Douglas Lane & Associates LLC Sells 259 Shares of Duke Energy Corporation $DUK

Douglas Lane & Associates LLC trimmed its holdings in Duke Energy Corporation (NYSE:DUK) by 5.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,225 shares of the utilities provider’s stock after selling 259 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Duke Energy were worth $499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the company. RDA Financial Network increased its stake in Duke Energy by 346.3% during the 2nd quarter. RDA Financial Network now owns 12,171 shares of the utilities provider’s stock valued at $1,436,000 after purchasing an additional 9,444 shares in the last quarter. Fiduciary Financial Group LLC increased its stake in Duke Energy by 7.7% during the 2nd quarter. Fiduciary Financial Group LLC now owns 3,070 shares of the utilities provider’s stock valued at $365,000 after purchasing an additional 220 shares in the last quarter. Burkett Financial Services LLC increased its stake in Duke Energy by 0.8% during the 2nd quarter. Burkett Financial Services LLC now owns 11,926 shares of the utilities provider’s stock valued at $1,407,000 after purchasing an additional 95 shares in the last quarter. Voya Investment Management LLC increased its stake in Duke Energy by 20.1% during the 1st quarter. Voya Investment Management LLC now owns 1,102,810 shares of the utilities provider’s stock valued at $134,510,000 after purchasing an additional 184,891 shares in the last quarter. Finally, 1248 Management LLC bought a new stake in Duke Energy during the 1st quarter valued at about $72,000. 65.31% of the stock is currently owned by institutional investors.

Duke Energy Stock Performance

Shares of NYSE DUK opened at $121.96 on Monday. The firm’s 50-day moving average price is $121.42 and its 200-day moving average price is $119.19. The company has a quick ratio of 0.42, a current ratio of 0.66 and a debt-to-equity ratio of 1.55. The company has a market cap of $94.84 billion, a PE ratio of 19.83, a PEG ratio of 2.94 and a beta of 0.39. Duke Energy Corporation has a 52-week low of $105.20 and a 52-week high of $127.85.

Duke Energy (NYSE:DUK) last announced 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 for the quarter, compared to analysts’ expectations of $7.07 billion. Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.18 EPS. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. As a group, analysts anticipate that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be issued a $1.065 dividend. 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. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.5%. Duke Energy’s payout ratio is 69.27%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Scotiabank raised their price objective on shares of Duke Energy from $120.00 to $128.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 6th. Morgan Stanley restated an “outperform” rating on shares of Duke Energy in a research note on Thursday, August 21st. JPMorgan Chase & Co. raised their price objective on shares of Duke Energy from $127.00 to $131.00 and gave the company a “neutral” rating in a research note on Thursday, August 21st. BMO Capital Markets raised their price target 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. Finally, 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. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Duke Energy presently has an average rating of “Moderate Buy” and an average price target of $130.62.

Insider Buying and Selling

In related news, SVP Bonnie B. Titone sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 of the company’s stock, valued at approximately $2,438,843.04. This trade represents a 9.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was 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 directly owned 46,422 shares in the company, valued at approximately $5,768,397.72. The trade was a 12.61% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

About Duke Energy

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.