SCS Capital Management LLC Takes $986,000 Position in Duke Energy Corporation $DUK

Key Points

• SCS Capital Management LLC purchased a new stake in Duke Energy Corporation worth approximately $986,000, acquiring 8,087 shares during the first quarter.
• Duke Energy recently announced a quarterly dividend increase to $1.065 per share, reflecting an annualized dividend of $4.26 and a yield of 3.5%.
• Duke Energy's stock has a consensus target price of $130.62 among analysts, with several firms upgrading their price targets and issuing a rating of "Moderate Buy."

SCS Capital Management LLC bought a new stake in Duke Energy Corporation (NYSE:DUK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,087 shares of the utilities provider's stock, valued at approximately $986,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Duke Energy by 2.3% in the first 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 boosted its stake in shares of Duke Energy by 17,880.0% in the first 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. Royal Bank of Canada boosted its stake in shares of Duke Energy by 4.9% in the first quarter. Royal Bank of Canada now owns 8,921,517 shares of the utilities provider's stock valued at $1,088,158,000 after buying an additional 418,014 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Duke Energy by 1.1% in 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 buying an additional 93,699 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Duke Energy by 1.9% in the first quarter. Northern Trust Corp now owns 8,153,615 shares of the utilities provider's stock valued at $994,496,000 after buying an additional 152,542 shares during the period. Institutional investors and hedge funds own 65.31% of the company's stock.

Duke Energy Stock Up 0.8%

Shares of DUK opened at $121.32 on Thursday. Duke Energy Corporation has a 52 week low of $105.20 and a 52 week high of $127.85. The stock has a market capitalization of $94.34 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 2.90 and a beta of 0.39. 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 stock has a fifty day moving average of $121.24 and a 200-day moving average of $119.07.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $1.25 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 the consensus estimate 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 was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.18 earnings per share. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. As a group, sell-side analysts anticipate that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be issued a $1.065 dividend. The ex-dividend date is Friday, August 15th. This is a positive change from Duke Energy's previous quarterly dividend of $1.05. This represents a $4.26 dividend on an annualized basis and a yield of 3.5%. Duke Energy's dividend payout ratio (DPR) is currently 69.27%.

Insiders Place Their Bets

In related news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the 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 completion of the sale, the executive vice president directly owned 46,422 shares in the company, valued at $5,768,397.72. This represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Bonnie B. Titone sold 2,000 shares of the stock in a transaction on 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 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. Corporate insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Raymond James Financial initiated coverage on Duke Energy in a research note on Friday, June 13th. They issued a "market perform" rating for the company. BMO Capital Markets upped their target price on Duke Energy from $131.00 to $132.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Barclays upped their target price on Duke Energy from $122.00 to $131.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. upped their target price on Duke Energy from $127.00 to $131.00 and gave the stock a "neutral" rating in a research note on Thursday, August 21st. Finally, Scotiabank upped their target price on Duke Energy from $120.00 to $128.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 6th. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Duke Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $130.62.

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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