Rogco LP Purchases Shares of 3,986 Duke Energy Corporation $DUK

Key Points

• Rogco LP has acquired 3,986 shares of Duke Energy Corporation valued at approximately $470,000 in the second quarter.
• Many institutional investors, including GQG Partners LLC and Adage Capital Partners GP L.L.C., have significantly increased their positions in Duke Energy, with institutional ownership reaching 65.31%.
• Duke Energy reported a quarterly earnings miss and announced a dividend increase, with a new quarterly payout of $1.065, reflecting a 3.4% dividend yield.

Rogco LP purchased a new position in Duke Energy Corporation (NYSE:DUK - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,986 shares of the utilities provider's stock, valued at approximately $470,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. GQG Partners LLC boosted its position in Duke Energy by 17,880.0% during the 1st quarter. GQG Partners LLC now owns 10,249,508 shares of the utilities provider's stock valued at $1,250,133,000 after buying an additional 10,192,503 shares during the period. Nuveen LLC purchased a new stake in shares of Duke Energy during the first quarter worth about $702,351,000. Raymond James Financial Inc. grew its stake in shares of Duke Energy by 88.1% in the first quarter. Raymond James Financial Inc. now owns 4,861,309 shares of the utilities provider's stock worth $592,934,000 after purchasing an additional 2,276,948 shares during the last quarter. Vanguard Group Inc. increased its holdings in Duke Energy by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider's stock valued at $9,094,327,000 after purchasing an additional 1,676,061 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its position in Duke Energy by 359.1% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,132,613 shares of the utilities provider's stock valued at $138,145,000 after purchasing an additional 885,900 shares during the last quarter. Institutional investors own 65.31% of the company's stock.

Insider Buying and Selling at Duke Energy

In other 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 of the company's stock, valued at $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 available through the SEC website. Also, SVP Bonnie B. Titone sold 2,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total transaction of $248,760.00. Following the sale, the senior vice president directly owned 19,608 shares in the company, valued at $2,438,843.04. This trade 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 owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group reissued a "neutral" rating and set a $127.00 target price (up from $124.00) on shares of Duke Energy in a research note on Friday, July 11th. The Goldman Sachs Group set a $132.00 price objective on shares of Duke Energy in a research report on Tuesday, July 1st. Jefferies Financial Group cut shares of Duke Energy from a "buy" rating to a "hold" rating and dropped their target price for the stock from $141.00 to $134.00 in a research report on Friday, September 26th. BMO Capital Markets lifted their target price on shares of Duke Energy from $131.00 to $132.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Finally, Barclays increased their price target on shares of Duke Energy from $122.00 to $131.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $131.50.

Duke Energy Trading Up 0.7%

Shares of NYSE DUK opened at $123.71 on Wednesday. Duke Energy Corporation has a 1 year low of $105.20 and a 1 year high of $127.85. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.66 and a quick ratio of 0.42. The firm has a 50-day moving average of $122.41 and a 200 day moving average of $119.57. The stock has a market cap of $96.20 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 2.96 and a beta of 0.39.

Duke Energy (NYSE:DUK - Get Free Report) last announced its earnings results 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 business had revenue of $7.51 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the prior year, the business posted $1.18 EPS. Duke Energy's revenue for the quarter was up 4.7% on a year-over-year basis. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. As a group, sell-side analysts expect that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th were paid a $1.065 dividend. 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 dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, August 15th. Duke Energy's payout ratio is currently 69.27%.

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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