Spinnaker Trust Has $655,000 Stake in Duke Energy Corporation $DUK

Spinnaker Trust lifted its stake in shares of Duke Energy Corporation (NYSE:DUK) by 17.3% during the second quarter, Holdings Channel reports. The fund owned 5,551 shares of the utilities provider’s stock after buying an additional 820 shares during the quarter. Spinnaker Trust’s holdings in Duke Energy were worth $655,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Beacon Investment Advisory Services Inc. grew its position in 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 purchasing an additional 3,837 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Duke Energy by 1.1% in the first 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. Resolution Capital Ltd grew its holdings in shares of Duke Energy by 7.6% during the first 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 during the last quarter. D.A. Davidson & CO. increased its position in shares of Duke Energy by 2.2% during the first quarter. D.A. Davidson & CO. now owns 234,464 shares of the utilities provider’s stock worth $28,598,000 after acquiring an additional 4,948 shares in the last quarter. Finally, Raymond James Financial Inc. raised 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 acquiring an additional 2,276,948 shares during the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Price Performance

Shares of NYSE:DUK opened at $125.11 on Friday. The company has a market capitalization of $97.28 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 3.05 and a beta of 0.44. The company’s 50-day moving average is $123.89 and its 200 day moving average is $120.71. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.42 and a current ratio of 0.66. Duke Energy Corporation has a fifty-two week low of $105.20 and a fifty-two week high of $130.03.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data 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). The company had revenue of $7.51 billion for the quarter, compared to analysts’ expectations of $7.07 billion. Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $1.18 EPS. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. On average, equities research analysts forecast that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 14th will be issued a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, November 14th. Duke Energy’s payout ratio is 69.27%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DUK. Wells Fargo & Company upgraded Duke Energy to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price target on Duke Energy from $131.00 to $136.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. TD Cowen assumed coverage on shares of Duke Energy in a report on Thursday, October 16th. They set a “buy” rating and a $143.00 price objective on the stock. Mizuho lifted their price objective on shares of Duke Energy from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Barclays increased their target price on shares of Duke Energy from $131.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.00.

Insider Activity at Duke Energy

In other Duke Energy news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the stock in a transaction 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 completion of the transaction, the executive vice president directly owned 46,422 shares of the company’s stock, valued at approximately $5,768,397.72. This represents a 12.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Bonnie B. Titone sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total value of $248,760.00. Following the completion of the sale, the senior vice president owned 19,608 shares in the company, valued at approximately $2,438,843.04. The trade was a 9.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is currently owned by corporate insiders.

Duke Energy Company 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.