Trust Co of the South Cuts Holdings in Duke Energy Corporation $DUK

Key Points

• Trust Co of the South has reduced its holdings in Duke Energy Corporation by 25.9%, selling 2,639 shares in the second quarter, which brought its total shares owned to 7,551.
• Duke Energy has increased its quarterly dividend to $1.065 per share, a rise from the previous $1.05, reflecting an annualized yield of 3.5%.
• Analysts have set a consensus target price for Duke Energy’s stock at $130.62, with a rating of "Moderate Buy" based on six buy ratings and three hold ratings.

Trust Co of the South reduced its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 25.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,551 shares of the utilities provider's stock after selling 2,639 shares during the quarter. Trust Co of the South's holdings in Duke Energy were worth $891,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Activest Wealth Management grew its holdings in shares of Duke Energy by 98.1% during the first quarter. Activest Wealth Management now owns 212 shares of the utilities provider's stock valued at $26,000 after buying an additional 105 shares during the last quarter. Vermillion Wealth Management Inc. purchased a new stake in shares of Duke Energy during the fourth quarter valued at $27,000. Wayfinding Financial LLC purchased a new stake in shares of Duke Energy during the first quarter valued at $27,000. N.E.W. Advisory Services LLC acquired a new stake in Duke Energy during the 1st quarter worth about $27,000. Finally, Mattson Financial Services LLC acquired a new stake in Duke Energy during the 4th quarter worth about $28,000. 65.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. UBS Group restated a "neutral" rating and set a $127.00 price target (up previously from $124.00) on shares of Duke Energy in a research report on Friday, July 11th. 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 report on Wednesday, August 6th. 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. The Goldman Sachs Group set a $132.00 price target on shares of Duke Energy in a report on Tuesday, July 1st. Finally, Raymond James Financial started coverage on shares of Duke Energy in a report on Friday, June 13th. They set a "market perform" rating for the company. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Duke Energy currently has an average rating of "Moderate Buy" and a consensus target price of $130.62.

Duke Energy Stock Performance

Shares of DUK opened at $121.96 on Friday. The company has a market capitalization of $94.84 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.95 and a beta of 0.39. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.42 and a current ratio of 0.66. Duke Energy Corporation has a 1 year low of $105.20 and a 1 year high of $127.85. The company's 50 day simple moving average is $121.42 and its 200 day simple moving average is $119.15.

Duke Energy (NYSE:DUK - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share 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 analysts' expectations of $7.07 billion. During the same period in the prior year, the business earned $1.18 EPS. The business'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. On average, sell-side analysts predict that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Increases Dividend

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

Insiders Place Their Bets

In related news, 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 sale, the executive vice president directly owned 46,422 shares of the company's stock, valued at approximately $5,768,397.72. This trade represents a 12.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Bonnie B. Titone sold 2,000 shares of the firm's stock in a transaction on 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 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 currently owned by company insiders.

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.

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.