Penobscot Investment Management Company Inc. Increases Position in Duke Energy Corporation $DUK

Penobscot Investment Management Company Inc. raised its holdings in shares of Duke Energy Corporation (NYSE:DUK) by 430.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,180 shares of the utilities provider’s stock after acquiring an additional 9,074 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Duke Energy were worth $1,319,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Activest Wealth Management boosted its stake in shares of Duke Energy by 98.1% during the 1st 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. Wayfinding Financial LLC acquired a new stake in shares of Duke Energy in the first quarter worth approximately $27,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Duke Energy in the first quarter worth approximately $27,000. Financial Network Wealth Advisors LLC lifted its position in Duke Energy by 360.0% during the first quarter. Financial Network Wealth Advisors LLC now owns 253 shares of the utilities provider’s stock valued at $31,000 after buying an additional 198 shares in the last quarter. Finally, Saudi Central Bank acquired a new position in Duke Energy during the first quarter valued at approximately $37,000. 65.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Duke Energy

In related news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the company’s stock in a transaction dated 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 sale, the executive vice president owned 46,422 shares of the company’s stock, valued at $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 SEC, which is available through the SEC website. Also, SVP Bonnie B. Titone sold 2,000 shares of the company’s stock in a transaction dated 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 sale, the senior vice president directly owned 19,608 shares of the company’s stock, valued at $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. Insiders own 0.14% of the company’s stock.

Duke Energy Stock Up 1.7%

Shares of NYSE:DUK opened at $123.58 on Friday. 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 company has a fifty day simple moving average of $122.58 and a 200 day simple moving average of $119.61. The firm has a market cap of $96.10 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 2.93 and a beta of 0.44. Duke Energy Corporation has a 12-month low of $105.20 and a 12-month high of $127.85.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share (EPS) 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 the consensus estimate of $7.07 billion. Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.18 EPS. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. On average, equities research analysts anticipate that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th were issued a dividend of $1.065 per share. This represents a $4.26 annualized dividend and a dividend yield of 3.4%. This is a positive change 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 is presently 69.27%.

Analysts Set New Price Targets

A number of research analysts have weighed in on DUK shares. Raymond James Financial started coverage on shares of Duke Energy in a research report on Friday, June 13th. They set a “market perform” rating on the stock. Jefferies Financial Group lowered shares of Duke Energy from a “buy” rating to a “hold” rating and dropped their price objective for the company from $141.00 to $134.00 in a research note on Friday, September 26th. Barclays lifted their price objective on shares of Duke Energy from $122.00 to $131.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Morgan Stanley dropped their price objective on shares of Duke Energy from $129.00 to $127.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 25th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Duke Energy in a research note on Saturday, September 27th. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.25.

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.