Philadelphia Trust Co. Has $5.72 Million Stake in Duke Energy Corporation $DUK

Key Points

• Philadelphia Trust Co. reduced its stake in Duke Energy by 29.2%, bringing its holdings down to 46,884 shares valued at $5.72 million.
• Several institutional investors, including Vanguard Group and GQG Partners, have increased their stakes in Duke Energy during the first quarter.
• Duke Energy recently announced an increase in its quarterly dividend to $1.065 per share, resulting in a 3.5% yield for investors.

Philadelphia Trust Co. lessened its stake in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 29.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,884 shares of the utilities provider's stock after selling 19,302 shares during the quarter. Philadelphia Trust Co.'s holdings in Duke Energy were worth $5,718,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Brighton Jones LLC grew its position in shares of Duke Energy by 11.6% during the fourth quarter. Brighton Jones LLC now owns 6,754 shares of the utilities provider's stock worth $728,000 after acquiring an additional 700 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Duke Energy during the 4th quarter worth $309,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Duke Energy during the 4th quarter worth $86,000. Canada Pension Plan Investment Board raised its stake in shares of Duke Energy by 34.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,712,955 shares of the utilities provider's stock worth $184,554,000 after buying an additional 435,999 shares during the last quarter. Finally, Holcombe Financial Inc. acquired a new position in Duke Energy in the 4th quarter valued at about $307,000. Institutional investors and hedge funds own 65.31% of the company's stock.

Duke Energy Stock Up 1.8%

Shares of DUK traded up $2.2450 during midday trading on Tuesday, reaching $123.7050. 2,906,421 shares of the stock were exchanged, compared to its average volume of 3,507,098. Duke Energy Corporation has a 12-month low of $105.20 and a 12-month high of $127.85. The firm has a 50 day simple moving average of $119.19 and a 200-day simple moving average of $118.11. The company has a quick ratio of 0.42, a current ratio of 0.66 and a debt-to-equity ratio of 1.55. The company has a market cap of $96.20 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 2.93 and a beta of 0.36.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings data 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 company 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 business's revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.18 EPS. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. Research analysts forecast that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be given a $1.065 dividend. The ex-dividend date is Friday, August 15th. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. This is an increase from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's dividend payout ratio is 69.27%.

Insider Activity at Duke Energy

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 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 in the company, valued at $5,768,397.72. This trade represents a 12.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DUK. BMO Capital Markets boosted their target price on Duke Energy from $131.00 to $132.00 and gave the stock an "outperform" rating in a 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. Scotiabank upped their price target 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. 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, Barclays increased their target price on Duke Energy from $122.00 to $131.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $129.80.

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.