Geneos Wealth Management Inc. Decreases Stake in Duke Energy Corporation $DUK

Geneos Wealth Management Inc. reduced its position in Duke Energy Corporation (NYSE:DUK) by 8.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,518 shares of the utilities provider’s stock after selling 4,569 shares during the period. Geneos Wealth Management Inc.’s holdings in Duke Energy were worth $5,918,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Acorns Advisers LLC purchased a new stake in Duke Energy during the first quarter valued at approximately $218,000. Blue Rock Wealth Management LLC raised its position in Duke Energy by 53.8% during the first quarter. Blue Rock Wealth Management LLC now owns 7,820 shares of the utilities provider’s stock valued at $954,000 after purchasing an additional 2,737 shares during the period. Fortis Capital Advisors LLC raised its position in Duke Energy by 13.3% during the first quarter. Fortis Capital Advisors LLC now owns 2,448 shares of the utilities provider’s stock valued at $299,000 after purchasing an additional 287 shares during the period. Intech Investment Management LLC raised its position in Duke Energy by 35.4% during the first quarter. Intech Investment Management LLC now owns 33,946 shares of the utilities provider’s stock valued at $4,140,000 after purchasing an additional 8,872 shares during the period. Finally, Focus Partners Wealth raised its position in Duke Energy by 5.1% during the first quarter. Focus Partners Wealth now owns 740,630 shares of the utilities provider’s stock valued at $90,335,000 after purchasing an additional 36,207 shares during the period. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Stock Up 0.8%

Shares of NYSE:DUK opened at $121.32 on Thursday. Duke Energy Corporation has a 52-week low of $105.20 and a 52-week high of $127.85. The stock has a market cap of $94.34 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 2.90 and a beta of 0.39. The business’s 50 day moving average is $121.24 and its 200 day moving average is $119.07. The company has a quick ratio of 0.42, a current ratio of 0.66 and a debt-to-equity ratio of 1.55.

Duke Energy (NYSE:DUK) last announced its quarterly earnings data 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). Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The firm had revenue of $7.51 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same period last year, the company earned $1.18 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be paid a $1.065 dividend. This represents a $4.26 annualized dividend and a yield of 3.5%. This is an increase from Duke Energy’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, August 15th. Duke Energy’s payout ratio is currently 69.27%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on DUK shares. UBS Group restated a “neutral” rating and set a $127.00 price objective (up from $124.00) on shares of Duke Energy in a research report on Friday, July 11th. Raymond James Financial began coverage on Duke Energy in a report on Friday, June 13th. They issued a “market perform” rating on the stock. BMO Capital Markets increased their price target on Duke Energy from $131.00 to $132.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Scotiabank increased their price target on Duke Energy from $120.00 to $128.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 6th. Finally, Morgan Stanley reiterated an “outperform” rating on shares of Duke Energy in a report on Thursday, August 21st. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.62.

Insider Activity at Duke Energy

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 of the company’s stock, valued at $2,438,843.04. This represents a 9.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $124.26, for a total value of $832,542.00. Following the sale, the executive vice president directly owned 46,422 shares in the company, valued at $5,768,397.72. This trade 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.

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.