Joel Adams & Associates Inc. Decreases Stock Position in Duke Energy Corporation $DUK

Joel Adams & Associates Inc. reduced its position in Duke Energy Corporation (NYSE:DUK) by 12.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,189 shares of the utilities provider’s stock after selling 300 shares during the quarter. Joel Adams & Associates Inc.’s holdings in Duke Energy were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of DUK. Activest Wealth Management boosted its holdings in shares of Duke Energy by 98.1% in the first quarter. Activest Wealth Management now owns 212 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 105 shares during the period. N.E.W. Advisory Services LLC bought a new position in shares of Duke Energy in the first quarter worth $27,000. Wayfinding Financial LLC bought a new position in shares of Duke Energy in the first quarter worth $27,000. Mascoma Wealth Management LLC boosted its holdings in shares of Duke Energy by 53.7% in the second quarter. Mascoma Wealth Management LLC now owns 249 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 87 shares during the period. Finally, Financial Network Wealth Advisors LLC boosted its holdings in shares of Duke Energy by 360.0% in the first quarter. Financial Network Wealth Advisors LLC now owns 253 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 198 shares during the period. 65.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DUK shares. Scotiabank set a $137.00 price target on Duke Energy and gave the stock a “sector outperform” rating in a report on Friday, October 3rd. JPMorgan Chase & Co. lifted their price objective on Duke Energy from $127.00 to $131.00 and gave the company a “neutral” rating in a research note on Thursday, August 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Duke Energy in a research note on Wednesday, October 8th. Evercore ISI assumed coverage on Duke Energy in a research note on Monday, October 6th. They set an “outperform” rating and a $143.00 price objective for the company. Finally, Morgan Stanley dropped their price objective on Duke Energy from $129.00 to $127.00 and set an “equal weight” rating for the company in a research note on Thursday, September 25th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Duke Energy has an average rating of “Moderate Buy” and an average target price of $134.08.

Duke Energy Trading Up 1.7%

Shares of DUK stock opened at $126.88 on Monday. The company has a quick ratio of 0.42, a current ratio of 0.66 and a debt-to-equity ratio of 1.55. The business has a 50-day moving average price of $123.06 and a two-hundred day moving average price of $119.88. Duke Energy Corporation has a 12-month low of $105.20 and a 12-month high of $127.85. The firm has a market cap of $98.66 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 3.06 and a beta of 0.44.

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 the consensus estimate of $1.29 by ($0.04). Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The firm had revenue of $7.51 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same period last year, the firm earned $1.18 EPS. The company’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. Equities 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. Shareholders of record on Friday, August 15th were paid a dividend of $1.065 per share. This represents a $4.26 annualized dividend and a yield of 3.4%. This is an increase 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%.

Insider Activity

In other Duke Energy news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of Duke Energy 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 sale, the executive vice president owned 46,422 shares of the company’s stock, valued at $5,768,397.72. The trade was a 12.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Bonnie B. Titone sold 2,000 shares of Duke Energy stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $124.38, for a total value of $248,760.00. Following the sale, 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 position. The disclosure for this sale can be found here. 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.