Concord Asset Management LLC VA Grows Position in Duke Energy Corporation $DUK

Concord Asset Management LLC VA increased its position in shares of Duke Energy Corporation (NYSE:DUK) by 29.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,609 shares of the utilities provider’s stock after purchasing an additional 5,124 shares during the period. Concord Asset Management LLC VA’s holdings in Duke Energy were worth $2,668,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Activest Wealth Management boosted its stake in shares of 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. N.E.W. Advisory Services LLC bought a new stake in Duke Energy during the 1st quarter valued at about $27,000. Wayfinding Financial LLC bought a new stake in Duke Energy during the 1st quarter valued at about $27,000. Mascoma Wealth Management LLC lifted its holdings in 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 buying an additional 87 shares in the last quarter. Finally, Financial Network Wealth Advisors LLC lifted its holdings in 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 buying an additional 198 shares in the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Trading Up 1.7%

NYSE:DUK opened at $126.88 on Monday. Duke Energy Corporation has a one year low of $105.20 and a one year high of $127.85. 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 $98.66 billion, a P/E ratio of 20.63, a P/E/G ratio of 3.06 and a beta of 0.44. The firm has a 50-day simple moving average of $123.06 and a 200-day simple moving average of $119.88.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $1.25 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.04). The business had revenue of $7.51 billion during 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 company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.18 EPS. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. Equities analysts anticipate that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on DUK shares. UBS Group lifted their price objective on shares of Duke Energy from $131.00 to $137.00 and gave the company a “neutral” rating in a report on Friday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Duke Energy in a report on Wednesday, October 8th. Morgan Stanley decreased their price objective on shares of Duke Energy from $129.00 to $127.00 and set an “equal weight” rating for the company in a report on Thursday, September 25th. The Goldman Sachs Group set a $132.00 price objective on shares of Duke Energy in a report on Tuesday, July 1st. Finally, Scotiabank set a $137.00 price objective on shares of Duke Energy and gave the company a “sector outperform” rating in a report on Friday, October 3rd. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Duke Energy currently has an average rating of “Moderate Buy” and an average price target of $134.08.

Insider Activity at Duke Energy

In related news, SVP Bonnie B. Titone sold 2,000 shares of the business’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 transaction of $248,760.00. Following the completion of the transaction, the senior vice president owned 19,608 shares in the company, valued at $2,438,843.04. The trade was a 9.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the business’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 transaction, the executive vice president owned 46,422 shares of the company’s stock, valued at approximately $5,768,397.72. This trade represents a 12.61% decrease in their position. The disclosure for this sale can be found here. 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.