Axxcess Wealth Management LLC Boosts Stock Position in Duke Energy Corporation $DUK

Axxcess Wealth Management LLC lifted its position in Duke Energy Corporation (NYSE:DUK) by 1.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,860 shares of the utilities provider’s stock after purchasing an additional 319 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Duke Energy were worth $3,877,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DUK. GQG Partners LLC boosted its holdings in shares of Duke Energy by 17,880.0% in the 1st quarter. GQG Partners LLC now owns 10,249,508 shares of the utilities provider’s stock worth $1,250,133,000 after purchasing an additional 10,192,503 shares in the last quarter. Nuveen LLC purchased a new position in shares of Duke Energy in the 1st quarter worth about $702,351,000. Raymond James Financial Inc. boosted its holdings in shares of Duke Energy by 88.1% in the 1st quarter. Raymond James Financial Inc. now owns 4,861,309 shares of the utilities provider’s stock worth $592,934,000 after purchasing an additional 2,276,948 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Duke Energy by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider’s stock valued at $9,094,327,000 after acquiring an additional 1,676,061 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in Duke Energy by 359.1% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,132,613 shares of the utilities provider’s stock valued at $138,145,000 after acquiring an additional 885,900 shares during the period. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Duke Energy

In other news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the 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 transaction, the executive vice president owned 46,422 shares of the company’s stock, valued at approximately $5,768,397.72. This represents a 12.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bonnie B. Titone sold 2,000 shares of the 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 of the company’s stock, valued at $2,438,843.04. This represents a 9.26% decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

DUK has been the subject of several analyst reports. Jefferies Financial Group cut Duke Energy from a “buy” rating to a “hold” rating and dropped their target price for the company from $141.00 to $134.00 in a report on Friday, September 26th. UBS Group increased their target price on Duke Energy from $131.00 to $137.00 and gave the company a “neutral” rating in a report on Friday. The Goldman Sachs Group set a $132.00 target price on Duke Energy in a report on Tuesday, July 1st. Weiss Ratings restated a “buy (b-)” rating on shares of Duke Energy in a report on Wednesday, October 8th. Finally, Scotiabank set a $137.00 target price on Duke Energy and gave the company a “sector outperform” rating in a report on Friday, October 3rd. Nine investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $135.50.

Duke Energy Trading Up 1.4%

DUK opened at $127.81 on Wednesday. The business has a 50 day simple moving average of $123.17 and a two-hundred day simple moving average of $119.98. The firm has a market capitalization of $99.39 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 3.04 and a beta of 0.44. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.66 and a quick ratio of 0.42. Duke Energy Corporation has a one year low of $105.20 and a one year high of $128.49.

Duke Energy (NYSE:DUK) last released its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.04). The business had revenue of $7.51 billion for the quarter, compared to the consensus estimate of $7.07 billion. Duke Energy had a net margin of 15.51% and a return on equity of 9.85%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.18 EPS. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. Analysts predict that Duke Energy Corporation will post 6.33 EPS for the current year.

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.