RDA Financial Network Has $736,000 Position in Duke Energy Corporation $DUK

Key Points

• RDA Financial Network cut its Duke Energy stake by 69.6% in the second quarter, selling 13,301 shares and retaining 5,815 shares worth approximately $736,000. Institutional investors collectively own 65.31% of Duke Energy.
• Duke Energy reported quarterly adjusted earnings of $1.93 per share and revenue of $9.18 billion, exceeding analyst expectations, while revenue increased 11.3% year over year.
• The company raised its quarterly dividend to $1.085 per share, equivalent to an annualized dividend of $4.34 and a 3.5% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $138.62.

RDA Financial Network lowered its holdings in Duke Energy Corporation (NYSE:DUK - Free Report) by 69.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,815 shares of the utilities provider's stock after selling 13,301 shares during the quarter. RDA Financial Network's holdings in Duke Energy were worth $736,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DUK. Basso Capital Management L.P. bought a new stake in shares of Duke Energy in the 4th quarter valued at approximately $25,000. Evolution Wealth Management Inc. grew its position in Duke Energy by 1,111.1% in the fourth quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 200 shares during the period. Triumph Capital Management raised its stake in Duke Energy by 68.6% during the fourth quarter. Triumph Capital Management now owns 231 shares of the utilities provider's stock worth $27,000 after acquiring an additional 94 shares in the last quarter. Cornerstone Financial Management LLC bought a new position in shares of Duke Energy during the fourth quarter valued at $28,000. Finally, Evergreen Advisors LLC bought a new position in shares of Duke Energy during the first quarter valued at $36,000. Institutional investors own 65.31% of the company's stock.

Duke Energy Stock Performance

Duke Energy stock opened at $124.24 on Tuesday. The stock has a 50-day simple moving average of $125.61 and a 200 day simple moving average of $126.28. The stock has a market capitalization of $96.86 billion, a price-to-earnings ratio of 19.03, a P/E/G ratio of 2.76 and a beta of 0.38. The company has a quick ratio of 0.44, a current ratio of 0.66 and a debt-to-equity ratio of 1.45. Duke Energy Corporation has a 12-month low of $113.89 and a 12-month high of $134.49.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.87 by $0.06. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The company's revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.76 EPS. On average, research analysts anticipate that Duke Energy Corporation will post 6.72 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Friday, August 14th will be given a dividend of $1.085 per share. The ex-dividend date is Friday, August 14th. This is a positive change from Duke Energy's previous quarterly dividend of $1.06. This represents a $4.34 dividend on an annualized basis and a dividend yield of 3.5%. Duke Energy's dividend payout ratio (DPR) is currently 65.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on DUK shares. UBS Group lowered their target price on shares of Duke Energy from $137.00 to $135.00 in a report on Monday, May 11th. KeyCorp upgraded shares of Duke Energy from a "sector weight" rating to an "overweight" rating and set a $139.00 price target on the stock in a research report on Thursday, July 23rd. Capitol Sec Mgt cut shares of Duke Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 10th. JPMorgan Chase & Co. raised their price objective on shares of Duke Energy from $136.00 to $141.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. Finally, Barclays reduced their target price on Duke Energy from $143.00 to $134.00 and set an "overweight" rating on the stock in a report on Thursday, June 18th. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $138.62.

Insider Activity at Duke Energy

In other news, CEO Harry K. Sideris sold 20,000 shares of the business's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the completion of the sale, the chief executive officer owned 96,102 shares in the company, valued at $11,952,205.74. The trade was a 17.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Louis E. Renjel sold 3,500 shares of the company's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $125.15, for a total value of $438,025.00. Following the transaction, the chief executive officer directly owned 21,415 shares in the company, valued at $2,680,087.25. This trade represents a 14.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is owned by corporate insiders.

Duke Energy Company Profile

Duke Energy Corporation is a U.S.-based electric power holding company headquartered in Charlotte, North Carolina. The company's core business is the generation, transmission and distribution of electricity to residential, commercial and industrial customers. Duke Energy operates a mix of regulated electric utilities and non-regulated energy businesses, providing essential energy infrastructure and services across multiple states.

Its operating activities include owning and operating generation assets across a portfolio that encompasses nuclear, natural gas, coal, hydroelectric and an expanding array of renewable resources, as well as battery storage and grid modernization projects.

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