BROOKFIELD Corp ON Trims Stock Position in Duke Energy Corporation $DUK

by · The Cerbat Gem

BROOKFIELD Corp ON lessened its holdings in shares of Duke Energy Corporation (NYSE:DUK – Free Report) by 7.4% in the 1st quarter, HoldingsChannel reports. The firm owned 728,028 shares of the utilities provider’s stock after selling 57,873 shares during the quarter. Duke Energy makes up approximately 0.5% of BROOKFIELD Corp ON’s holdings, making the stock its 25th largest holding. BROOKFIELD Corp ON’s holdings in Duke Energy were worth $88,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management raised its holdings in shares of Duke Energy by 98.1% during the first quarter. Activest Wealth Management now owns 212 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 105 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Duke Energy during the first quarter worth $27,000. Wayfinding Financial LLC purchased a new stake in Duke Energy during the first quarter worth $27,000. Mattson Financial Services LLC purchased a new stake in Duke Energy during the fourth quarter worth $28,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Duke Energy during the fourth quarter worth $27,000. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Trading Up 0.7%

Shares of Duke Energy stock opened at $122.22 on Friday. The firm has a market capitalization of $95.04 billion, a PE ratio of 19.87, a P/E/G ratio of 2.93 and a beta of 0.39. Duke Energy Corporation has a twelve month low of $105.20 and a twelve month high of $127.85. The firm’s 50-day moving average price is $121.33 and its 200 day moving average price is $119.11. 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 – Get Free Report) last issued 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 net margin of 15.51% and a return on equity of 9.85%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.18 earnings per share. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. On average, sell-side analysts predict that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be paid a $1.065 dividend. The ex-dividend date of this dividend is Friday, August 15th. 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. Duke Energy’s dividend payout ratio is 69.27%.

Insider Activity

In other news, SVP Bonnie B. Titone sold 2,000 shares of the firm’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 transaction, the senior vice president directly owned 19,608 shares of the company’s stock, valued at approximately $2,438,843.04. This trade represents a 9.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the firm’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 transaction, the executive vice president directly owned 46,422 shares in the company, valued at approximately $5,768,397.72. This represents a 12.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. UBS Group reissued a “neutral” rating and set a $127.00 price target (up from $124.00) on shares of Duke Energy in a report on Friday, July 11th. Barclays upped their price target on Duke Energy from $122.00 to $131.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. raised their price objective on Duke Energy from $127.00 to $131.00 and gave the company a “neutral” rating in a report on Thursday, August 21st. Scotiabank upped their target price on Duke Energy from $120.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 6th. Finally, Raymond James Financial began coverage on Duke Energy in a research report on Friday, June 13th. They set a “market perform” rating on the stock. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.62.

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Duke Energy Profile

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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.

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