Sound Income Strategies LLC Raises Stock Holdings in Duke Energy Corporation $DUK

Key Points

• Sound Income Strategies LLC increased its stake in Duke Energy Corporation by 264.0% during the 2nd quarter, bringing its holdings to 6,941 shares worth approximately $819,000.
• Duke Energy reported $1.25 earnings per share (EPS) for the last quarter, missing estimates by $0.04, with revenue totaling $7.51 billion, surpassing expectations of $7.07 billion.
• The company recently declared a quarterly dividend of $1.065 per share, indicating a positive change from the previous dividend and reflecting a 3.5% dividend yield.

Sound Income Strategies LLC raised its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 264.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,941 shares of the utilities provider's stock after purchasing an additional 5,034 shares during the period. Sound Income Strategies LLC's holdings in Duke Energy were worth $819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. GQG Partners LLC boosted its holdings 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 buying an additional 10,192,503 shares in the last quarter. Nuveen LLC acquired a new stake in Duke Energy in the first quarter valued at approximately $702,351,000. Raymond James Financial Inc. grew its holdings in 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 position in shares of Duke Energy by 2.3% during the first quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider's stock worth $9,094,327,000 after purchasing an additional 1,676,061 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of 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. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Price Performance

Shares of NYSE DUK opened at $122.71 on Tuesday. 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 fifty day moving average of $122.35 and a 200 day moving average of $119.54. The firm has a market cap of $95.42 billion, a PE ratio of 19.95, a PEG ratio of 2.97 and a beta of 0.39. Duke Energy Corporation has a one year low of $105.20 and a one year high of $127.85.

Duke Energy (NYSE:DUK - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.04). Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The firm had revenue of $7.51 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the previous year, the firm posted $1.18 earnings per share. The company's quarterly revenue 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, research analysts predict that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 15th were given a dividend of $1.065 per share. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Duke Energy's previous quarterly dividend of $1.05. Duke Energy's dividend payout ratio is 69.27%.

Insider Activity

In other Duke Energy news, 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 completion of the transaction, the senior vice president owned 19,608 shares of the company's stock, valued at $2,438,843.04. This trade represents a 9.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $124.26, for a total transaction of $832,542.00. Following the transaction, 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 disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DUK. UBS Group restated 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 report on Tuesday, July 1st. BMO Capital Markets increased their price objective 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. Jefferies Financial Group downgraded 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. Finally, Scotiabank raised their price target on shares of Duke Energy from $120.00 to $128.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 6th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $131.50.

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.

Want to see what other hedge funds are holding DUK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Duke Energy Corporation (NYSE:DUK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.