SouthState Corp Has $6.57 Million Holdings in Duke Energy Co. (NYSE:DUK)

SouthState Corp trimmed its position in shares of Duke Energy Co. (NYSE:DUK) by 2.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,513 shares of the utilities provider’s stock after selling 1,474 shares during the period. SouthState Corp’s holdings in Duke Energy were worth $6,566,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in shares of Duke Energy by 4,163.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 882,552 shares of the utilities provider’s stock valued at $85,352,000 after purchasing an additional 861,854 shares in the last quarter. Capital Research Global Investors boosted its stake in Duke Energy by 4.8% in the fourth quarter. Capital Research Global Investors now owns 11,141,020 shares of the utilities provider’s stock valued at $1,081,125,000 after buying an additional 509,039 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC bought a new position in Duke Energy in the fourth quarter valued at about $41,874,000. Morningstar Investment Services LLC raised its stake in Duke Energy by 96.1% during the fourth quarter. Morningstar Investment Services LLC now owns 789,612 shares of the utilities provider’s stock worth $76,529,000 after acquiring an additional 387,038 shares in the last quarter. Finally, BROOKFIELD Corp ON bought a new position in shares of Duke Energy in the first quarter worth about $36,278,000. 65.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DUK has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Duke Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Barclays upped their price target on shares of Duke Energy from $99.00 to $102.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Evercore ISI raised their price objective on Duke Energy from $108.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $135.00 target price on shares of Duke Energy in a report on Thursday, August 29th. Finally, The Goldman Sachs Group lifted their price target on Duke Energy from $102.00 to $113.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $113.92.

Duke Energy Trading Down 0.3 %

Shares of Duke Energy stock traded down $0.39 during midday trading on Thursday, reaching $116.67. The company had a trading volume of 656,391 shares, compared to its average volume of 2,938,781. The firm has a market cap of $90.04 billion, a PE ratio of 29.41, a P/E/G ratio of 3.13 and a beta of 0.47. The stock has a fifty day moving average price of $108.86 and a 200 day moving average price of $101.82. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.81 and a quick ratio of 0.53. Duke Energy Co. has a fifty-two week low of $83.06 and a fifty-two week high of $118.11.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $1.18 EPS 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 company had revenue of $7.17 billion for the quarter, compared to analyst estimates of $6.84 billion. During the same period in the prior year, the firm posted $0.91 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis. On average, equities analysts anticipate that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be paid a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.58%. This is an increase from Duke Energy’s previous quarterly dividend of $1.03. The ex-dividend date is Friday, August 16th. Duke Energy’s payout ratio is currently 105.03%.

Insider Activity at Duke Energy

In other Duke Energy news, EVP Louis E. Renjel sold 540 shares of Duke Energy stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $113.64, for a total value of $61,365.60. Following the completion of the sale, the executive vice president now directly owns 19,884 shares in the company, valued at $2,259,617.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.10% of the stock is owned by corporate insiders.

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.