Cullen Capital Management LLC Has $223.49 Million Stock Holdings in Duke Energy Corporation $DUK

Cullen Capital Management LLC cut its position in Duke Energy Corporation (NYSE:DUK) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,906,717 shares of the utilities provider’s stock after selling 113,260 shares during the period. Duke Energy accounts for approximately 2.4% of Cullen Capital Management LLC’s investment portfolio, making the stock its 11th biggest holding. Cullen Capital Management LLC’s holdings in Duke Energy were worth $223,486,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Dorato Capital Management acquired a new stake in shares of Duke Energy in the 4th quarter valued at about $26,000. Evolution Wealth Management Inc. grew its stake in shares of Duke Energy by 1,111.1% in the 4th quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock valued at $26,000 after buying an additional 200 shares during the period. KERR FINANCIAL PLANNING Corp bought a new position in Duke Energy in the 3rd quarter valued at about $27,000. Triumph Capital Management lifted its position in Duke Energy by 68.6% in the 4th quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 94 shares in the last quarter. Finally, Lodestone Wealth Management LLC bought a new position in Duke Energy in the 4th quarter valued at about $30,000. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Duke Energy

Here are the key news stories impacting Duke Energy this week:

• Positive Sentiment: Analysts and market commentary are highlighting Duke Energy as a defensive, low-volatility utility pick as inflation jumps and oil prices surge, which can draw investors toward stable dividend names like DUK. 3 Low-Beta Utility Stocks to Buy as Inflation Jumps to Three-Year High
• Positive Sentiment: A Seeking Alpha piece argues Duke Energy could keep rising, reinforcing bullish sentiment around the company’s earnings outlook, utility stability, and rate-driven growth profile. Duke Energy: Why This Utility Could Keep Rising
• Positive Sentiment: Duke Energy received up to $96 million in federal coal plant grants, which could help offset refurbishment costs and support grid reliability without passing as much expense to customers. How Investors Are Reacting To Duke Energy (DUK) Winning US$96 Million In Federal Coal Plant Grants
• Positive Sentiment: Brokerage coverage remains constructive, with Duke Energy carrying an average “Moderate Buy” recommendation. Duke Energy Corporation (NYSE:DUK) Given Average Recommendation of “Moderate Buy” by Brokerages

Duke Energy Trading Up 0.6%

NYSE:DUK opened at $124.91 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $97.38 billion, a PE ratio of 19.13 and a beta of 0.39. The firm’s 50 day moving average is $126.16 and its 200 day moving average is $124.01. Duke Energy Corporation has a 12 month low of $113.66 and a 12 month high of $134.49.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.06. The company had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. Duke Energy’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.76 EPS. Sell-side analysts expect that Duke Energy Corporation will post 6.71 earnings per share for the current year.

Duke Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Friday, May 15th will be issued a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, May 15th. Duke Energy’s payout ratio is 65.24%.

Insider Buying and Selling

In related news, CEO Louis E. Renjel sold 3,500 shares of Duke Energy stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $125.15, for a total value of $438,025.00. Following the sale, the chief executive officer owned 21,415 shares of the company’s stock, valued at approximately $2,680,087.25. The trade was a 14.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Harry K. Sideris sold 20,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the sale, the chief executive officer directly owned 96,102 shares in the company, valued at $11,952,205.74. The trade was a 17.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on DUK shares. Wall Street Zen raised shares of Duke Energy from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. BTIG Research reiterated a “buy” rating and set a $139.00 price target on shares of Duke Energy in a report on Tuesday, June 2nd. Truist Financial decreased their price target on Duke Energy from $142.00 to $137.00 and set a “buy” rating for the company in a report on Monday, May 18th. Morgan Stanley dropped their target price on shares of Duke Energy from $141.00 to $132.00 in a research report on Thursday, May 21st. Finally, Jefferies Financial Group cut their target price on Duke Energy from $143.00 to $138.00 in a research note on Monday, May 11th. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $138.93.

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.