Synovus Financial Corp Has $17.19 Million Stake in Duke Energy Corporation $DUK

Key Points

• Synovus Financial Corp increased its holdings in Duke Energy Corporation by 1.6%, owning 140,940 shares valued at $17.19 million after purchasing an additional 2,272 shares in the first quarter.
• Following recent transactions, insider sales included SVP Bonnie B. Titone selling 2,000 shares and EVP Thomas Preston Jr. Gillespie selling 6,700 shares, indicating a decrease in their positions.
• Duke Energy has declared a quarterly dividend increase to $1.065 per share, representing a 3.4% yield, with a payout ratio of 69.27% as of the recent financial report.

Synovus Financial Corp increased its stake in Duke Energy Corporation (NYSE:DUK - Free Report) by 1.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 140,940 shares of the utilities provider's stock after purchasing an additional 2,272 shares during the period. Synovus Financial Corp's holdings in Duke Energy were worth $17,190,000 as of its most recent filing with the SEC.

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

Insider Activity at Duke Energy

In other Duke Energy news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 46,422 shares of the company's stock, valued at approximately $5,768,397.72. The trade was a 12.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Bonnie B. Titone sold 2,000 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president directly owned 19,608 shares in the company, valued at approximately $2,438,843.04. This trade represents 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 currently owned by insiders.

Duke Energy Trading Up 0.1%

Shares of Duke Energy stock traded up $0.15 during midday trading on Tuesday, reaching $123.26. The company had a trading volume of 3,102,019 shares, compared to its average volume of 3,467,169. The stock has a fifty day moving average price of $120.11 and a 200 day moving average price of $118.50. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.66 and a quick ratio of 0.42. The firm has a market cap of $95.85 billion, a PE ratio of 20.04, a P/E/G ratio of 2.97 and a beta of 0.36. Duke Energy Corporation has a fifty-two week low of $105.20 and a fifty-two week high of $127.85.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings results 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 net margin of 15.51% and a return on equity of 9.85%. The business had revenue of $7.51 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same period last year, the firm posted $1.18 earnings per share. Duke Energy's quarterly revenue 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 anticipate that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be paid a $1.065 dividend. This represents a $4.26 annualized dividend and a yield of 3.5%. This is a boost from Duke Energy's previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, August 15th. Duke Energy's payout ratio is presently 69.27%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Raymond James Financial assumed coverage on Duke Energy in a research report on Friday, June 13th. They issued a "market perform" rating on the stock. JPMorgan Chase & Co. lifted their target price on Duke Energy from $127.00 to $131.00 and gave the company a "neutral" rating in a research report on Thursday, August 21st. Citigroup lifted their target price on Duke Energy from $130.00 to $142.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. BMO Capital Markets lifted their target price on Duke Energy from $131.00 to $132.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Finally, Barclays lifted their target price on Duke Energy from $122.00 to $131.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $130.07.

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.