35,000 Shares in Duke Energy Corporation $DUK Purchased by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in shares of Duke Energy Corporation (NYSE:DUK) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,000 shares of the utilities provider’s stock, valued at approximately $4,583,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Duke Energy by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider’s stock worth $9,172,709,000 after purchasing an additional 1,957,592 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Duke Energy by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 19,292,633 shares of the utilities provider’s stock valued at $2,266,675,000 after buying an additional 230,375 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Duke Energy by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,931,127 shares of the utilities provider’s stock worth $1,046,818,000 after buying an additional 58,375 shares during the last quarter. Franklin Resources Inc. raised its position in Duke Energy by 13.1% during the fourth quarter. Franklin Resources Inc. now owns 8,236,893 shares of the utilities provider’s stock worth $965,446,000 after acquiring an additional 954,907 shares in the last quarter. Finally, Northern Trust Corp raised its position in Duke Energy by 0.4% during the third quarter. Northern Trust Corp now owns 7,758,700 shares of the utilities provider’s stock worth $960,139,000 after acquiring an additional 31,703 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Insider Buying and Selling

In other Duke Energy news, CEO Harry K. Sideris sold 20,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer directly owned 96,102 shares of the company’s stock, valued at $11,952,205.74. This represents a 17.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Louis E. Renjel sold 3,500 shares of the stock in a transaction 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 in the company, valued at $2,680,087.25. The trade was a 14.05% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is currently owned by company insiders.

Duke Energy Price Performance

Shares of DUK opened at $129.44 on Monday. The company’s 50-day moving average is $125.06 and its 200-day moving average is $124.84. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.66 and a quick ratio of 0.44. The firm has a market capitalization of $100.91 billion, a PE ratio of 19.82 and a beta of 0.38. Duke Energy Corporation has a fifty-two week low of $113.89 and a fifty-two week high of $134.49.

Duke Energy (NYSE:DUK) last announced its earnings results on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.87 by $0.06. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the previous year, the firm posted $1.76 EPS. Duke Energy’s revenue was up 11.3% compared to the same quarter last year. Equities analysts forecast that Duke Energy Corporation will post 6.71 EPS for the current year.

Duke Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th were given a $1.065 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.26 annualized dividend and a dividend yield of 3.3%. Duke Energy’s dividend payout ratio is presently 65.24%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DUK. Evercore lifted their price objective on shares of Duke Energy from $139.00 to $140.00 in a research report on Monday, May 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Duke Energy in a report on Monday, May 4th. JPMorgan Chase & Co. reduced their price target on Duke Energy from $139.00 to $136.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Jefferies Financial Group lowered their price target on Duke Energy from $143.00 to $138.00 in a research report on Monday, May 11th. Finally, BMO Capital Markets dropped their price objective on Duke Energy from $139.00 to $138.00 in a research note on Wednesday, May 6th. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $138.33.

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.