Cullinan Associates Inc. Has $4.68 Million Position in Duke Energy Corporation $DUK

Cullinan Associates Inc. increased its holdings in shares of Duke Energy Corporation (NYSE:DUK) by 20.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,953 shares of the utilities provider’s stock after purchasing an additional 6,265 shares during the period. Cullinan Associates Inc.’s holdings in Duke Energy were worth $4,678,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Greenleaf Trust raised its holdings in Duke Energy by 2.0% during the 2nd quarter. Greenleaf Trust now owns 20,685 shares of the utilities provider’s stock worth $2,618,000 after buying an additional 408 shares during the period. New Mexico Educational Retirement Board increased its position in shares of Duke Energy by 7.8% during the second quarter. New Mexico Educational Retirement Board now owns 38,760 shares of the utilities provider’s stock worth $4,906,000 after acquiring an additional 2,800 shares in the last quarter. Mufg Securities Americas Inc. increased its position in shares of Duke Energy by 9.1% during the second quarter. Mufg Securities Americas Inc. now owns 23,480 shares of the utilities provider’s stock worth $2,972,000 after acquiring an additional 1,962 shares in the last quarter. Ferguson Wellman Capital Management Inc. raised its holdings in shares of Duke Energy by 22.1% during the second quarter. Ferguson Wellman Capital Management Inc. now owns 4,695 shares of the utilities provider’s stock worth $594,000 after acquiring an additional 849 shares during the period. Finally, Field & Main Bank acquired a new stake in shares of Duke Energy during the second quarter worth $1,178,000. 65.31% of the stock is owned by institutional investors.

Duke Energy Stock Down 0.5%

Shares of DUK stock opened at $120.20 on Friday. The firm’s fifty day moving average price is $125.32 and its two-hundred day moving average price is $126.61. The company has a current ratio of 0.66, a quick ratio of 0.43 and a debt-to-equity ratio of 1.47. Duke Energy Corporation has a 1 year low of $113.89 and a 1 year high of $134.49. The firm has a market capitalization of $93.72 billion, a P/E ratio of 18.05, a PEG ratio of 2.81 and a beta of 0.38.

Duke Energy (NYSE:DUK) last announced its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.13. The company had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.66 billion. Duke Energy had a return on equity of 9.78% and a net margin of 15.78%.Duke Energy’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 EPS. On average, equities analysts predict that Duke Energy Corporation will post 6.72 EPS for the current fiscal year.

Duke Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th will be given a dividend of $1.085 per share. This is a positive change from Duke Energy’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend is Friday, August 14th. This represents a $4.34 annualized dividend and a dividend yield of 3.6%. Duke Energy’s payout ratio is presently 65.17%.

Key Stories Impacting Duke Energy

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

• Positive Sentiment: Duke Energy restored power to customers in Greenville and Spartanburg counties after severe thunderstorms. The relatively quick restoration limits the potential financial and reputational impact of the outages. Power restored after storms in Spartanburg County
• Neutral Sentiment: Bank of America’s view that dividend-paying stocks may provide stability in choppy markets could be generally supportive for regulated utilities such as Duke, although the report’s supplied details do not identify a specific recommendation for DUK. BofA names dividend stocks for stability
• Neutral Sentiment: An analysis describes DUK as potentially undervalued by about 13%, but says regulatory proceedings involving PJM and Florida tariff treatment for large customers could affect future cost allocation between shareholders and customers. The potential valuation upside is therefore balanced by policy risk. Duke Energy could be undervalued as regulatory questions build
• Negative Sentiment: Duke’s newly issued equity units may strengthen funding flexibility, but the financing also raises concerns about additional issuance and potential dilution for existing shareholders. Duke Energy newly issued equity units
• Negative Sentiment: Residents and organizers are protesting Duke’s proposed Davidson-Davie gas complex, while a separate petition effort in St. Petersburg seeks to place an anti-Duke measure on the ballot. Opposition could delay projects, increase compliance costs or create additional political risk. Debate over Davie-Davidson Energy Complex

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Mizuho set a $136.00 target price on shares of Duke Energy in a research note on Wednesday, August 5th. Evercore boosted their price target on Duke Energy from $139.00 to $140.00 in a report on Monday, May 11th. Barclays reduced their price objective on Duke Energy from $140.00 to $132.00 and set an “overweight” rating for the company in a research report on Wednesday, August 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Duke Energy in a report on Friday, July 31st. Finally, BTIG Research restated a “buy” rating on shares of Duke Energy in a research note on Thursday, July 23rd. Ten 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 stock presently has an average rating of “Moderate Buy” and an average price target of $137.94.

Duke Energy 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.