QRG Capital Management Inc. Acquires 14,036 Shares of Duke Energy Corporation $DUK

Key Points

• QRG Capital Management Inc. increased its stake in Duke Energy by 7.0% in Q2, acquiring an additional 14,036 shares, bringing its total holdings to 215,293 shares valued at approximately $25.4 million.
• Duke Energy recently reported a quarterly earnings miss, posting $1.25 earnings per share, below analyst expectations of $1.29, although revenue was up 4.7% year-over-year at $7.51 billion.
• The company increased its quarterly dividend to $1.065 per share, representing an annualized dividend of $4.26 and a dividend yield of 3.4%, after previously being $1.05.

QRG Capital Management Inc. increased its holdings in Duke Energy Corporation (NYSE:DUK - Free Report) by 7.0% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 215,293 shares of the utilities provider's stock after buying an additional 14,036 shares during the quarter. QRG Capital Management Inc.'s holdings in Duke Energy were worth $25,405,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DUK. Activest Wealth Management increased its holdings in Duke Energy by 98.1% in the 1st 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. Wayfinding Financial LLC bought a new stake in Duke Energy in the 1st quarter worth about $27,000. N.E.W. Advisory Services LLC bought a new stake in Duke Energy in the 1st quarter worth about $27,000. Financial Network Wealth Advisors LLC increased its holdings 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 buying an additional 198 shares in the last quarter. Finally, Saudi Central Bank bought a new stake in Duke Energy in the 1st quarter worth about $37,000. 65.31% of the stock is currently owned by institutional investors.

Duke Energy Stock Up 1.7%

DUK stock opened at $123.58 on Friday. Duke Energy Corporation has a twelve month low of $105.20 and a twelve month high of $127.85. The company has a quick ratio of 0.42, a current ratio of 0.66 and a debt-to-equity ratio of 1.55. The stock has a market cap of $96.10 billion, a P/E ratio of 20.09, a PEG ratio of 2.93 and a beta of 0.44. The business's 50-day moving average price is $122.58 and its 200-day moving average price is $119.61.

Duke Energy (NYSE:DUK - Get Free Report) last posted 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). Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. The company had revenue of $7.51 billion for the quarter, compared to analysts' expectations of $7.07 billion. During the same period in the previous year, the firm earned $1.18 earnings per share. The firm's quarterly revenue was up 4.7% on a year-over-year basis. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. On average, equities research analysts forecast that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Increases Dividend

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

Insider Buying and Selling

In related news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the business'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 value of $832,542.00. Following the transaction, the executive vice president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Bonnie B. Titone sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $124.38, for a total value of $248,760.00. Following the completion of the transaction, the senior vice president directly owned 19,608 shares in the company, 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. UBS Group reiterated a "neutral" rating and issued a $127.00 price objective (up from $124.00) on shares of Duke Energy in a report on Friday, July 11th. The Goldman Sachs Group set a $132.00 price target on Duke Energy in a research note on Tuesday, July 1st. JPMorgan Chase & Co. boosted their price target on Duke Energy from $127.00 to $131.00 and gave the company a "neutral" rating in a research note on Thursday, August 21st. Barclays boosted their price target on Duke Energy from $122.00 to $131.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Finally, Morgan Stanley cut their price target 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. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $132.25.

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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