CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Acquires New Position in Duke Energy Co. (NYSE:DUK)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in Duke Energy Co. (NYSE:DUK) during the 3rd quarter, HoldingsChannel reports. The fund bought 33,000 shares of the utilities provider’s stock, valued at approximately $3,805,000.

A number of other institutional investors and hedge funds have also modified their holdings of DUK. Northwest Investment Counselors LLC purchased a new stake in shares of Duke Energy during the 1st quarter valued at about $25,000. Fortitude Family Office LLC lifted its holdings in Duke Energy by 69.6% in the second quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 119 shares during the period. Riverview Trust Co purchased a new position in Duke Energy in the first quarter worth about $30,000. Olistico Wealth LLC bought a new stake in shares of Duke Energy during the 2nd quarter valued at about $30,000. Finally, Cedar Wealth Management LLC increased its position in shares of Duke Energy by 101.2% during the 1st quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 169 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.

Duke Energy Trading Down 0.2 %

DUK stock traded down $0.27 during mid-day trading on Tuesday, reaching $119.62. 1,225,351 shares of the stock traded hands, compared to its average volume of 3,044,278. The business has a 50-day moving average price of $115.13 and a two-hundred day moving average price of $106.98. The stock has a market capitalization of $92.32 billion, a PE ratio of 30.13, a PEG ratio of 3.06 and a beta of 0.46. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.53 and a current ratio of 0.81. Duke Energy Co. has a one year low of $85.79 and a one year high of $121.25.

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

Duke Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $1.045 per share. The ex-dividend date is Friday, November 15th. This represents a $4.18 annualized dividend and a dividend yield of 3.49%. Duke Energy’s dividend payout ratio (DPR) is 105.03%.

Insider Activity

In related news, EVP Louis E. Renjel sold 540 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $113.64, for a total value of $61,365.60. Following the transaction, the executive vice president now owns 19,884 shares of the company’s stock, valued at $2,259,617.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Evercore ISI upped their price target on shares of Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. KeyCorp downgraded shares of Duke Energy from an “overweight” rating to a “sector weight” rating in a report on Tuesday. The Goldman Sachs Group boosted their price objective on Duke Energy from $102.00 to $113.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Finally, Scotiabank increased their target price on Duke Energy from $104.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.85.

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.