Kanawha Capital Management LLC Boosts Stake in Duke Energy Corporation $DUK

Kanawha Capital Management LLC grew its stake in shares of Duke Energy Corporation (NYSE:DUK) by 14.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,489 shares of the utilities provider’s stock after buying an additional 929 shares during the quarter. Kanawha Capital Management LLC’s holdings in Duke Energy were worth $884,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its position in shares of Duke Energy by 7.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 291,667 shares of the utilities provider’s stock valued at $35,575,000 after buying an additional 20,942 shares in the last quarter. Pinnacle Financial Partners Inc raised its position in Duke Energy by 9.9% in the 1st quarter. Pinnacle Financial Partners Inc now owns 127,419 shares of the utilities provider’s stock worth $14,451,000 after purchasing an additional 11,445 shares during the period. Beacon Investment Advisory Services Inc. raised its position in Duke Energy by 8.1% in the 1st quarter. Beacon Investment Advisory Services Inc. now owns 51,354 shares of the utilities provider’s stock worth $6,264,000 after purchasing an additional 3,837 shares during the period. Charles Schwab Investment Management Inc. raised its position in Duke Energy by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,656,244 shares of the utilities provider’s stock worth $1,055,087,000 after purchasing an additional 93,699 shares during the period. Finally, Resolution Capital Ltd raised its position in Duke Energy by 7.6% in the 1st quarter. Resolution Capital Ltd now owns 59,995 shares of the utilities provider’s stock worth $7,318,000 after purchasing an additional 4,255 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Wall Street Analyst Weigh In

DUK has been the topic of a number of analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Duke Energy in a research report on Wednesday, October 8th. The Goldman Sachs Group set a $132.00 target price on shares of Duke Energy in a research report on Tuesday, July 1st. UBS Group lifted their target price on shares of Duke Energy from $131.00 to $137.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Evercore ISI initiated coverage on shares of Duke Energy in a research report on Monday, October 6th. They issued an “outperform” rating and a $143.00 target price on the stock. Finally, Morgan Stanley decreased their target price on shares of 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. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $136.77.

Duke Energy Price Performance

DUK stock opened at $128.55 on Friday. The firm’s 50-day moving average price is $123.34 and its two-hundred day moving average price is $120.13. Duke Energy Corporation has a 12-month low of $105.20 and a 12-month high of $129.51. The stock has a market capitalization of $99.96 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 3.13 and a beta of 0.44. The company has a current ratio of 0.66, a quick ratio of 0.42 and a debt-to-equity ratio of 1.55.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results 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 net margin of 15.51% and a return on equity of 9.85%. The company had revenue of $7.51 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter in the prior year, the firm earned $1.18 EPS. 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. As a group, equities analysts predict that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 14th will be given a dividend of $1.065 per share. The ex-dividend date is Friday, November 14th. This represents a $4.26 annualized dividend and a dividend yield of 3.3%. Duke Energy’s payout ratio is currently 69.27%.

Insider Activity

In other Duke Energy news, SVP Bonnie B. Titone sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total value of $248,760.00. Following the sale, the senior vice president owned 19,608 shares in the company, valued at approximately $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 can be accessed through this link. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the company’s stock in a transaction dated 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 owned 46,422 shares in the company, 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. 0.14% of the stock is owned by insiders.

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.