Mariner Investment Group LLC Buys Shares of 50,000 Duke Energy Corporation $DUK

Key Points

• Mariner Investment Group LLC acquired 50,000 shares of Duke Energy, valued at approximately $5.9 million, making up about 2.1% of its investment portfolio.
• Duke Energy recently declared a quarterly dividend of $1.065 per share, reflecting an annualized yield of 3.5% and an increase from the previous dividend of $1.05.
• Equities research analysts have a consensus rating of "Moderate Buy" on Duke Energy, with a projected target price of $131.00 per share.

Mariner Investment Group LLC bought a new stake in Duke Energy Corporation (NYSE:DUK - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 50,000 shares of the utilities provider's stock, valued at approximately $5,900,000. Duke Energy makes up approximately 2.1% of Mariner Investment Group LLC's investment portfolio, making the stock its 7th largest position.

A number of other institutional investors also recently made changes to their positions in DUK. Activest Wealth Management raised 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 purchasing an additional 105 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Duke Energy in the 1st quarter valued at approximately $27,000. N.E.W. Advisory Services LLC bought a new stake in shares of Duke Energy in the 1st quarter valued at approximately $27,000. Financial Network Wealth Advisors LLC increased its holdings in shares of Duke Energy by 360.0% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 253 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 198 shares during the last quarter. Finally, American National Bank & Trust bought a new stake in shares of Duke Energy in the 1st quarter valued at approximately $36,000. 65.31% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 transaction of $832,542.00. Following the completion of the transaction, the executive vice president 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Bonnie B. Titone sold 2,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total value of $248,760.00. Following the transaction, the senior vice president directly owned 19,608 shares of the company's stock, valued at $2,438,843.04. This 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 company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DUK shares. Barclays boosted their price target on Duke Energy from $122.00 to $131.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. BMO Capital Markets increased their target price on Duke Energy from $131.00 to $132.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Raymond James Financial began coverage on Duke Energy in a research report on Friday, June 13th. They issued a "market perform" rating on the stock. UBS Group reaffirmed a "neutral" rating and issued a $127.00 target price (up from $124.00) on shares of Duke Energy in a research report on Friday, July 11th. Finally, Jefferies Financial Group lowered Duke Energy from a "buy" rating to a "hold" rating and dropped their target price for the stock from $141.00 to $134.00 in a research report on Friday. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.00.

Duke Energy Price Performance

Shares of DUK opened at $122.99 on Friday. The firm has a market capitalization of $95.64 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 2.95 and a beta of 0.39. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.42 and a current ratio of 0.66. Duke Energy Corporation has a one year low of $105.20 and a one year high of $127.85. The stock's fifty day moving average is $122.29 and its 200-day moving average is $119.50.

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 analysts' consensus estimates of $1.29 by ($0.04). The business had revenue of $7.51 billion for the quarter, compared to analyst estimates 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 for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the business posted $1.18 earnings per share. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. Equities analysts anticipate that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Increases Dividend

The firm also recently declared 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 represents a $4.26 dividend on an annualized basis and a dividend yield of 3.5%. This is a positive change from Duke Energy's previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, August 15th. Duke Energy's dividend payout ratio is 69.27%.

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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