Patten Group Inc. Raises Stock Holdings in Duke Energy Corporation $DUK

Patten Group Inc. increased its position in Duke Energy Corporation (NYSE:DUK) by 1.3% in the second quarter, HoldingsChannel.com reports. The fund owned 12,333 shares of the utilities provider’s stock after buying an additional 154 shares during the period. Patten Group Inc.’s holdings in Duke Energy were worth $1,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DUK. Activest Wealth Management grew its position in 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 during the period. Wayfinding Financial LLC acquired a new stake in shares of Duke Energy during the 1st quarter valued at about $27,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Duke Energy during the 1st quarter valued at about $27,000. Mascoma Wealth Management LLC grew 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 valued at $29,000 after acquiring an additional 87 shares during the period. Finally, Financial Network Wealth Advisors LLC grew 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 valued at $31,000 after acquiring an additional 198 shares during the period. 65.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DUK shares. Morgan Stanley dropped their target price on Duke Energy from $129.00 to $127.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 25th. BTIG Research started coverage on Duke Energy in a research report on Tuesday. They set a “buy” rating and a $150.00 target price on the stock. Barclays raised their price target on shares of Duke Energy from $131.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. TD Cowen started coverage on shares of Duke Energy in a research note on Thursday, October 16th. They issued a “buy” rating and a $143.00 price target on the stock. Finally, Evercore ISI started coverage on shares of Duke Energy in a research note on Monday, October 6th. They issued an “outperform” rating and a $143.00 price target on the stock. Twelve 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $137.71.

Duke Energy Trading Down 0.5%

Shares of Duke Energy stock opened at $128.25 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.42 and a debt-to-equity ratio of 1.55. The firm’s 50-day moving average price is $123.48 and its 200 day moving average price is $120.23. Duke Energy Corporation has a twelve month low of $105.20 and a twelve month high of $129.51. The firm has a market capitalization of $99.73 billion, a PE ratio of 20.85, a P/E/G ratio of 3.17 and a beta of 0.44.

Duke Energy (NYSE:DUK) last released its earnings results on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.04). Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The business had revenue of $7.51 billion during the quarter, compared to analysts’ expectations of $7.07 billion. During the same period last year, the business earned $1.18 earnings per share. The company’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. On average, sell-side analysts predict that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Announces Dividend

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

Insider Buying and Selling

In other Duke Energy 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 directly owned 19,608 shares of the company’s stock, valued at $2,438,843.04. This trade represents a 9.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 $5,768,397.72. This trade represents a 12.61% decrease in their ownership of the stock. 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.