Chevy Chase Trust Holdings LLC Boosts Stock Position in Duke Energy Corporation $DUK

Chevy Chase Trust Holdings LLC raised its holdings in Duke Energy Corporation (NYSE:DUK) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 413,454 shares of the utilities provider’s stock after buying an additional 4,766 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Duke Energy were worth $48,788,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DUK. GQG Partners LLC grew its holdings in Duke Energy by 17,880.0% in the 1st 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 period. Nuveen LLC purchased a new stake in Duke Energy in the 1st quarter valued at about $702,351,000. Raymond James Financial Inc. grew its holdings in Duke Energy by 88.1% in the 1st quarter. Raymond James Financial Inc. now owns 4,861,309 shares of the utilities provider’s stock valued at $592,934,000 after buying an additional 2,276,948 shares during the period. Vanguard Group Inc. grew its holdings in Duke Energy by 2.3% in 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 buying an additional 1,676,061 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its holdings in Duke Energy by 359.1% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,132,613 shares of the utilities provider’s stock valued at $138,145,000 after buying an additional 885,900 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Insider Buying and Selling

In other news, SVP Bonnie B. Titone sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was 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 directly owned 19,608 shares in the company, valued at approximately $2,438,843.04. This represents a 9.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the firm’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 sale, the executive vice president directly owned 46,422 shares of the company’s stock, valued at $5,768,397.72. The trade was a 12.61% decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Duke Energy Stock Up 0.9%

NYSE DUK opened at $128.55 on Friday. The stock has a market cap of $99.96 billion, a PE ratio of 20.90, a P/E/G ratio of 3.13 and a beta of 0.44. Duke Energy Corporation has a fifty-two week low of $105.20 and a fifty-two week high of $129.51. The business has a 50 day moving average price of $123.34 and a two-hundred day moving average price of $120.13. The company has a quick ratio of 0.42, a current ratio of 0.66 and a debt-to-equity ratio of 1.55.

Duke Energy (NYSE:DUK) last released its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.04). The company had revenue of $7.51 billion during the quarter, compared to analysts’ expectations of $7.07 billion. Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.18 EPS. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. As a group, sell-side analysts predict that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have commented on DUK shares. The Goldman Sachs Group set a $132.00 price target on Duke Energy in a report on Tuesday, July 1st. Morgan Stanley decreased their target price on Duke Energy from $129.00 to $127.00 and set an “equal weight” rating for the company in a report on Thursday, September 25th. JPMorgan Chase & Co. boosted their target price on Duke Energy from $131.00 to $136.00 and gave the stock a “neutral” rating in a report on Tuesday. BMO Capital Markets boosted their target price on Duke Energy from $132.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Finally, Cowen initiated coverage on Duke Energy in a report on Wednesday. They set a “buy” rating for the company. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Duke Energy currently has an average rating of “Moderate Buy” and an average target price of $136.77.

Duke Energy Company 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.