SpringVest Wealth Management LLC Trims Stock Holdings in Duke Energy Corporation $DUK

SpringVest Wealth Management LLC lowered its holdings in Duke Energy Corporation (NYSE:DUK) by 7.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,689 shares of the utilities provider’s stock after selling 225 shares during the period. SpringVest Wealth Management LLC’s holdings in Duke Energy were worth $317,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DUK. Brighton Jones LLC boosted its holdings in Duke Energy by 11.6% in the fourth quarter. Brighton Jones LLC now owns 6,754 shares of the utilities provider’s stock valued at $728,000 after purchasing an additional 700 shares during the last quarter. Miracle Mile Advisors LLC bought a new position in Duke Energy during the 1st quarter worth approximately $207,000. Wedge Capital Management L L P NC bought a new position in Duke Energy during the 1st quarter worth approximately $204,000. Farther Finance Advisors LLC lifted its holdings in Duke Energy by 48.3% during the 1st quarter. Farther Finance Advisors LLC now owns 18,798 shares of the utilities provider’s stock worth $2,276,000 after buying an additional 6,120 shares during the last quarter. Finally, Pallas Capital Advisors LLC lifted its holdings in Duke Energy by 16.1% during the 1st quarter. Pallas Capital Advisors LLC now owns 4,013 shares of the utilities provider’s stock worth $489,000 after buying an additional 557 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays increased their target price on Duke Energy from $122.00 to $131.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. increased their price target on Duke Energy from $127.00 to $131.00 and gave the stock a “neutral” rating in a research report on Thursday, August 21st. Scotiabank set a $137.00 price target on Duke Energy and gave the stock a “sector outperform” rating in a research report on Friday, October 3rd. The Goldman Sachs Group set a $132.00 price target on Duke Energy in a research report on Tuesday, July 1st. Finally, Evercore ISI initiated coverage on Duke Energy in a research report on Monday. They set an “outperform” rating and a $143.00 price target on the stock. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Duke Energy presently has an average rating of “Moderate Buy” and an average price target of $133.08.

Duke Energy Stock Performance

Shares of NYSE DUK opened at $125.30 on Thursday. The stock has a fifty day moving average price of $122.93 and a two-hundred day moving average price of $119.73. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.42 and a current ratio of 0.66. The firm has a market cap of $97.44 billion, a P/E ratio of 20.37, a PEG ratio of 3.03 and a beta of 0.44. Duke Energy Corporation has a 1 year low of $105.20 and a 1 year high of $127.85.

Duke Energy (NYSE:DUK) last issued 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 firm 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%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.18 earnings per share. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. Research analysts forecast that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th were paid a dividend of $1.065 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $4.26 annualized dividend and a dividend yield of 3.4%. This is a boost from Duke Energy’s previous quarterly dividend of $1.05. Duke Energy’s dividend payout ratio is 69.27%.

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 stock was sold at an average price of $124.26, for a total transaction of $832,542.00. Following the completion of the sale, the executive vice president directly owned 46,422 shares of the company’s stock, valued at $5,768,397.72. This trade represents a 12.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Bonnie B. Titone sold 2,000 shares of the firm’s stock in a transaction 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 sale, the senior vice president directly owned 19,608 shares of the company’s stock, valued at approximately $2,438,843.04. This represents a 9.26% 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.

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.