Pathway Financial Advisers LLC Has $781.50 Million Stock Holdings in Duke Energy Co. (NYSE:DUK)

26 Oct 2024, 16:32 by Sarita Garza · The Markets Daily

Pathway Financial Advisers LLC raised its holdings in Duke Energy Co. (NYSE:DUK – Free Report) by 11,471.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,777,973 shares of the utilities provider’s stock after buying an additional 6,719,398 shares during the quarter. Duke Energy accounts for approximately 5.0% of Pathway Financial Advisers LLC’s holdings, making the stock its 8th biggest holding. Pathway Financial Advisers LLC owned approximately 0.88% of Duke Energy worth $781,500,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Duality Advisers LP raised its stake in Duke Energy by 57.8% during the first quarter. Duality Advisers LP now owns 27,071 shares of the utilities provider’s stock worth $2,618,000 after acquiring an additional 9,917 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in Duke Energy by 63.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 44,710 shares of the utilities provider’s stock valued at $4,324,000 after buying an additional 17,420 shares in the last quarter. Janus Henderson Group PLC grew its stake in Duke Energy by 9.4% during the first quarter. Janus Henderson Group PLC now owns 108,819 shares of the utilities provider’s stock worth $10,520,000 after buying an additional 9,334 shares during the last quarter. Goodman Advisory Group LLC bought a new position in shares of Duke Energy in the second quarter valued at approximately $2,888,000. Finally, Chapin Davis Inc. increased its holdings in Duke Energy by 1.8% during the 1st quarter. Chapin Davis Inc. now owns 7,675 shares of the utilities provider’s stock valued at $742,000 after purchasing an additional 133 shares in the last quarter. 65.31% of the stock is owned by institutional investors.

Duke Energy Stock Down 1.5 %

Shares of DUK stock traded down $1.81 during trading hours on Friday, hitting $117.21. 2,406,324 shares of the company were exchanged, compared to its average volume of 3,042,156. The company has a market capitalization of $90.46 billion, a PE ratio of 29.45, a PEG ratio of 3.06 and a beta of 0.46. Duke Energy Co. has a 52 week low of $86.61 and a 52 week high of $121.25. The business has a 50 day moving average of $115.51 and a two-hundred day moving average of $107.33. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.56.

Duke Energy (NYSE:DUK – Get Free Report) last released its earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. The business had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $6.84 billion. During the same quarter last year, the firm earned $0.91 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts anticipate that Duke Energy Co. will post 5.97 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $1.045 per share. The ex-dividend date is Friday, November 15th. This represents a $4.18 dividend on an annualized basis and a yield of 3.57%. Duke Energy’s payout ratio is 105.03%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DUK. Wells Fargo & Company increased their target price on Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. BMO Capital Markets upped their target price on shares of Duke Energy from $120.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Evercore ISI boosted their price objective on shares of Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Bank of America boosted their target price on Duke Energy from $116.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, Mizuho upgraded Duke Energy from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $116.00 to $121.00 in a research report on Tuesday, October 15th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.85.

View Our Latest Analysis on DUK

Insiders Place Their Bets

In related news, EVP Louis E. Renjel sold 540 shares of Duke Energy stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $113.64, for a total transaction of $61,365.60. Following the completion of the transaction, the executive vice president now owns 19,884 shares in the company, valued at approximately $2,259,617.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.10% of the company’s stock.

Duke Energy Company Profile

(Free Report)