Smith Salley Wealth Management Purchases 2,455 Shares of Duke Energy Corporation $DUK

Key Points

• Smith Salley Wealth Management increased its holdings in Duke Energy by 4.7% during the second quarter, acquiring an additional 2,455 shares, bringing their total to 54,212 shares valued at approximately $6.4 million.
• Several analysts have recently raised their price targets for Duke Energy, with Barclays and JPMorgan Chase both setting targets at $131.00, supporting a consensus rating of "Moderate Buy."
• Duke Energy has announced an increase in its quarterly dividend to $1.065 per share, up from $1.05, providing a dividend yield of 3.5%.

Smith Salley Wealth Management raised its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 4.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 54,212 shares of the utilities provider's stock after acquiring an additional 2,455 shares during the quarter. Smith Salley Wealth Management's holdings in Duke Energy were worth $6,397,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Toth Financial Advisory Corp increased its stake in Duke Energy by 31.6% in the first quarter. Toth Financial Advisory Corp now owns 346 shares of the utilities provider's stock worth $42,000 after purchasing an additional 83 shares during the period. Reyes Financial Architecture Inc. boosted its holdings in Duke Energy by 4.8% during the 1st quarter. Reyes Financial Architecture Inc. now owns 1,827 shares of the utilities provider's stock valued at $223,000 after acquiring an additional 83 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Duke Energy by 2.8% in the 1st quarter. Revolve Wealth Partners LLC now owns 3,034 shares of the utilities provider's stock valued at $370,000 after buying an additional 84 shares in the last quarter. Lokken Investment Group LLC raised its position in Duke Energy by 3.3% in the first quarter. Lokken Investment Group LLC now owns 2,633 shares of the utilities provider's stock worth $321,000 after acquiring an additional 84 shares in the last quarter. Finally, Sheets Smith Wealth Management lifted its holdings in shares of Duke Energy by 0.3% during the 1st quarter. Sheets Smith Wealth Management now owns 27,517 shares of the utilities provider's stock worth $3,356,000 after acquiring an additional 85 shares during the period. Hedge funds and other institutional investors own 65.31% of the company's stock.

Analysts Set New Price Targets

DUK has been the subject of several analyst reports. Barclays boosted their target price on Duke Energy from $122.00 to $131.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. lifted their price target on Duke Energy from $127.00 to $131.00 and gave the stock a "neutral" rating in a research note on Thursday, August 21st. Scotiabank raised their target price on shares of Duke Energy from $120.00 to $128.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 6th. The Goldman Sachs Group set a $132.00 price objective on shares of Duke Energy in a research note on Tuesday, July 1st. Finally, 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 report on Wednesday, August 6th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $131.00.

Insider Activity at Duke Energy

In other Duke Energy news, 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 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 represents a 9.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $124.26, for a total transaction of $832,542.00. Following the completion of the transaction, the executive vice president directly owned 46,422 shares in the company, valued at approximately $5,768,397.72. This represents a 12.61% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company's stock.

Duke Energy Price Performance

Shares of Duke Energy stock opened at $122.99 on Friday. Duke Energy Corporation has a 1-year low of $105.20 and a 1-year high of $127.85. The company has a current ratio of 0.66, a quick ratio of 0.42 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $95.64 billion, a price-to-earnings ratio of 20.00, a P/E/G ratio of 2.97 and a beta of 0.39. The firm's 50-day moving average price is $122.29 and its two-hundred day moving average price is $119.52.

Duke Energy (NYSE:DUK - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $1.25 EPS for the quarter, missing analysts' consensus estimates of $1.29 by ($0.04). Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The company had revenue of $7.51 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same period last year, the firm earned $1.18 earnings per share. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. On average, equities analysts predict that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th were issued a dividend of $1.065 per share. The ex-dividend date was Friday, August 15th. This represents a $4.26 annualized dividend and a dividend yield of 3.5%. This is a boost from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's dividend payout ratio (DPR) is currently 69.27%.

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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