Duke Energy Corporation $DUK is Cullen Capital Management LLC’s 5th Largest Position

Cullen Capital Management LLC lowered its stake in shares of Duke Energy Corporation (NYSE:DUK) by 3.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,049,613 shares of the utilities provider’s stock after selling 66,034 shares during the period. Duke Energy makes up approximately 2.8% of Cullen Capital Management LLC’s portfolio, making the stock its 5th biggest holding. Cullen Capital Management LLC owned approximately 0.26% of Duke Energy worth $241,854,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in DUK. Corient Private Wealth LLC boosted its holdings in Duke Energy by 1.1% in the second quarter. Corient Private Wealth LLC now owns 323,869 shares of the utilities provider’s stock valued at $38,217,000 after acquiring an additional 3,451 shares during the last quarter. National Wealth Management Group LLC purchased a new position in shares of Duke Energy in the 2nd quarter worth about $585,000. CacheTech Inc. acquired a new position in shares of Duke Energy in the 2nd quarter valued at about $392,000. Adams Wealth Management purchased a new stake in shares of Duke Energy during the 2nd quarter worth about $392,000. Finally, Caldwell Trust Co acquired a new stake in Duke Energy during the 2nd quarter worth approximately $3,900,000. 65.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DUK. The Goldman Sachs Group boosted their price objective on shares of Duke Energy from $138.00 to $141.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Weiss Ratings restated a “buy (b)” rating on shares of Duke Energy in a report on Monday, December 8th. BMO Capital Markets lowered their price target on Duke Energy from $138.00 to $136.00 in a report on Monday, November 10th. Jefferies Financial Group reduced their price objective on Duke Energy from $138.00 to $126.00 and set a “hold” rating on the stock in a research note on Monday, December 8th. Finally, Mizuho increased their target price on Duke Energy from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell 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 $137.06.

Duke Energy Stock Performance

Shares of DUK stock opened at $115.21 on Monday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.63 and a quick ratio of 0.40. The company’s fifty day moving average price is $123.37 and its two-hundred day moving average price is $121.23. The firm has a market capitalization of $89.60 billion, a P/E ratio of 18.12, a P/E/G ratio of 2.66 and a beta of 0.49. Duke Energy Corporation has a 12 month low of $105.20 and a 12 month high of $130.03.

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

Duke Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be given a dividend of $1.065 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.7%. Duke Energy’s dividend payout ratio (DPR) is presently 66.98%.

Insider Activity

In related news, EVP Robert Alexander Glenn sold 8,200 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $123.80, for a total value of $1,015,160.00. Following the sale, the executive vice president directly owned 11,367 shares of the company’s stock, valued at $1,407,234.60. This represents a 41.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

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.