Cullen Capital Management LLC Sells 113,260 Shares of Duke Energy Corporation $DUK

Key Points

• Cullen Capital Management reduced its Duke Energy stake by 5.6% in the fourth quarter, selling 113,260 shares and leaving it with 1.91 million shares valued at about $223.5 million. Duke Energy remains one of the fund’s larger holdings, accounting for 2.4% of its portfolio.
• Duke Energy reported better-than-expected quarterly results, posting earnings of $1.93 per share versus the $1.87 estimate and revenue of $9.18 billion versus $8.44 billion expected. Revenue also rose 11.3% year over year.
• The company declared a quarterly dividend of $1.065 per share, equivalent to $4.26 annually and a 3.4% yield, with payment scheduled for June 16. Wall Street sentiment remains constructive overall, with a consensus “Moderate Buy” rating and a $138.93 price target.

Cullen Capital Management LLC trimmed its position in Duke Energy Corporation (NYSE:DUK - Free Report) by 5.6% in the fourth quarter, according to its most recent filing with the SEC. The fund 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 position. Cullen Capital Management LLC owned 0.25% of Duke Energy worth $223,486,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DUK. Brighton Jones LLC lifted its stake in shares of Duke Energy by 11.6% in the 4th quarter. Brighton Jones LLC now owns 6,754 shares of the utilities provider's stock valued at $728,000 after acquiring an additional 700 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Duke Energy by 19.6% in the 1st quarter. Empowered Funds LLC now owns 23,162 shares of the utilities provider's stock valued at $2,825,000 after acquiring an additional 3,797 shares during the last quarter. Schnieders Capital Management LLC. lifted its stake in shares of Duke Energy by 1.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 31,238 shares of the utilities provider's stock valued at $3,686,000 after acquiring an additional 315 shares during the last quarter. AXA S.A. lifted its stake in shares of Duke Energy by 523.4% in the 2nd quarter. AXA S.A. now owns 42,233 shares of the utilities provider's stock valued at $4,983,000 after acquiring an additional 35,458 shares during the last quarter. Finally, Nebula Research & Development LLC bought a new position in shares of Duke Energy in the 2nd quarter valued at $954,000. 65.31% of the stock is currently owned by institutional investors.

Duke Energy Stock Performance

Shares of Duke Energy stock 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 business has a 50-day moving average price of $126.16 and a two-hundred day moving average price of $124.01. Duke Energy Corporation has a 1-year low of $113.66 and a 1-year high of $134.49. The company has a market cap of $97.38 billion, a P/E ratio of 19.13 and a beta of 0.39.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.87 by $0.06. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The firm had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same period last year, the business posted $1.76 EPS. The business's revenue was up 11.3% compared to the same quarter last year. As a group, analysts anticipate that Duke Energy Corporation will post 6.71 EPS for the current year.

Duke Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th will be issued a dividend of $1.065 per share. This represents a $4.26 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Friday, May 15th. Duke Energy's dividend payout ratio (DPR) is presently 65.24%.

Trending Headlines about 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

Wall Street Analyst Weigh In

DUK has been the subject of a number of recent research reports. Capitol Sec Mgt downgraded Duke Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, April 10th. Truist Financial decreased their price objective on Duke Energy from $142.00 to $137.00 and set a "buy" rating for the company in a report on Monday, May 18th. Wall Street Zen upgraded Duke Energy from a "sell" rating to a "hold" rating in a report on Saturday, March 28th. Wells Fargo & Company increased their price objective on Duke Energy from $135.00 to $136.00 and gave the company an "equal weight" rating in a report on Monday, April 20th. Finally, UBS Group decreased their price objective on Duke Energy from $137.00 to $135.00 in a report on Monday, May 11th. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $138.93.

Insider Transactions at Duke Energy

In other Duke Energy news, CEO Harry K. Sideris sold 20,000 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the completion of the sale, the chief executive officer directly owned 96,102 shares in the company, valued at approximately $11,952,205.74. This trade represents a 17.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Louis E. Renjel sold 3,500 shares of the stock in a transaction dated Monday, May 11th. The stock was 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.12% of the company's stock.

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.

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