SVB Wealth LLC Increases Position in Duke Energy Corporation $DUK

Key Points

• SVB Wealth LLC increased its investment in Duke Energy Corporation by 33.7% during the 1st quarter, acquiring an additional 6,978 shares, bringing its total holdings to 27,691 shares valued at $3.38 million.
• Multiple large investors including Vanguard Group and GQG Partners have significantly raised their stakes in Duke Energy, with institutional investors collectively owning 65.31% of the company's stock.
• Duke Energy declared a quarterly dividend increase to $1.065 per share, reflecting a boost from the previous dividend of $1.05, with a current yield of 3.4%.

SVB Wealth LLC grew its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 33.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,691 shares of the utilities provider's stock after acquiring an additional 6,978 shares during the period. SVB Wealth LLC's holdings in Duke Energy were worth $3,378,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DUK. N.E.W. Advisory Services LLC bought a new position in Duke Energy during the first quarter worth about $27,000. Wayfinding Financial LLC bought a new position in Duke Energy during the first quarter worth about $27,000. Mattson Financial Services LLC bought a new position in Duke Energy during the fourth quarter worth about $28,000. Vermillion Wealth Management Inc. bought a new position in Duke Energy during the fourth quarter worth about $27,000. Finally, Financial Network Wealth Advisors LLC grew its holdings in Duke Energy by 360.0% during the first quarter. Financial Network Wealth Advisors LLC now owns 253 shares of the utilities provider's stock worth $31,000 after purchasing an additional 198 shares during the period. Institutional investors own 65.31% of the company's stock.

Analysts Set New Price Targets

DUK has been the subject of a number of research analyst reports. Morgan Stanley restated an "outperform" rating on shares of Duke Energy in a report on Thursday, August 21st. The Goldman Sachs Group set a $132.00 price objective on Duke Energy in a report on Tuesday, July 1st. JPMorgan Chase & Co. boosted their price objective on Duke Energy from $127.00 to $131.00 and gave the stock a "neutral" rating in a report on Thursday, August 21st. Scotiabank boosted their price objective on Duke Energy from $120.00 to $128.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 6th. Finally, UBS Group restated a "neutral" rating and set a $127.00 price objective (up previously from $124.00) on shares of Duke Energy in a report on Friday, July 11th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $130.07.

Duke Energy Price Performance

NYSE DUK traded up $0.15 on Tuesday, hitting $123.26. 3,102,019 shares of the company's stock were exchanged, compared to its average volume of 3,467,169. The stock has a 50-day moving average of $119.94 and a 200-day moving average of $118.47. 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 Corporation has a 52 week low of $105.20 and a 52 week high of $127.85. The stock has a market cap of $95.85 billion, a price-to-earnings ratio of 19.57, a P/E/G ratio of 2.97 and a beta of 0.36.

Duke Energy (NYSE:DUK - Get Free Report) last released its earnings results on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share 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 business had revenue of $7.51 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the previous year, the company earned $1.18 earnings per share. The firm'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. Analysts expect that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Increases Dividend

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

Insider Buying and Selling at Duke Energy

In other Duke Energy news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $124.26, for a total transaction of $832,542.00. Following the completion of the sale, the executive vice president directly owned 46,422 shares in the company, valued at approximately $5,768,397.72. This trade represents a 12.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Bonnie B. Titone sold 2,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $124.38, for a total value of $248,760.00. Following the sale, the senior vice president owned 19,608 shares of the company's stock, valued at approximately $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 company insiders.

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.