Sagespring Wealth Partners LLC Buys 3,023 Shares of Duke Energy Corporation $DUK

Key Points

• Sagespring Wealth Partners LLC increased its stake in Duke Energy Corporation by 9.9% during the second quarter, acquiring an additional 3,023 shares, bringing its total holdings to 33,557 shares valued at $3,960,000.
• In its latest earnings report, Duke Energy missed the earnings per share (EPS) estimate by 4 cents, posting $1.25 EPS against a consensus estimate of $1.29, while revenue for the quarter was $7.51 billion, exceeding estimates of $7.07 billion.
• Duke Energy's stock was recently decreased by analysts at Morgan Stanley from $129.00 to $127.00, while UBS Group increased its price target from $131.00 to $137.00, with the stock currently carrying an average rating of "Moderate Buy."

Sagespring Wealth Partners LLC boosted its stake in shares of Duke Energy Corporation (NYSE:DUK - Free Report) by 9.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,557 shares of the utilities provider's stock after acquiring an additional 3,023 shares during the period. Sagespring Wealth Partners LLC's holdings in Duke Energy were worth $3,960,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Duke Energy by 2.3% in 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 last quarter. GQG Partners LLC increased its stake in shares of Duke Energy by 17,880.0% in 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 purchasing an additional 10,192,503 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Duke Energy by 4.9% in the 1st quarter. Royal Bank of Canada now owns 8,921,517 shares of the utilities provider's stock valued at $1,088,158,000 after purchasing an additional 418,014 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Duke Energy by 1.1% in the 1st 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 purchasing an additional 93,699 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Duke Energy by 1.9% in the 1st quarter. Northern Trust Corp now owns 8,153,615 shares of the utilities provider's stock valued at $994,496,000 after purchasing an additional 152,542 shares during the last quarter. Institutional investors own 65.31% of the company's stock.

Duke Energy Stock Down 0.7%

Shares of DUK opened at $126.11 on Tuesday. The company has a market capitalization of $98.06 billion, a PE ratio of 20.50, a PEG ratio of 3.06 and a beta of 0.44. Duke Energy Corporation has a 12 month low of $105.20 and a 12 month high of $127.85. The stock's 50-day moving average price is $123.10 and its two-hundred day moving average price is $119.93. The company has a current ratio of 0.66, a quick ratio of 0.42 and a debt-to-equity ratio of 1.55.

Duke Energy (NYSE:DUK - Get Free Report) last announced its earnings results on Tuesday, August 5th. The utilities provider reported $1.25 EPS for the quarter, missing the consensus estimate 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 return on equity of 9.85% and a net margin of 15.51%.The firm's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.18 earnings per share. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. On average, analysts anticipate that Duke Energy Corporation will post 6.33 EPS for the current year.

Analyst Upgrades and Downgrades

DUK has been the topic of several recent analyst reports. UBS Group lifted their price target on Duke Energy from $131.00 to $137.00 and gave the company a "neutral" rating in a research note on Friday. Weiss Ratings reiterated a "buy (b-)" rating on shares of Duke Energy in a research note on Wednesday, October 8th. BMO Capital Markets raised their price objective on Duke Energy from $132.00 to $135.00 and gave the company an "outperform" rating in a report on Friday. The Goldman Sachs Group set a $132.00 price objective on Duke Energy in a report on Tuesday, July 1st. Finally, Morgan Stanley cut their price objective on Duke Energy from $129.00 to $127.00 and set an "equal weight" rating on the stock in a report on Thursday, September 25th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $134.38.

Insider Transactions at Duke Energy

In related news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the business's 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 sale, the executive vice president directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Bonnie B. Titone sold 2,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total value of $248,760.00. Following the completion of the sale, the senior vice president directly owned 19,608 shares of the company's stock, valued at $2,438,843.04. The trade was 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 insiders.

About Duke Energy

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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