Duke Energy Corporation $DUK Shares Sold by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management decreased its position in Duke Energy Corporation (NYSE:DUK) by 15.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 13,919 shares of the utilities provider’s stock after selling 2,510 shares during the period. Hanson & Doremus Investment Management’s holdings in Duke Energy were worth $1,642,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Duke Energy by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider’s stock valued at $9,094,327,000 after acquiring an additional 1,676,061 shares in the last quarter. GQG Partners LLC raised its position in shares of Duke Energy by 17,880.0% during the first quarter. GQG Partners LLC now owns 10,249,508 shares of the utilities provider’s stock worth $1,250,133,000 after purchasing an additional 10,192,503 shares during the period. Royal Bank of Canada raised its position in shares of Duke Energy by 4.9% during the first quarter. Royal Bank of Canada now owns 8,921,517 shares of the utilities provider’s stock worth $1,088,158,000 after purchasing an additional 418,014 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Duke Energy by 1.1% during the first 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, Northern Trust Corp grew its stake in Duke Energy by 1.9% during the 1st quarter. Northern Trust Corp now owns 8,153,615 shares of the utilities provider’s stock valued at $994,496,000 after acquiring an additional 152,542 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DUK. Barclays raised their price target on Duke Energy from $122.00 to $131.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. The Goldman Sachs Group set a $132.00 price target on Duke Energy in a research note on Tuesday, July 1st. Jefferies Financial Group downgraded Duke Energy from a “buy” rating to a “hold” rating and decreased their target price for the company from $141.00 to $134.00 in a research note on Friday. Morgan Stanley lowered their price objective on Duke Energy from $129.00 to $127.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Raymond James Financial initiated coverage on Duke Energy in a report on Friday, June 13th. They issued a “market perform” rating for the company. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Duke Energy has an average rating of “Moderate Buy” and an average target price of $131.00.

Insider Buying and Selling

In other news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the company’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 value 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 represents a 12.61% 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, SVP Bonnie B. Titone sold 2,000 shares of the company’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 completion of the transaction, the senior vice president directly owned 19,608 shares in the company, valued at $2,438,843.04. The trade was a 9.26% decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Duke Energy Stock Performance

DUK stock opened at $122.99 on Monday. 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 has a market cap of $95.64 billion, a PE ratio of 20.00, a P/E/G ratio of 2.97 and a beta of 0.39. Duke Energy Corporation has a 1-year low of $105.20 and a 1-year high of $127.85. The business’s 50-day moving average price is $122.29 and its two-hundred day moving average price is $119.52.

Duke Energy (NYSE:DUK) last released its 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 firm 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 was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 EPS. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. As a group, research analysts forecast that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th were given a dividend of $1.065 per share. This represents a $4.26 dividend on an annualized basis and a yield of 3.5%. This is a boost from Duke Energy’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, August 15th. Duke Energy’s dividend payout ratio (DPR) is presently 69.27%.

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.