Trust Co. of Vermont Invests $1.81 Million in Duke Energy Corporation $DUK

Key Points

• Trust Co. of Vermont purchased 14,323 Duke Energy shares worth approximately $1.81 million, while institutional investors and hedge funds collectively own 65.31% of the company.
• Duke Energy exceeded quarterly earnings expectations, reporting $1.43 in EPS versus the $1.30 consensus estimate, although revenue of $7.59 billion fell slightly short of forecasts.
• The company raised its quarterly dividend to $1.085 per share, equal to an annualized $4.34 payout and a 3.5% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $138.25.

Trust Co. of Vermont purchased a new stake in shares of Duke Energy Corporation (NYSE:DUK - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 14,323 shares of the utilities provider's stock, valued at approximately $1,813,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Basso Capital Management L.P. bought a new position in Duke Energy during the fourth quarter valued at about $25,000. Evolution Wealth Management Inc. boosted its stake in shares of Duke Energy by 1,111.1% during the 4th quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider's stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Triumph Capital Management increased its holdings in shares of Duke Energy by 68.6% during the 4th quarter. Triumph Capital Management now owns 231 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 94 shares during the last quarter. Cornerstone Financial Management LLC acquired a new position in shares of Duke Energy during the 4th quarter valued at about $28,000. Finally, Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of Duke Energy by 300.0% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 280 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 210 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company's stock.

Duke Energy Stock Performance

DUK opened at $123.61 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 0.66 and a debt-to-equity ratio of 1.47. The stock's 50 day moving average price is $125.80 and its two-hundred day moving average price is $126.61. The firm has a market capitalization of $96.38 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 2.73 and a beta of 0.38. Duke Energy Corporation has a 12-month low of $113.89 and a 12-month high of $134.49.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.30 by $0.13. The company had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.66 billion. Duke Energy had a return on equity of 9.78% and a net margin of 15.78%.The company's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 earnings per share. On average, equities analysts forecast that Duke Energy Corporation will post 6.72 earnings per share for the current year.

Duke Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th will be issued a $1.085 dividend. This is a boost from Duke Energy's previous quarterly dividend of $1.06. The ex-dividend date of this dividend is Friday, August 14th. This represents a $4.34 dividend on an annualized basis and a yield of 3.5%. Duke Energy's payout ratio is currently 65.17%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DUK. Barclays reduced their target price on Duke Energy from $140.00 to $132.00 and set an "overweight" rating for the company in a report on Wednesday, August 5th. Jefferies Financial Group dropped their price target on shares of Duke Energy from $143.00 to $138.00 in a research report on Monday, May 11th. UBS Group reduced their price objective on shares of Duke Energy from $137.00 to $135.00 in a research note on Monday, May 11th. Wells Fargo & Company upped their price objective on shares of Duke Energy from $135.00 to $136.00 and gave the stock an "equal weight" rating in a report on Monday, April 20th. Finally, BTIG Research reiterated a "buy" rating on shares of Duke Energy in a report on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $138.25.

About Duke Energy

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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