NewEdge Advisors LLC Purchases 8,711 Shares of Duke Energy Corporation $DUK

Key Points

• NewEdge Advisors LLC increased its holdings in Duke Energy Corporation by 5.7%, owning 160,351 shares worth approximately $19.6 million.
• Duke Energy declared a quarterly dividend of $1.065 per share, which is an increase from the previous dividend of $1.05, representing an annual yield of 3.5%.
• Recent analyst ratings show a consensus of nine "Buy" ratings and five "Hold" ratings for Duke Energy, with an average target price of $130.62.

NewEdge Advisors LLC raised its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 5.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 160,351 shares of the utilities provider's stock after acquiring an additional 8,711 shares during the quarter. NewEdge Advisors LLC's holdings in Duke Energy were worth $19,558,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DUK. Vanguard Group Inc. lifted its stake in shares of Duke Energy by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider's stock worth $9,094,327,000 after buying an additional 1,676,061 shares during the last quarter. GQG Partners LLC increased its position in Duke Energy by 17,880.0% during the first quarter. GQG Partners LLC now owns 10,249,508 shares of the utilities provider's stock worth $1,250,133,000 after acquiring an additional 10,192,503 shares during the period. Royal Bank of Canada increased 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 worth $1,088,158,000 after acquiring an additional 418,014 shares during the period. Charles Schwab Investment Management Inc. increased its position in 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 worth $1,055,087,000 after acquiring an additional 93,699 shares during the period. Finally, Northern Trust Corp increased its position in Duke Energy by 1.9% during the first quarter. Northern Trust Corp now owns 8,153,615 shares of the utilities provider's stock worth $994,496,000 after acquiring an additional 152,542 shares during the period. Institutional investors and hedge funds own 65.31% of the company's stock.

Insider Buying and Selling

In related news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $124.26, for a total value of $832,542.00. Following the sale, 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 sale was disclosed in a document filed 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 that occurred 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 completion of the sale, the senior vice president directly owned 19,608 shares in the company, valued at $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. Company insiders own 0.14% of the company's stock.

Duke Energy Price Performance

Shares of Duke Energy stock traded up $0.94 on Wednesday, reaching $121.32. The stock had a trading volume of 2,065,411 shares, compared to its average volume of 3,504,153. Duke Energy Corporation has a 1 year low of $105.20 and a 1 year high of $127.85. The company has a market cap of $94.34 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 2.90 and a beta of 0.39. 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 business's 50 day moving average is $121.15 and its two-hundred day moving average is $119.05.

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 analysts' consensus estimates of $1.29 by ($0.04). Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The firm had revenue of $7.51 billion during the quarter, compared to analysts' expectations of $7.07 billion. During the same period in the previous year, the company posted $1.18 earnings per share. The company'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. As a group, research analysts anticipate that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Increases Dividend

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

Analyst Upgrades and Downgrades

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

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.