New England Asset Management Inc. Buys 5,300 Shares of Duke Energy Corporation $DUK

Key Points

• New England Asset Management Inc. increased its stake in Duke Energy Corporation by 8.0%, acquiring an additional 5,300 shares, bringing its total holdings to 71,565 shares worth approximately $8.73 million.
• Duke Energy recently announced a quarterly dividend increase to $1.065 per share, representing an annual yield of 3.5%, with the ex-dividend date set for August 15th.
• Analysts have favorable outlooks for Duke Energy, with price targets raised by firms like Scotiabank and JPMorgan Chase, resulting in a consensus target price increase to $130.62.

New England Asset Management Inc. grew its stake in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 8.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 71,565 shares of the utilities provider's stock after purchasing an additional 5,300 shares during the period. Duke Energy comprises approximately 1.4% of New England Asset Management Inc.'s portfolio, making the stock its 14th biggest position. New England Asset Management Inc.'s holdings in Duke Energy were worth $8,729,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DUK. Toth Financial Advisory Corp grew its stake in shares of Duke Energy by 31.6% in the first quarter. Toth Financial Advisory Corp now owns 346 shares of the utilities provider's stock worth $42,000 after purchasing an additional 83 shares during the last quarter. Reyes Financial Architecture Inc. grew its stake in shares of Duke Energy by 4.8% in the first quarter. Reyes Financial Architecture Inc. now owns 1,827 shares of the utilities provider's stock worth $223,000 after purchasing an additional 83 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Duke Energy by 2.8% in the first quarter. Revolve Wealth Partners LLC now owns 3,034 shares of the utilities provider's stock worth $370,000 after purchasing an additional 84 shares during the last quarter. Lokken Investment Group LLC grew its stake in shares of Duke Energy by 3.3% in the first quarter. Lokken Investment Group LLC now owns 2,633 shares of the utilities provider's stock worth $321,000 after purchasing an additional 84 shares during the last quarter. Finally, Sheets Smith Wealth Management grew its stake in shares of Duke Energy by 0.3% in the first quarter. Sheets Smith Wealth Management now owns 27,517 shares of the utilities provider's stock worth $3,356,000 after purchasing an additional 85 shares during the last quarter. 65.31% of the stock is owned by institutional investors.

Duke Energy Price Performance

Shares of NYSE DUK opened at $120.91 on Friday. Duke Energy Corporation has a twelve month low of $105.20 and a twelve month high of $127.85. The firm has a market cap of $94.03 billion, a P/E ratio of 19.66, a PEG ratio of 2.93 and a beta of 0.39. The company has a 50 day moving average of $121.00 and a 200 day moving average of $118.85. The company has a quick ratio of 0.42, a current ratio of 0.66 and a debt-to-equity ratio of 1.55.

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 for the quarter, missing analysts' consensus estimates 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 return on equity of 9.85% and a net margin of 15.51%.Duke Energy's revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.18 earnings per share. 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 EPS for the current fiscal year.

Duke Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be paid a dividend of $1.065 per share. The ex-dividend date is Friday, August 15th. This represents a $4.26 dividend on an annualized basis and a yield of 3.5%. This is a boost from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's dividend payout ratio (DPR) is presently 69.27%.

Analysts Set New Price Targets

Several analysts have weighed in on DUK shares. Morgan Stanley reaffirmed an "outperform" rating on shares of Duke Energy in a research report on Thursday, August 21st. Scotiabank lifted their price objective on Duke Energy from $120.00 to $128.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price objective on Duke Energy from $127.00 to $131.00 and gave the company a "neutral" rating in a research report on Thursday, August 21st. Barclays lifted their price objective on Duke Energy from $122.00 to $131.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Finally, The Goldman Sachs Group set a $132.00 price objective on Duke Energy in a research report on Tuesday, July 1st. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $130.62.

Insiders Place Their Bets

In other Duke Energy news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were 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 directly owned 46,422 shares in the company, valued at approximately $5,768,397.72. The trade was a 12.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 of the company's stock, valued at approximately $2,438,843.04. This represents a 9.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

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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