Agate Pass Investment Management LLC Has $625,000 Holdings in Duke Energy Corporation $DUK

Agate Pass Investment Management LLC cut its holdings in Duke Energy Corporation (NYSE:DUK) by 1.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 5,297 shares of the utilities provider’s stock after selling 100 shares during the quarter. Agate Pass Investment Management LLC’s holdings in Duke Energy were worth $625,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Reyes Financial Architecture Inc. increased its position in shares of Duke Energy by 4.8% in the first quarter. Reyes Financial Architecture Inc. now owns 1,827 shares of the utilities provider’s stock worth $223,000 after purchasing an additional 83 shares during the period. Lokken Investment Group LLC increased its position in shares of Duke Energy by 3.3% in the first quarter. Lokken Investment Group LLC now owns 2,633 shares of the utilities provider’s stock worth $321,000 after purchasing an additional 84 shares during the period. Sheets Smith Wealth Management increased its position in shares of Duke Energy by 0.3% in the first quarter. Sheets Smith Wealth Management now owns 27,517 shares of the utilities provider’s stock worth $3,356,000 after purchasing an additional 85 shares during the period. Grandview Asset Management LLC increased its position in shares of Duke Energy by 0.6% in the first quarter. Grandview Asset Management LLC now owns 14,135 shares of the utilities provider’s stock worth $1,724,000 after purchasing an additional 86 shares during the period. Finally, Clear Creek Financial Management LLC increased its position in shares of Duke Energy by 3.7% in the first quarter. Clear Creek Financial Management LLC now owns 2,441 shares of the utilities provider’s stock worth $298,000 after purchasing an additional 86 shares during the period. Institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Performance

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

Duke Energy (NYSE:DUK) last released its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.04). The firm had revenue of $7.51 billion for 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 business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.18 earnings per share. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. Equities research analysts anticipate that Duke Energy Corporation will post 6.33 earnings per share for the current 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 an increase from Duke Energy’s previous quarterly dividend of $1.05. The ex-dividend date was Friday, August 15th. Duke Energy’s dividend payout ratio (DPR) is presently 69.27%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DUK. Evercore ISI initiated coverage on Duke Energy in a research report on Monday. They issued an “outperform” rating and a $143.00 price target on the stock. BMO Capital Markets lifted their target price on Duke Energy from $132.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday. The Goldman Sachs Group set a $132.00 target price on Duke Energy in a research report on Tuesday, July 1st. Barclays lifted their target price on Duke Energy from $122.00 to $131.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Finally, Raymond James Financial initiated coverage on Duke Energy in a research report on Friday, June 13th. They issued a “market perform” rating on the stock. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $134.08.

Insider Activity

In other news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the business’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 sale, the executive vice president directly owned 46,422 shares in the company, valued at approximately $5,768,397.72. The trade was a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Bonnie B. Titone sold 2,000 shares of Duke Energy 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 completion of the transaction, the senior vice president directly owned 19,608 shares in the company, valued at approximately $2,438,843.04. This represents 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.

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.