Cullen Capital Management LLC Sells 29,636 Shares of Duke Energy Corporation $DUK

Cullen Capital Management LLC lessened its position in shares of Duke Energy Corporation (NYSE:DUK) by 1.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,019,977 shares of the utilities provider’s stock after selling 29,636 shares during the period. Duke Energy comprises 2.7% of Cullen Capital Management LLC’s investment portfolio, making the stock its 6th biggest holding. Cullen Capital Management LLC owned about 0.26% of Duke Energy worth $249,972,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Duke Energy by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 75,716,783 shares of the utilities provider’s stock worth $8,934,580,000 after acquiring an additional 1,154,783 shares in the last quarter. Geode Capital Management LLC lifted its stake in Duke Energy by 1.7% during the second quarter. Geode Capital Management LLC now owns 18,684,447 shares of the utilities provider’s stock worth $2,205,070,000 after purchasing an additional 319,001 shares during the last quarter. Laurel Wealth Advisors LLC boosted its holdings in Duke Energy by 11,417.7% in the second quarter. Laurel Wealth Advisors LLC now owns 17,668,789 shares of the utilities provider’s stock valued at $2,084,917,000 after purchasing an additional 17,515,383 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Duke Energy by 0.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 8,691,150 shares of the utilities provider’s stock valued at $1,025,244,000 after purchasing an additional 34,906 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in Duke Energy by 3.5% during the second quarter. Legal & General Group Plc now owns 6,338,489 shares of the utilities provider’s stock worth $747,942,000 after purchasing an additional 216,541 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Trading Up 0.4%

NYSE:DUK opened at $122.21 on Thursday. Duke Energy Corporation has a 12-month low of $110.51 and a 12-month high of $130.03. 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 stock’s 50 day simple moving average is $118.08 and its 200-day simple moving average is $121.58. The firm has a market cap of $95.04 billion, a P/E ratio of 19.22, a PEG ratio of 2.64 and a beta of 0.51.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.06. The firm had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.51 billion. Duke Energy had a return on equity of 9.98% and a net margin of 15.76%.The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the company earned $1.62 earnings per share. Equities analysts anticipate that Duke Energy Corporation will post 6.33 EPS for the current year.

Duke Energy Dividend Announcement

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

Insider Transactions at Duke Energy

In related news, EVP Robert Alexander Glenn sold 8,200 shares of the stock in a transaction dated 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 transaction, 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 document filed with the SEC, which is available at this link. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Duke Energy from $136.00 to $126.00 and set a “neutral” rating on the stock in a research report on Thursday, December 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Duke Energy in a report on Monday, December 29th. TD Cowen assumed coverage on Duke Energy in a report on Thursday, October 16th. They issued a “buy” rating and a $143.00 target price for the company. Jefferies Financial Group dropped their price target on Duke Energy from $126.00 to $125.00 and set a “hold” rating on the stock in a research note on Wednesday, January 14th. Finally, The Goldman Sachs Group lifted their price target on Duke Energy from $138.00 to $141.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.50.

About Duke Energy

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.