Folger Nolan Fleming Douglas Capital Management Inc. Sells 516 Shares of Duke Energy Corporation $DUK

Folger Nolan Fleming Douglas Capital Management Inc. cut its stake in Duke Energy Corporation (NYSE:DUK) by 4.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,649 shares of the utilities provider’s stock after selling 516 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Duke Energy were worth $1,257,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in DUK. Activest Wealth Management increased its position 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 valued at $26,000 after buying an additional 105 shares during the period. Wayfinding Financial LLC bought a new stake in shares of Duke Energy during the first quarter valued at about $27,000. N.E.W. Advisory Services LLC bought a new stake in shares of Duke Energy during the first quarter valued at about $27,000. Mascoma Wealth Management LLC increased its position in shares of Duke Energy by 53.7% during the second quarter. Mascoma Wealth Management LLC now owns 249 shares of the utilities provider’s stock valued at $29,000 after buying an additional 87 shares during the period. Finally, Financial Network Wealth Advisors LLC increased its position in shares of 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 during the period. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DUK. UBS Group upped their price target on Duke Energy from $131.00 to $137.00 and gave the company a “neutral” rating in a research report on Friday. 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 research report on Friday. Jefferies Financial Group cut Duke Energy from a “buy” rating to a “hold” rating and reduced their target price for the stock from $141.00 to $134.00 in a research report on Friday, September 26th. Morgan Stanley reduced their target price on Duke Energy from $129.00 to $127.00 and set an “equal weight” rating for the company in a research report on Thursday, September 25th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Duke Energy in a research report on Wednesday. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $134.08.

Duke Energy Trading Up 1.7%

NYSE DUK opened at $126.88 on Friday. Duke Energy Corporation has a 1-year low of $105.20 and a 1-year high of $127.85. 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 stock has a 50-day moving average of $123.06 and a 200-day moving average of $119.85. The firm has a market cap of $98.66 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 3.01 and a beta of 0.44.

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

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th were given a dividend of $1.065 per share. This represents a $4.26 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Duke Energy’s previous quarterly dividend of $1.05. Duke Energy’s dividend payout ratio is currently 69.27%.

Insider Buying and Selling

In other Duke Energy news, SVP Bonnie B. Titone sold 2,000 shares of the company’s 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 owned 19,608 shares of the company’s stock, valued at $2,438,843.04. This represents a 9.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the company’s stock in a transaction that occurred 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 transaction, 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. Corporate insiders own 0.14% of the company’s stock.

About Duke Energy

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.