Cullinan Associates Inc. Reduces Holdings in Duke Energy Co. (NYSE:DUK)

Cullinan Associates Inc. lessened its holdings in shares of Duke Energy Co. (NYSE:DUK) by 45.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 7,357 shares of the utilities provider’s stock after selling 6,082 shares during the quarter. Cullinan Associates Inc.’s holdings in Duke Energy were worth $884,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC boosted its holdings in shares of Duke Energy by 69.6% during the second quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 119 shares during the period. Olistico Wealth LLC bought a new position in Duke Energy during the second quarter worth about $30,000. Northwest Investment Counselors LLC acquired a new stake in Duke Energy during the third quarter valued at approximately $30,000. Cedar Wealth Management LLC raised its holdings in shares of Duke Energy by 101.2% in the 1st quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider’s stock worth $32,000 after buying an additional 169 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in Duke Energy in the first quarter valued at about $36,000. 65.31% of the stock is owned by institutional investors and hedge funds.

Duke Energy Stock Down 0.1 %

NYSE:DUK traded down $0.08 during mid-day trading on Friday, reaching $118.94. The company’s stock had a trading volume of 101,010 shares, compared to its average volume of 3,031,020. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $91.79 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 3.06 and a beta of 0.46. The stock has a fifty day moving average of $115.40 and a 200-day moving average of $107.25. Duke Energy Co. has a 1 year low of $86.61 and a 1 year high of $121.25.

Duke Energy (NYSE:DUK) last announced its earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.16. The firm had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $6.84 billion. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 EPS. Equities research analysts forecast that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $1.045 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.18 annualized dividend and a yield of 3.51%. Duke Energy’s dividend payout ratio is presently 105.03%.

Analyst Ratings Changes

Several research analysts have weighed in on DUK shares. Bank of America lifted their target price on Duke Energy from $116.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Mizuho raised Duke Energy from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $116.00 to $121.00 in a research note on Tuesday, October 15th. Scotiabank boosted their target price on shares of Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company boosted their target price on shares of Duke Energy from $110.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $135.00 target price on shares of Duke Energy in a research note on Thursday, August 29th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.85.

Insider Buying and Selling at Duke Energy

In other news, EVP Louis E. Renjel sold 540 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $113.64, for a total transaction of $61,365.60. Following the sale, the executive vice president now directly owns 19,884 shares in the company, valued at $2,259,617.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is owned by corporate insiders.

About Duke Energy

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.