Penobscot Investment Management Company Inc. Acquires 9,074 Shares of Duke Energy Corporation $DUK

Key Points

• Penobscot Investment Management Company Inc. increased its stake in Duke Energy Corporation by 430.9%, acquiring an additional 9,074 shares, bringing their total holdings to 11,180 shares valued at approximately $1.32 million.
• Several analysts updated their assessments of Duke Energy, with a consensus rating of "Moderate Buy" and a target price averaging around $132.25.
• Duke Energy recently increased its quarterly dividend to $1.065 per share, representing an annual yield of 3.4% and a payout ratio of 69.27%.

Penobscot Investment Management Company Inc. boosted its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 430.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,180 shares of the utilities provider's stock after purchasing an additional 9,074 shares during the period. Penobscot Investment Management Company Inc.'s holdings in Duke Energy were worth $1,319,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Activest Wealth Management raised its position in shares of Duke Energy by 98.1% in the first quarter. Activest Wealth Management now owns 212 shares of the utilities provider's stock worth $26,000 after buying an additional 105 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Duke Energy during the first quarter valued at approximately $27,000. Wayfinding Financial LLC bought a new stake in shares of Duke Energy during the first quarter valued at approximately $27,000. Financial Network Wealth Advisors LLC grew its position in Duke Energy by 360.0% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 253 shares of the utilities provider's stock worth $31,000 after purchasing an additional 198 shares during the period. Finally, Saudi Central Bank bought a new stake in shares of Duke Energy during the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 65.31% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DUK. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Duke Energy in a report on Saturday, September 27th. Morgan Stanley decreased their target price on shares of Duke Energy from $129.00 to $127.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 25th. The Goldman Sachs Group set a $132.00 target price on shares of Duke Energy in a research report on Tuesday, July 1st. UBS Group restated a "neutral" rating and set a $127.00 target price (up from $124.00) on shares of Duke Energy in a research report on Friday, July 11th. Finally, Raymond James Financial initiated coverage on shares of Duke Energy in a research report on Friday, June 13th. They set a "market perform" rating on the stock. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $132.25.

Duke Energy Trading Up 1.7%

Shares of Duke Energy stock opened at $123.58 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.66 and a quick ratio of 0.42. The firm has a fifty day moving average price of $122.58 and a 200 day moving average price of $119.61. Duke Energy Corporation has a 1 year low of $105.20 and a 1 year high of $127.85. The stock has a market cap of $96.10 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 2.93 and a beta of 0.44.

Duke Energy (NYSE:DUK - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $1.25 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.04). The firm 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%. The firm's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.18 EPS. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. Equities research analysts predict that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders 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. The ex-dividend date was Friday, August 15th. This represents a $4.26 annualized dividend and a yield of 3.4%. Duke Energy's dividend payout ratio (DPR) is presently 69.27%.

Insider Activity at Duke Energy

In other Duke Energy news, SVP Bonnie B. Titone sold 2,000 shares of the business'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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the company'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 transaction, the executive vice president owned 46,422 shares of the company's stock, valued at approximately $5,768,397.72. The trade was a 12.61% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.

Duke Energy Company 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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