Cullinan Associates Inc. Boosts Stock Position in Duke Energy Co. (NYSE:DUK)

Cullinan Associates Inc. grew its stake in Duke Energy Co. (NYSE:DUK) by 260.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,541 shares of the utilities provider’s stock after purchasing an additional 19,184 shares during the period. Cullinan Associates Inc.’s holdings in Duke Energy were worth $2,860,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new position in shares of Duke Energy in the 3rd quarter valued at about $29,000. Northwest Investment Counselors LLC acquired a new position in shares of Duke Energy during the 3rd quarter worth $30,000. CGC Financial Services LLC boosted its position in shares of Duke Energy by 366.7% in the 4th quarter. CGC Financial Services LLC now owns 308 shares of the utilities provider’s stock worth $33,000 after buying an additional 242 shares in the last quarter. Winch Advisory Services LLC grew its stake in Duke Energy by 332.9% in the 4th quarter. Winch Advisory Services LLC now owns 316 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 243 shares during the last quarter. Finally, Reston Wealth Management LLC purchased a new position in Duke Energy during the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Stock Performance

Shares of NYSE DUK opened at $113.21 on Tuesday. The stock’s fifty day simple moving average is $110.03 and its 200 day simple moving average is $112.57. The stock has a market capitalization of $87.45 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 2.76 and a beta of 0.50. Duke Energy Co. has a 52-week low of $90.09 and a 52-week high of $121.25. The company has a quick ratio of 0.45, a current ratio of 0.70 and a debt-to-equity ratio of 1.55.

Duke Energy (NYSE:DUK) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.11). Duke Energy had a net margin of 14.31% and a return on equity of 9.34%. The business had revenue of $8.16 billion during the quarter, compared to analyst estimates of $8.06 billion. During the same quarter in the prior year, the company earned $1.94 EPS. Duke Energy’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that Duke Energy Co. will post 5.91 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 14th will be issued a dividend of $1.045 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $4.18 annualized dividend and a dividend yield of 3.69%. Duke Energy’s dividend payout ratio is 76.84%.

Analyst Ratings Changes

DUK has been the subject of several research reports. Morgan Stanley cut their price objective on Duke Energy from $122.00 to $118.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Scotiabank raised their target price on shares of Duke Energy from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. BMO Capital Markets raised their price objective on Duke Energy from $119.00 to $124.00 and gave the stock an “outperform” rating in a report on Monday. KeyCorp lowered Duke Energy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 22nd. Finally, Mizuho raised Duke Energy from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $116.00 to $121.00 in a research report on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Duke Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.08.

Duke Energy 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.