Patten & Patten Inc. TN Has $7.42 Million Stock Holdings in Duke Energy Corporation $DUK

Patten & Patten Inc. TN decreased its holdings in Duke Energy Corporation (NYSE:DUK) by 0.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,895 shares of the utilities provider’s stock after selling 217 shares during the quarter. Patten & Patten Inc. TN’s holdings in Duke Energy were worth $7,422,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. raised its stake in Duke Energy by 7.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 291,667 shares of the utilities provider’s stock worth $35,575,000 after purchasing an additional 20,942 shares in the last quarter. Pinnacle Financial Partners Inc raised its stake in Duke Energy by 9.9% in the 1st quarter. Pinnacle Financial Partners Inc now owns 127,419 shares of the utilities provider’s stock worth $14,451,000 after purchasing an additional 11,445 shares in the last quarter. Beacon Investment Advisory Services Inc. raised its position in shares of Duke Energy by 8.1% in the 1st quarter. Beacon Investment Advisory Services Inc. now owns 51,354 shares of the utilities provider’s stock valued at $6,264,000 after buying an additional 3,837 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Duke Energy by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,656,244 shares of the utilities provider’s stock valued at $1,055,087,000 after buying an additional 93,699 shares in the last quarter. Finally, Resolution Capital Ltd raised its position in shares of Duke Energy by 7.6% in the 1st quarter. Resolution Capital Ltd now owns 59,995 shares of the utilities provider’s stock valued at $7,318,000 after buying an additional 4,255 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Insider Buying and Selling

In other Duke Energy news, SVP Bonnie B. Titone sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction of $832,542.00. Following the sale, the executive vice president directly owned 46,422 shares in the company, valued at $5,768,397.72. The trade was a 12.61% 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.

Duke Energy Trading Up 0.7%

Shares of Duke Energy stock opened at $128.73 on Thursday. The firm has a market capitalization of $100.10 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 3.08 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 firm’s 50 day moving average is $123.24 and its 200 day moving average is $120.04. Duke Energy Corporation has a 1 year low of $105.20 and a 1 year high of $128.99.

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 the consensus estimate of $1.29 by ($0.04). The company 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% compared to the same quarter last year. During the same period 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 forecast that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be issued a dividend of $1.065 per share. This represents a $4.26 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, November 14th. Duke Energy’s payout ratio is presently 69.27%.

Wall Street Analyst Weigh In

DUK has been the subject of several analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Duke Energy in a research report on Wednesday, October 8th. The Goldman Sachs Group set a $132.00 target price on shares of Duke Energy in a research report on Tuesday, July 1st. Cowen initiated coverage on shares of Duke Energy in a research report on Wednesday. They issued a “buy” rating for the company. Scotiabank set a $137.00 target price on shares of Duke Energy and gave the company a “sector outperform” rating in a research report on Friday, October 3rd. Finally, Evercore ISI initiated coverage on shares of Duke Energy in a research report on Monday, October 6th. They issued an “outperform” rating and a $143.00 target price for the company. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $135.50.

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.