Pegasus Asset Management Inc. Acquires 751 Shares of Duke Energy Corporation $DUK

Pegasus Asset Management Inc. raised its stake in shares of Duke Energy Corporation (NYSE:DUK) by 2.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,667 shares of the utilities provider’s stock after acquiring an additional 751 shares during the quarter. Duke Energy makes up 1.5% of Pegasus Asset Management Inc.’s portfolio, making the stock its 25th largest holding. Pegasus Asset Management Inc.’s holdings in Duke Energy were worth $4,327,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DUK. GQG Partners LLC raised its holdings in shares of Duke Energy by 17,880.0% in the first quarter. GQG Partners LLC now owns 10,249,508 shares of the utilities provider’s stock valued at $1,250,133,000 after buying an additional 10,192,503 shares during the last quarter. Nuveen LLC acquired a new stake in Duke Energy in the first quarter worth about $702,351,000. Raymond James Financial Inc. grew its position in shares of Duke Energy by 88.1% during the 1st quarter. Raymond James Financial Inc. now owns 4,861,309 shares of the utilities provider’s stock worth $592,934,000 after buying an additional 2,276,948 shares during the period. Vanguard Group Inc. grew its position in shares of Duke Energy by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider’s stock worth $9,094,327,000 after buying an additional 1,676,061 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of Duke Energy by 359.1% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,132,613 shares of the utilities provider’s stock worth $138,145,000 after buying an additional 885,900 shares during the period. 65.31% of the stock is owned by institutional investors.

Insider Activity

In other Duke Energy news, SVP Bonnie B. Titone sold 2,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $124.38, for a total value of $248,760.00. Following the completion of the transaction, the senior vice president directly owned 19,608 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $124.26, for a total value of $832,542.00. Following the completion of the transaction, the executive vice president owned 46,422 shares of the company’s stock, valued at $5,768,397.72. This represents a 12.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Duke Energy Stock Performance

DUK opened at $126.88 on Monday. The firm has a market cap of $98.66 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 3.06 and a beta of 0.44. Duke Energy Corporation has a 52-week low of $105.20 and a 52-week 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 business’s fifty day moving average is $123.06 and its 200-day moving average is $119.88.

Duke Energy (NYSE:DUK) last announced its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share 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 business had revenue of $7.51 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the prior year, the company earned $1.18 earnings per share. Duke Energy’s quarterly revenue 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 expect that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DUK. Barclays boosted their price objective on Duke Energy from $122.00 to $131.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Evercore ISI assumed coverage on Duke Energy in a research note on Monday, October 6th. They issued an “outperform” rating and a $143.00 target price on the stock. JPMorgan Chase & Co. upped their price objective on Duke Energy from $127.00 to $131.00 and gave the stock a “neutral” rating in a research note on Thursday, August 21st. BMO Capital Markets increased their price target on Duke Energy from $132.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Scotiabank set a $137.00 price target on Duke Energy and gave the company a “sector outperform” rating in a research note on Friday, October 3rd. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Duke Energy presently has a consensus rating of “Moderate Buy” and an average target price of $134.08.

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.