported a net revenue of $7.51 billion for the most recent quarter, exceeding analysts' expectations of $7.07 billion, although its earnings per share missed estimates by $0.04.
• The company has announced a quarterly dividend of $1.065 per share, representing a 3.3% yield, with the ex-dividend date set for November 14th.

Lafayette Investments Inc. bought a new position in Duke Energy Corporation (NYSE:DUK - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,904 shares of the utilities provider's stock, valued at approximately $461,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Duke Energy by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider's stock valued at $9,094,327,000 after purchasing an additional 1,676,061 shares in the last quarter. GQG Partners LLC lifted its stake in Duke Energy by 17,880.0% in the first quarter. GQG Partners LLC now owns 10,249,508 shares of the utilities provider's stock worth $1,250,133,000 after purchasing an additional 10,192,503 shares during the last quarter. Royal Bank of Canada boosted its position in Duke Energy by 4.9% during the first quarter. Royal Bank of Canada now owns 8,921,517 shares of the utilities provider's stock valued at $1,088,158,000 after buying an additional 418,014 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Duke Energy by 1.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,656,244 shares of the utilities provider's stock valued at $1,055,087,000 after buying an additional 93,699 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Duke Energy by 1.9% during the first quarter. Northern Trust Corp now owns 8,153,615 shares of the utilities provider's stock valued at $994,496,000 after buying an additional 152,542 shares during the last quarter. 65.31% of the stock is currently owned by institutional investors.

Duke Energy Stock Up 0.4%

Shares of NYSE DUK opened at $129.00 on Tuesday. The firm has a fifty day simple moving average of $123.41 and a two-hundred day simple moving average of $120.17. Duke Energy Corporation has a 12 month low of $105.20 and a 12 month high of $129.51. 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 firm has a market capitalization of $100.31 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 3.16 and a beta of 0.44.

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 (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $7.07 billion. During the same quarter in the prior year, the firm earned $1.18 EPS. Duke Energy's quarterly revenue 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 expect that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be paid a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, November 14th. Duke Energy's dividend payout ratio (DPR) is presently 69.27%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their target price on Duke Energy from $131.00 to $137.00 and gave the company a "neutral" rating in a research note on Friday, October 10th. Jefferies Financial Group boosted their price objective on Duke Energy from $134.00 to $138.00 and gave the company a "hold" rating in a research report on Wednesday, October 15th. The Goldman Sachs Group set a $132.00 target price on shares of Duke Energy in a report on Tuesday, July 1st. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Duke Energy in a research note on Wednesday, October 8th. Finally, Evercore ISI started coverage on shares of Duke Energy in a research report on Monday, October 6th. They set an "outperform" rating and a $143.00 price target for the company. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Duke Energy currently has an average rating of "Moderate Buy" and a consensus target price of $136.77.

Insider Buying and Selling at Duke Energy

In other news, SVP Bonnie B. Titone sold 2,000 shares of the business's stock in a transaction 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 sale, the senior vice president owned 19,608 shares in the company, valued at approximately $2,438,843.04. The trade was a 9.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the company's stock in a transaction dated 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 owned 46,422 shares in the company, 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. Company insiders own 0.14% of the company's stock.

About Duke Energy

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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