West Tower Group LLC Makes New Investment in Duke Energy Corporation $DUK

Key Points

• West Tower Group LLC has acquired a new position in Duke Energy, purchasing 3,400 shares valued at approximately $401,000 during the second quarter.
• A number of institutional investors have recently increased their stakes in Duke Energy, with total ownership by these entities now at 65.31%.
• Duke Energy declared a quarterly dividend of $1.065 per share, with a dividend yield of 3.3%, set to be paid on December 16th.

West Tower Group LLC bought a new position 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 institutional investor bought 3,400 shares of the utilities provider's stock, valued at approximately $401,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in DUK. Activest Wealth Management grew its position in shares of Duke Energy by 98.1% during the 1st quarter. Activest Wealth Management now owns 212 shares of the utilities provider's stock worth $26,000 after purchasing an additional 105 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Duke Energy during the 1st quarter worth approximately $27,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Duke Energy during the 1st quarter worth approximately $27,000. Mascoma Wealth Management LLC boosted its position in shares of Duke Energy by 53.7% during the 2nd quarter. Mascoma Wealth Management LLC now owns 249 shares of the utilities provider's stock worth $29,000 after acquiring an additional 87 shares in the last quarter. Finally, Financial Network Wealth Advisors LLC boosted its position in shares of Duke Energy by 360.0% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 253 shares of the utilities provider's stock worth $31,000 after acquiring an additional 198 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company's stock.

Insider Buying and Selling at Duke Energy

In other 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 transaction, the executive vice president 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the senior vice president directly owned 19,608 shares of the company's stock, valued at $2,438,843.04. The trade was a 9.26% decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Duke Energy Price Performance

Shares of NYSE:DUK opened at $128.55 on Monday. The company has a market cap of $99.96 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 3.16 and a beta of 0.44. 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 50 day simple moving average of $123.34 and a 200 day simple moving average of $120.10. Duke Energy Corporation has a one year low of $105.20 and a one year high of $129.51.

Duke Energy (NYSE:DUK - Get Free Report) last released 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). The business had revenue of $7.51 billion for the quarter, compared to the consensus estimate of $7.07 billion. Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. Duke Energy's revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.18 EPS. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. Research analysts predict that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be paid a dividend of $1.065 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $4.26 annualized dividend and a dividend yield of 3.3%. Duke Energy's dividend payout ratio (DPR) is presently 69.27%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DUK. TD Cowen began coverage on shares of Duke Energy in a research report on Thursday. They set a "buy" rating and a $143.00 price target on the stock. JPMorgan Chase & Co. increased their price target on shares of Duke Energy from $131.00 to $136.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 14th. BMO Capital Markets increased their price target on shares of Duke Energy from $132.00 to $135.00 and gave the stock an "outperform" rating in a research report on Friday, October 10th. The Goldman Sachs Group set a $132.00 price target on shares of Duke Energy in a research report on Tuesday, July 1st. Finally, Barclays increased their price target on shares of Duke Energy from $131.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 14th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Duke Energy currently has a consensus rating of "Moderate Buy" and an average target price of $136.77.

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.

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