Park Place Capital Corp Decreases Stock Holdings in Duke Energy Corporation $DUK

Park Place Capital Corp trimmed its holdings in shares of Duke Energy Corporation (NYSE:DUK) by 3.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,813 shares of the utilities provider’s stock after selling 144 shares during the quarter. Park Place Capital Corp’s holdings in Duke Energy were worth $453,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. XML Financial LLC increased its position in shares of Duke Energy by 17.9% during the second quarter. XML Financial LLC now owns 5,576 shares of the utilities provider’s stock valued at $658,000 after acquiring an additional 845 shares during the last quarter. Capital Investment Advisors LLC increased its position in shares of Duke Energy by 5.4% during the second quarter. Capital Investment Advisors LLC now owns 62,083 shares of the utilities provider’s stock valued at $7,326,000 after acquiring an additional 3,166 shares during the last quarter. Raleigh Capital Management Inc. increased its position in shares of Duke Energy by 1.8% during the second quarter. Raleigh Capital Management Inc. now owns 12,062 shares of the utilities provider’s stock valued at $1,423,000 after acquiring an additional 212 shares during the last quarter. Asio Capital LLC increased its position in Duke Energy by 13.1% in the second quarter. Asio Capital LLC now owns 20,800 shares of the utilities provider’s stock worth $2,454,000 after buying an additional 2,411 shares during the last quarter. Finally, HB Wealth Management LLC increased its position in Duke Energy by 2.3% in the second quarter. HB Wealth Management LLC now owns 74,467 shares of the utilities provider’s stock worth $8,787,000 after buying an additional 1,660 shares during the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on DUK shares. Jefferies Financial Group downgraded Duke Energy from a “buy” rating to a “hold” rating and decreased their target price for the stock from $141.00 to $134.00 in a research report on Friday. Scotiabank raised their target price on Duke Energy from $120.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 6th. Raymond James Financial started coverage on Duke Energy in a research report on Friday, June 13th. They issued a “market perform” rating for the company. BMO Capital Markets raised their target price on Duke Energy from $131.00 to $132.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. raised their target price on Duke Energy from $127.00 to $131.00 and gave the stock a “neutral” rating in a research report on Thursday, August 21st. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $131.50.

Insider Activity at Duke Energy

In other news, SVP Bonnie B. Titone sold 2,000 shares of the business’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 value of $248,760.00. Following 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was 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 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. 0.14% of the stock is currently owned by corporate insiders.

Duke Energy Stock Down 0.3%

Shares of NYSE:DUK opened at $122.71 on Tuesday. Duke Energy Corporation has a 1 year low of $105.20 and a 1 year high of $127.85. The company has a market cap of $95.42 billion, a PE ratio of 19.95, a P/E/G ratio of 2.97 and a beta of 0.39. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.66 and a quick ratio of 0.42. The stock’s 50-day moving average is $122.35 and its 200 day moving average is $119.54.

Duke Energy (NYSE:DUK) last announced 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). Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. The business had revenue of $7.51 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter in the prior year, the firm earned $1.18 EPS. The firm’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. Sell-side analysts anticipate that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th were given a $1.065 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $4.26 annualized dividend and a dividend yield of 3.5%. This is an increase from Duke Energy’s previous quarterly dividend of $1.05. Duke Energy’s dividend payout ratio is currently 69.27%.

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.