Cullinan Associates Inc. Lowers Position in Duke Energy Corporation $DUK

Cullinan Associates Inc. lessened its stake in Duke Energy Corporation (NYSE:DUK) by 2.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 24,244 shares of the utilities provider’s stock after selling 668 shares during the quarter. Cullinan Associates Inc.’s holdings in Duke Energy were worth $2,861,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Duke Energy by 2.3% in the first quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider’s stock worth $9,094,327,000 after purchasing an additional 1,676,061 shares during the last quarter. GQG Partners LLC increased its position in Duke Energy by 17,880.0% in the first quarter. GQG Partners LLC now owns 10,249,508 shares of the utilities provider’s stock worth $1,250,133,000 after purchasing an additional 10,192,503 shares during the last quarter. Royal Bank of Canada increased its position in Duke Energy by 4.9% in the first quarter. Royal Bank of Canada now owns 8,921,517 shares of the utilities provider’s stock worth $1,088,158,000 after purchasing an additional 418,014 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Duke Energy by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 8,656,244 shares of the utilities provider’s stock worth $1,055,087,000 after purchasing an additional 93,699 shares during the last quarter. Finally, Northern Trust Corp increased its position in Duke Energy by 1.9% during the first quarter. Northern Trust Corp now owns 8,153,615 shares of the utilities provider’s stock valued at $994,496,000 after acquiring an additional 152,542 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.

Insider Activity

In other Duke Energy news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $124.26, for a total transaction of $832,542.00. Following the completion of the sale, the executive vice president directly owned 46,422 shares of the company’s stock, valued at approximately $5,768,397.72. This represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Bonnie B. Titone sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total transaction of $248,760.00. Following the transaction, the senior vice president owned 19,608 shares in the company, valued at approximately $2,438,843.04. This trade represents a 9.26% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Duke Energy Stock Up 1.7%

NYSE:DUK opened at $123.58 on Monday. Duke Energy Corporation has a 1-year low of $105.20 and a 1-year high of $127.85. The company has a 50-day moving average of $122.58 and a 200 day moving average of $119.61. The firm has a market cap of $96.10 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 2.98 and a beta of 0.44. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.66 and a quick ratio of 0.42.

Duke Energy (NYSE:DUK) last released its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.04). Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The business had revenue of $7.51 billion during the quarter, compared to analysts’ expectations of $7.07 billion. During the same period last year, the company earned $1.18 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. As a group, research analysts anticipate that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th were given a dividend of $1.065 per share. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Duke Energy’s previous quarterly dividend of $1.05. This represents a $4.26 annualized dividend and a dividend yield of 3.4%. Duke Energy’s payout ratio is currently 69.27%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DUK. Scotiabank set a $137.00 price objective on shares of Duke Energy and gave the company a “sector outperform” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Duke Energy from $127.00 to $131.00 and gave the company a “neutral” rating in a research report on Thursday, August 21st. Raymond James Financial began coverage on shares of Duke Energy in a research report on Friday, June 13th. They set a “market perform” rating on the stock. Jefferies Financial Group cut shares of Duke Energy from a “buy” rating to a “hold” rating and cut their price objective for the company from $141.00 to $134.00 in a research report on Friday, September 26th. Finally, BMO Capital Markets boosted their price objective on shares of Duke Energy from $131.00 to $132.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Duke Energy currently has an average rating of “Moderate Buy” and a consensus target price of $132.25.

Duke Energy Company 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.