Rice Partnership LLC Buys 8,393 Shares of Duke Energy Corporation $DUK

Key Points

• Rice Partnership LLC increased its ownership of Duke Energy by 39.6% in Q2, acquiring 8,393 additional shares valued at approximately $3.49 million.
• Duke Energy recently raised its quarterly dividend from $1.05 to $1.065 per share, yielding approximately 3.4% annually.
• Shares of Duke Energy experienced a 0.2% decline, with a current market capitalization of $97.44 billion and a recent earnings report showing a slight miss against analyst expectations.

Rice Partnership LLC increased its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 39.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,569 shares of the utilities provider's stock after purchasing an additional 8,393 shares during the quarter. Rice Partnership LLC's holdings in Duke Energy were worth $3,489,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. raised its holdings in Duke Energy by 7.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 291,667 shares of the utilities provider's stock worth $35,575,000 after purchasing an additional 20,942 shares during the period. Pinnacle Financial Partners Inc raised its holdings in Duke Energy by 9.9% during the first quarter. Pinnacle Financial Partners Inc now owns 127,419 shares of the utilities provider's stock valued at $14,451,000 after acquiring an additional 11,445 shares during the period. Beacon Investment Advisory Services Inc. raised its holdings in Duke Energy by 8.1% during the first quarter. Beacon Investment Advisory Services Inc. now owns 51,354 shares of the utilities provider's stock valued at $6,264,000 after acquiring an additional 3,837 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Duke Energy by 1.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,656,244 shares of the utilities provider's stock valued at $1,055,087,000 after acquiring an additional 93,699 shares during the period. Finally, Resolution Capital Ltd raised its holdings in Duke Energy by 7.6% during the first quarter. Resolution Capital Ltd now owns 59,995 shares of the utilities provider's stock valued at $7,318,000 after acquiring an additional 4,255 shares during the period. 65.31% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Duke Energy news, SVP Bonnie B. Titone sold 2,000 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $124.38, for a total transaction of $248,760.00. Following the completion of the sale, the senior vice president owned 19,608 shares in the company, valued at $2,438,843.04. This represents a 9.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the company's stock in a transaction 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 in the company, valued at approximately $5,768,397.72. The trade was a 12.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Duke Energy Stock Down 0.2%

Shares of NYSE DUK opened at $125.30 on Thursday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.42 and a current ratio of 0.66. The firm has a market capitalization of $97.44 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 3.03 and a beta of 0.44. The stock has a 50 day moving average price of $122.93 and a 200 day moving average price of $119.73. Duke Energy Corporation has a 52-week low of $105.20 and a 52-week high of $127.85.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.29 by ($0.04). The firm had revenue of $7.51 billion during the quarter, compared to analysts' expectations of $7.07 billion. Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 EPS. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. Sell-side analysts expect that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Increases Dividend

The business also recently announced 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 an increase from Duke Energy's previous quarterly dividend of $1.05. This represents a $4.26 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Friday, August 15th. Duke Energy's dividend payout ratio (DPR) is currently 69.27%.

Analyst Upgrades and Downgrades

A number of research firms have commented on DUK. The Goldman Sachs Group set a $132.00 price target on Duke Energy in a report on Tuesday, July 1st. Weiss Ratings reissued a "buy (b-)" rating on shares of Duke Energy in a research note on Wednesday. Barclays boosted their price objective on Duke Energy from $122.00 to $131.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. BMO Capital Markets boosted their price objective on Duke Energy from $131.00 to $132.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Finally, Scotiabank set a $137.00 target price on Duke Energy and gave the company a "sector outperform" rating in a research report on Friday, October 3rd. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $133.08.

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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