Tower Bridge Advisors Purchases 7,749 Shares of Duke Energy Corporation $DUK

Key Points

• Tower Bridge Advisors increased its stake in Duke Energy by 49.3% in Q3, buying an additional 7,749 shares to hold 23,452 shares valued at $2.902 million.
• Company insiders recently sold stock — SVP Regis T. Repko sold 962 shares and CEO Louis E. Renjel sold 6,800 shares — and corporate insiders now own just 0.14% of the shares.
• Duke Energy declared a quarterly dividend of $1.065 per share (annualized $4.26), a ~3.2% yield, payable March 16 with an ex-dividend date of February 13.

Tower Bridge Advisors increased its holdings in Duke Energy Corporation (NYSE:DUK - Free Report) by 49.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,452 shares of the utilities provider's stock after acquiring an additional 7,749 shares during the period. Tower Bridge Advisors' holdings in Duke Energy were worth $2,902,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Advisory Alpha LLC grew its position in shares of Duke Energy by 6.5% during the 3rd quarter. Advisory Alpha LLC now owns 16,931 shares of the utilities provider's stock valued at $2,059,000 after acquiring an additional 1,029 shares during the period. IFG Advisory LLC grew its stake in Duke Energy by 6.5% during the third quarter. IFG Advisory LLC now owns 40,093 shares of the utilities provider's stock valued at $4,961,000 after acquiring an additional 2,434 shares in the last quarter. JT Stratford LLC grew its position in shares of Duke Energy by 3.6% during the 3rd quarter. JT Stratford LLC now owns 12,219 shares of the utilities provider's stock valued at $1,512,000 after purchasing an additional 428 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Duke Energy by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,957,374 shares of the utilities provider's stock worth $242,206,000 after buying an additional 11,970 shares in the last quarter. Finally, Cresset Asset Management LLC increased its position in shares of Duke Energy by 12.3% in the third quarter. Cresset Asset Management LLC now owns 14,643 shares of the utilities provider's stock worth $1,812,000 after purchasing an additional 1,604 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, SVP Regis T. Repko sold 962 shares of Duke Energy stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $127.86, for a total transaction of $123,001.32. Following the transaction, the senior vice president owned 3,896 shares of the company's stock, valued at $498,142.56. The trade was a 19.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Louis E. Renjel sold 6,800 shares of the firm's stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $127.67, for a total transaction of $868,156.00. Following the sale, the chief executive officer owned 22,007 shares in the company, valued at $2,809,633.69. The trade was a 23.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.14% of the stock is owned by corporate insiders.

Duke Energy Stock Performance

Shares of DUK opened at $131.90 on Thursday. Duke Energy Corporation has a 12 month low of $111.22 and a 12 month high of $132.66. The business's fifty day simple moving average is $121.99 and its two-hundred day simple moving average is $122.24. The company has a market cap of $102.57 billion, a price-to-earnings ratio of 20.87, a P/E/G ratio of 2.85 and a beta of 0.50. The company has a current ratio of 0.55, a quick ratio of 0.33 and a debt-to-equity ratio of 1.54.

Duke Energy (NYSE:DUK - Get Free Report) last posted its earnings results on Monday, February 9th. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.01. Duke Energy had a net margin of 15.41% and a return on equity of 9.66%. The business had revenue of $7.94 billion for the quarter, compared to analysts' expectations of $7.57 billion. During the same quarter in the prior year, the business earned $1.66 EPS. Research analysts anticipate that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 13th will be given a dividend of $1.065 per share. This represents a $4.26 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, February 13th. Duke Energy's dividend payout ratio is 67.41%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on DUK shares. UBS Group reduced their target price on Duke Energy from $135.00 to $126.00 and set a "neutral" rating on the stock in a research note on Wednesday, December 17th. Evercore reaffirmed an "in-line" rating and issued a $139.00 target price on shares of Duke Energy in a research note on Thursday. Mizuho set a $130.00 price target on Duke Energy in a research report on Tuesday, February 10th. BTIG Research reissued a "buy" rating and set a $141.00 target price on shares of Duke Energy in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. dropped their price target on Duke Energy from $136.00 to $126.00 and set a "neutral" rating for the company in a research note on Thursday, December 11th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $136.87.

Duke Energy Company Profile

Duke Energy Corporation is a U.S.-based electric power holding company headquartered in Charlotte, North Carolina. The company's core business is the generation, transmission and distribution of electricity to residential, commercial and industrial customers. Duke Energy operates a mix of regulated electric utilities and non-regulated energy businesses, providing essential energy infrastructure and services across multiple states.

Its operating activities include owning and operating generation assets across a portfolio that encompasses nuclear, natural gas, coal, hydroelectric and an expanding array of renewable resources, as well as battery storage and grid modernization projects.

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