Westbourne Investments Inc. Takes Position in Duke Energy Corporation $DUK

Key Points

• Westbourne Investments Inc. invested $282,000 in Duke Energy Corporation by acquiring 2,389 shares during the second quarter.
• Duke Energy reported $1.25 EPS for its last quarter, missing the consensus estimate by $0.04, while its revenue increased by 4.7% compared to the same period last year.
• The company recently increased its quarterly dividend to $1.065 per share, reflecting a yield of 3.5% and a payout ratio of 69.27%.

Westbourne Investments Inc. purchased a new stake in Duke Energy Corporation (NYSE:DUK - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,389 shares of the utilities provider's stock, valued at approximately $282,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Activest Wealth Management raised its holdings in Duke Energy by 98.1% in the first quarter. Activest Wealth Management now owns 212 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 105 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new stake in shares of Duke Energy during the fourth quarter worth $27,000. Wayfinding Financial LLC acquired a new stake in shares of Duke Energy during the first quarter worth $27,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Duke Energy during the first quarter worth $27,000. Finally, Mattson Financial Services LLC acquired a new stake in shares of Duke Energy during the fourth quarter worth $28,000. 65.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Bonnie B. Titone sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $124.38, for a total value of $248,760.00. Following the transaction, the senior vice president owned 19,608 shares in the company, valued at approximately $2,438,843.04. This represents a 9.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the 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 completion of the transaction, the executive vice president owned 46,422 shares in the company, valued at $5,768,397.72. This represents a 12.61% decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on DUK shares. Raymond James Financial began coverage on shares of Duke Energy in a report on Friday, June 13th. They set a "market perform" rating on the stock. BMO Capital Markets upped their price target on shares of Duke Energy from $131.00 to $132.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. 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. Scotiabank upped their price target on shares of Duke Energy from $120.00 to $128.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 6th. Finally, Morgan Stanley reissued an "outperform" rating on shares of Duke Energy in a research note on Thursday, August 21st. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $130.62.

Duke Energy Trading Up 0.6%

DUK stock traded up $0.69 during mid-day trading on Friday, reaching $121.08. 4,842,020 shares of the stock traded hands, compared to its average volume of 2,380,597. The company has a current ratio of 0.66, a quick ratio of 0.42 and a debt-to-equity ratio of 1.55. Duke Energy Corporation has a 52-week low of $105.20 and a 52-week high of $127.85. The company has a market cap of $94.15 billion, a P/E ratio of 19.69, a P/E/G ratio of 2.92 and a beta of 0.39. The stock's fifty day moving average is $121.79 and its 200-day moving average is $119.31.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.29 by ($0.04). The company had revenue of $7.51 billion during the quarter, compared to analysts' expectations of $7.07 billion. Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.Duke Energy's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $1.18 earnings per share. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. As a group, sell-side analysts expect that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th were given a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.5%. This is a positive change from Duke Energy's previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, August 15th. Duke Energy's payout ratio is currently 69.27%.

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.