Duke Energy Corporation $DUK Shares Sold by Cullen Capital Management LLC

Cullen Capital Management LLC cut its stake in shares of Duke Energy Corporation (NYSE:DUK) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,019,977 shares of the utilities provider’s stock after selling 29,636 shares during the quarter. Duke Energy comprises about 2.7% of Cullen Capital Management LLC’s investment portfolio, making the stock its 6th largest position. Cullen Capital Management LLC’s holdings in Duke Energy were worth $249,972,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Duke Energy by 67.4% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 51,448 shares of the utilities provider’s stock worth $6,367,000 after buying an additional 20,714 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Duke Energy by 1.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 5,716 shares of the utilities provider’s stock valued at $707,000 after acquiring an additional 107 shares during the period. Machina Capital S.A.S. purchased a new stake in shares of Duke Energy during the 3rd quarter worth approximately $1,891,000. J.W. Cole Advisors Inc. grew its holdings in shares of Duke Energy by 2.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 90,107 shares of the utilities provider’s stock worth $11,151,000 after acquiring an additional 1,789 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in Duke Energy by 49.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,381 shares of the utilities provider’s stock valued at $418,000 after purchasing an additional 1,117 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Insider Buying and Selling at Duke Energy

In other news, EVP Robert Alexander Glenn sold 8,200 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $123.80, for a total transaction of $1,015,160.00. Following the completion of the sale, the executive vice president directly owned 11,367 shares of the company’s stock, valued at $1,407,234.60. The trade was a 41.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by company insiders.

Duke Energy Stock Performance

NYSE DUK opened at $122.21 on Thursday. The company has a current ratio of 0.63, a quick ratio of 0.40 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $95.04 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 2.64 and a beta of 0.51. The business’s 50-day moving average price is $118.08 and its 200 day moving average price is $121.58. Duke Energy Corporation has a twelve month low of $110.51 and a twelve month high of $130.03.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. Duke Energy had a net margin of 15.76% and a return on equity of 9.98%. The company had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter in the prior year, the company posted $1.62 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, research analysts predict that Duke Energy Corporation will post 6.33 earnings per share for the current year.

Duke Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 13th will be paid a dividend of $1.065 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $4.26 dividend on an annualized basis and a yield of 3.5%. Duke Energy’s dividend payout ratio (DPR) is currently 66.98%.

Analyst Ratings Changes

Several analysts have weighed in on DUK shares. Mizuho upped their target price on Duke Energy from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Duke Energy in a research note on Monday, December 29th. Morgan Stanley restated an “underperform” rating and set a $130.00 target price on shares of Duke Energy in a research report on Wednesday, January 21st. The Goldman Sachs Group upped their price target on shares of Duke Energy from $138.00 to $141.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Finally, TD Cowen initiated coverage on shares of Duke Energy in a research note on Thursday, October 16th. They set a “buy” rating and a $143.00 price objective for the company. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.50.

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.