Verdence Capital Advisors LLC Boosts Stake in Duke Energy Corporation $DUK

Verdence Capital Advisors LLC raised its position in Duke Energy Corporation (NYSE:DUK) by 42.6% during the third quarter, HoldingsChannel.com reports. The firm owned 26,392 shares of the utilities provider’s stock after buying an additional 7,879 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Duke Energy were worth $3,365,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DUK. Legacy Investment Solutions LLC purchased a new stake in Duke Energy during the second quarter worth approximately $28,000. Mascoma Wealth Management LLC lifted its holdings in shares of Duke Energy by 53.7% during the 2nd quarter. Mascoma Wealth Management LLC now owns 249 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 87 shares in the last quarter. Access Investment Management LLC purchased a new stake in Duke Energy during the 2nd quarter worth $31,000. Trifecta Capital Advisors LLC increased its holdings in Duke Energy by 2,284.6% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 310 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 297 shares in the last quarter. Finally, Anfield Capital Management LLC raised its position in Duke Energy by 2,608.3% in the second quarter. Anfield Capital Management LLC now owns 325 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 313 shares during the period. Institutional investors and hedge funds own 65.31% of the company’s stock.

Insiders Place Their Bets

In other Duke Energy news, EVP Robert Alexander Glenn sold 8,200 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $123.80, for a total value of $1,015,160.00. Following the completion of the transaction, the executive vice president owned 11,367 shares in the company, valued at approximately $1,407,234.60. This represents a 41.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by corporate insiders.

Duke Energy Stock Performance

DUK stock opened at $119.24 on Tuesday. The firm has a market cap of $92.73 billion, a P/E ratio of 18.75, a P/E/G ratio of 2.59 and a beta of 0.50. The stock’s 50 day simple moving average is $118.87 and its 200 day simple moving average is $121.41. The company has a current ratio of 0.63, a quick ratio of 0.40 and a debt-to-equity ratio of 1.54. Duke Energy Corporation has a 12-month low of $108.45 and a 12-month high of $130.03.

Duke Energy (NYSE:DUK) last issued its earnings results on Thursday, November 6th. The utilities provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. Duke Energy had a net margin of 15.76% and a return on equity of 9.98%. The firm had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.51 billion. During the same quarter last year, the company posted $1.62 earnings per share. Duke Energy’s revenue was up 4.8% on a year-over-year basis. As a group, equities research analysts predict that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 13th will be issued a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, February 13th. Duke Energy’s dividend payout ratio (DPR) is 66.98%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. dropped their target price on Duke Energy from $136.00 to $126.00 and set a “neutral” rating on the stock in a report on Thursday, December 11th. TD Cowen assumed coverage on Duke Energy in a research note on Thursday, October 16th. They set a “buy” rating and a $143.00 target price for the company. BMO Capital Markets cut their price target on Duke Energy from $136.00 to $130.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 13th. Morgan Stanley set a $126.00 price objective on Duke Energy in a research note on Tuesday, December 16th. Finally, Barclays dropped their price objective on Duke Energy from $135.00 to $127.00 and set an “overweight” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Duke Energy presently has an average rating of “Moderate Buy” and a consensus price target of $135.56.

Duke Energy Company Profile

Duke Energy Corporation is a U.S.-based electric power holding company headquartered in Charlotte, North Carolina. The company’s core business is the generation, transmission and distribution of electricity to residential, commercial and industrial customers. Duke Energy operates a mix of regulated electric utilities and non-regulated energy businesses, providing essential energy infrastructure and services across multiple states.

Its operating activities include owning and operating generation assets across a portfolio that encompasses nuclear, natural gas, coal, hydroelectric and an expanding array of renewable resources, as well as battery storage and grid modernization projects.