Maridea Wealth Management LLC Invests $1.05 Million in Duke Energy Corporation $DUK

Key Points

• Maridea Wealth Management LLC has invested approximately $1.05 million in Duke Energy by purchasing 8,863 shares of its stock.
• Duke Energy reported earnings per share of $1.25 for the most recent quarter, falling short of the consensus estimate of $1.29, while its revenue increased by 4.7% year-over-year.
• The company has announced an increase in its quarterly dividend to $1.065 per share, reflecting a boost from its previous dividend amount, and representing an annualized yield of 3.4%.

Maridea Wealth Management LLC purchased a new position in shares of Duke Energy Corporation (NYSE:DUK - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,863 shares of the utilities provider's stock, valued at approximately $1,046,000.

Other hedge funds also recently made changes to their positions in the company. Activest Wealth Management grew its position 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 valued at $26,000 after acquiring an additional 105 shares during the period. Wayfinding Financial LLC acquired a new stake in Duke Energy in the 1st quarter valued at about $27,000. N.E.W. Advisory Services LLC acquired a new stake in Duke Energy in the 1st quarter valued at about $27,000. Mattson Financial Services LLC acquired a new position in Duke Energy during the fourth quarter worth approximately $28,000. Finally, Financial Network Wealth Advisors LLC raised its stake in Duke Energy by 360.0% in the first quarter. Financial Network Wealth Advisors LLC now owns 253 shares of the utilities provider's stock valued at $31,000 after buying an additional 198 shares during the period. 65.31% of the stock is owned by institutional investors.

Duke Energy Price Performance

NYSE:DUK opened at $123.70 on Thursday. Duke Energy Corporation has a 52 week low of $105.20 and a 52 week high of $127.85. 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 firm's 50-day simple moving average is $122.10 and its 200 day simple moving average is $119.43. The firm has a market cap of $96.19 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 2.97 and a beta of 0.39.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings data 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). Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The business had revenue of $7.51 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same quarter last year, the firm earned $1.18 EPS. Duke Energy's revenue for the quarter 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. As a group, sell-side analysts predict that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders 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 dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, August 15th. Duke Energy's payout ratio is 69.27%.

Insiders Place Their Bets

In related news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the firm's stock in a transaction on 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 owned 46,422 shares in the company, valued at approximately $5,768,397.72. This trade 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 firm's 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 completion of the transaction, 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 company insiders.

Analyst Upgrades and Downgrades

DUK has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $132.00 target price on Duke Energy in a report on Tuesday, July 1st. JPMorgan Chase & Co. increased their price target on Duke Energy from $127.00 to $131.00 and gave the company a "neutral" rating in a research note on Thursday, August 21st. Scotiabank increased their price target on Duke Energy from $120.00 to $128.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 6th. Morgan Stanley restated an "outperform" rating on shares of Duke Energy in a research note on Thursday, August 21st. Finally, Raymond James Financial assumed coverage on 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 company. According to MarketBeat, Duke Energy currently has a consensus rating of "Moderate Buy" and a consensus target price 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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