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

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DUK. GQG Partners LLC grew its position in shares of Duke Energy by 17,880.0% during 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 acquiring an additional 10,192,503 shares during the period. Nuveen LLC bought a new position in shares of Duke Energy during the 1st quarter valued at approximately $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 valued at $592,934,000 after acquiring 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 valued at $9,094,327,000 after acquiring 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 valued at $138,145,000 after acquiring an additional 885,900 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Up 0.9%

DUK opened at $128.55 on Friday. The company has a 50 day moving average of $123.34 and a 200 day moving average of $120.13. 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 Corporation has a 12 month low of $105.20 and a 12 month high of $129.51. The company has a market cap of $99.96 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 3.13 and a beta of 0.44.

Duke Energy (NYSE:DUK) last announced 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). Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. The firm had revenue of $7.51 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the previous year, the business earned $1.18 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. On average, sell-side analysts expect that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Dividend Announcement

The company 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 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, November 14th. Duke Energy’s dividend payout ratio (DPR) is presently 69.27%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DUK. Barclays increased their target price on shares of Duke Energy from $131.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday. Jefferies Financial Group increased their target price on shares of Duke Energy from $134.00 to $138.00 and gave the company a “hold” rating in a research report on Wednesday. BMO Capital Markets increased their target price on shares of Duke Energy from $132.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. TD Cowen began coverage on shares of Duke Energy in a report on Thursday. They issued a “buy” rating and a $143.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Duke Energy in a report on Wednesday, October 8th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Duke Energy presently has an average rating of “Moderate Buy” and a consensus target price of $136.77.

Insider Buying and Selling at Duke Energy

In other Duke Energy news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the firm’s stock in a transaction on 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 directly owned 46,422 shares of the company’s stock, valued at $5,768,397.72. This trade represents a 12.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Bonnie B. Titone sold 2,000 shares of the firm’s stock in a transaction 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 directly owned 19,608 shares of the company’s stock, valued at approximately $2,438,843.04. The trade was a 9.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by company 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.