RDA Financial Network Has $736,000 Stake in Duke Energy Corporation $DUK

RDA Financial Network cut its holdings in Duke Energy Corporation (NYSE:DUK) by 69.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,815 shares of the utilities provider’s stock after selling 13,301 shares during the quarter. RDA Financial Network’s holdings in Duke Energy were worth $736,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Trilogy Capital Inc. raised its holdings in Duke Energy by 3.0% during the 2nd quarter. Trilogy Capital Inc. now owns 36,364 shares of the utilities provider’s stock worth $4,603,000 after buying an additional 1,067 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Duke Energy by 0.8% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 23,627 shares of the utilities provider’s stock valued at $2,991,000 after purchasing an additional 178 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Duke Energy by 19.0% in the second quarter. Versant Capital Management Inc now owns 4,340 shares of the utilities provider’s stock worth $549,000 after purchasing an additional 692 shares in the last quarter. First Financial Bank Trust Division boosted its holdings in Duke Energy by 4.7% during the second quarter. First Financial Bank Trust Division now owns 5,579 shares of the utilities provider’s stock worth $706,000 after purchasing an additional 249 shares during the last quarter. Finally, Eastern Bank grew its position in Duke Energy by 8.0% in the second quarter. Eastern Bank now owns 6,117 shares of the utilities provider’s stock valued at $774,000 after purchasing an additional 453 shares in the last quarter. 65.31% of the stock is owned by institutional investors.

Duke Energy Stock Performance

Shares of DUK opened at $124.24 on Tuesday. The firm has a 50-day moving average of $125.61 and a 200-day moving average of $126.28. Duke Energy Corporation has a one year low of $113.89 and a one year high of $134.49. The company has a market cap of $96.86 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 2.76 and a beta of 0.38. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.66 and a quick ratio of 0.44.

Duke Energy (NYSE:DUK) last issued its earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.06. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The company had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the prior year, the firm earned $1.76 EPS. Duke Energy’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, equities analysts forecast that Duke Energy Corporation will post 6.72 earnings per share for the current year.

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th will be given a dividend of $1.085 per share. This represents a $4.34 dividend on an annualized basis and a yield of 3.5%. This is a boost from Duke Energy’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend is Friday, August 14th. Duke Energy’s dividend payout ratio (DPR) is presently 65.24%.

Wall Street Analyst Weigh In

Several brokerages have commented on DUK. Capitol Sec Mgt cut shares of Duke Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. KeyCorp upgraded Duke Energy from a “sector weight” rating to an “overweight” rating and set a $139.00 price objective for the company in a report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Duke Energy in a report on Friday. Mizuho reduced their price target on Duke Energy from $139.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, June 18th. Finally, UBS Group decreased their price target on Duke Energy from $137.00 to $135.00 in a research note on Monday, May 11th. Ten investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $138.62.

Insider Activity at Duke Energy

In other news, CEO Harry K. Sideris sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $124.37, for a total value of $2,487,400.00. Following the completion of the sale, the chief executive officer directly owned 96,102 shares of the company’s stock, valued at $11,952,205.74. This trade represents a 17.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Louis E. Renjel sold 3,500 shares of Duke Energy stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $125.15, for a total value of $438,025.00. Following the transaction, the chief executive officer owned 21,415 shares of the company’s stock, valued at $2,680,087.25. This represents a 14.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.12% of the stock is owned by corporate insiders.

Duke Energy Company Profile

Duke Energy Corporation is a U.S.-based electric power holding company headquartered in Charlotte, North Carolina. The company’s core business is the generation, transmission and distribution of electricity to residential, commercial and industrial customers. Duke Energy operates a mix of regulated electric utilities and non-regulated energy businesses, providing essential energy infrastructure and services across multiple states.

Its operating activities include owning and operating generation assets across a portfolio that encompasses nuclear, natural gas, coal, hydroelectric and an expanding array of renewable resources, as well as battery storage and grid modernization projects.