CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Acquires Shares of 33,000 Duke Energy Co. (NYSE:DUK)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in shares of Duke Energy Co. (NYSE:DUK) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 33,000 shares of the utilities provider’s stock, valued at approximately $3,805,000.

A number of other institutional investors have also added to or reduced their stakes in DUK. Eastern Bank purchased a new stake in shares of Duke Energy during the third quarter valued at approximately $609,000. Sequoia Financial Advisors LLC raised its holdings in shares of Duke Energy by 19.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 28,436 shares of the utilities provider’s stock worth $3,279,000 after purchasing an additional 4,728 shares during the period. Mattern Wealth Management LLC purchased a new position in shares of Duke Energy during the 3rd quarter valued at $205,000. Traphagen Investment Advisors LLC grew its stake in shares of Duke Energy by 2.4% during the 3rd quarter. Traphagen Investment Advisors LLC now owns 4,867 shares of the utilities provider’s stock worth $561,000 after acquiring an additional 113 shares during the period. Finally, Calton & Associates Inc. purchased a new stake in Duke Energy during the third quarter valued at about $277,000. 65.31% of the stock is owned by institutional investors.

Duke Energy Trading Down 0.2 %

Shares of DUK traded down $0.27 during mid-day trading on Tuesday, reaching $119.62. The company’s stock had a trading volume of 1,225,351 shares, compared to its average volume of 3,044,278. The stock has a market cap of $92.32 billion, a PE ratio of 30.13, a P/E/G ratio of 3.06 and a beta of 0.46. The company’s fifty day moving average price is $115.13 and its two-hundred day moving average price is $106.98. Duke Energy Co. has a 52 week low of $85.79 and a 52 week high of $121.25. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.56.

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

Duke Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 3.49%. Duke Energy’s payout ratio is currently 105.03%.

Insiders Place Their Bets

In other news, EVP Louis E. Renjel sold 540 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $113.64, for a total transaction of $61,365.60. Following the completion of the sale, the executive vice president now directly owns 19,884 shares in the company, valued at approximately $2,259,617.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on DUK shares. KeyCorp lowered shares of Duke Energy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday. Barclays raised their price target on Duke Energy from $102.00 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Jefferies Financial Group began coverage on shares of Duke Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $138.00 price target on the stock. Morgan Stanley boosted their price objective on shares of Duke Energy from $114.00 to $120.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $135.00 price target on shares of Duke Energy in a report on Thursday, August 29th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $121.85.

Duke Energy Company 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.