Pettinga Financial Advisors LLC Has $596,000 Holdings in Duke Energy Corporation $DUK

Key Points

• Pettinga Financial Advisors LLC increased its holdings in Duke Energy Corporation by 118.0% during the second quarter, bringing its total investment to $596,000 from 5,050 shares.
• Duke Energy reported a Q2 EPS of $1.25, falling short of analysts' expectations, while revenue was $7.51 billion, exceeding forecasts.
• The company is set to pay a quarterly dividend of $1.065 per share on December 16th, with a current dividend yield of 3.3%.

Pettinga Financial Advisors LLC raised its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 118.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 5,050 shares of the utilities provider's stock after acquiring an additional 2,733 shares during the period. Pettinga Financial Advisors LLC's holdings in Duke Energy were worth $596,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. GQG Partners LLC lifted its holdings 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. Nuveen LLC bought a new stake in Duke Energy during the first quarter worth $702,351,000. Raymond James Financial Inc. lifted its holdings in Duke Energy by 88.1% during the first quarter. Raymond James Financial Inc. now owns 4,861,309 shares of the utilities provider's stock worth $592,934,000 after acquiring an additional 2,276,948 shares during the period. Vanguard Group Inc. lifted its holdings in Duke Energy by 2.3% during the first quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider's stock worth $9,094,327,000 after acquiring an additional 1,676,061 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in Duke Energy by 359.1% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,132,613 shares of the utilities provider's stock worth $138,145,000 after acquiring an additional 885,900 shares during the period. Institutional investors and hedge funds own 65.31% of the company's stock.

Duke Energy Price Performance

NYSE DUK opened at $128.73 on Thursday. Duke Energy Corporation has a 1-year low of $105.20 and a 1-year high of $128.99. The business's fifty day moving average price is $123.24 and its 200-day moving average price is $120.04. The stock has a market capitalization of $100.10 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 3.08 and a beta of 0.44. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.66 and a quick ratio of 0.42.

Duke Energy (NYSE:DUK - Get Free Report) last announced its 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). Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The company had revenue of $7.51 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the prior year, the business posted $1.18 earnings per share. 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. On average, equities analysts predict that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be given a dividend of $1.065 per share. The ex-dividend date is Friday, November 14th. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.3%. Duke Energy's dividend payout ratio (DPR) is presently 69.27%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on DUK shares. Weiss Ratings reiterated a "buy (b-)" rating on shares of Duke Energy in a research report on Wednesday, October 8th. UBS Group lifted their price target on Duke Energy from $131.00 to $137.00 and gave the stock a "neutral" rating in a research note on Friday, October 10th. Cowen began coverage on Duke Energy in a research note on Wednesday. They issued a "buy" rating for the company. Morgan Stanley lowered their target price on Duke Energy from $129.00 to $127.00 and set an "equal weight" rating for the company in a research note on Thursday, September 25th. Finally, The Goldman Sachs Group set a $132.00 price target on Duke Energy in a research report on Tuesday, July 1st. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $135.50.

Insider Transactions at Duke Energy

In related news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of Duke Energy stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $124.26, for a total value of $832,542.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $248,760.00. Following the transaction, the senior vice president owned 19,608 shares of the company's stock, valued at $2,438,843.04. This trade represents a 9.26% decrease in their position. The disclosure for this sale can be found here. Company 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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