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

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in Duke Energy Co. (NYSE:DUK - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 33,000 shares of the utilities provider's stock, valued at approximately $3,805,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of Duke Energy by 3.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 435,157 shares of the utilities provider's stock worth $42,084,000 after purchasing an additional 13,406 shares in the last quarter. Duality Advisers LP boosted its stake in Duke Energy by 57.8% during the first quarter. Duality Advisers LP now owns 27,071 shares of the utilities provider's stock valued at $2,618,000 after buying an additional 9,917 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Duke Energy by 63.8% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 44,710 shares of the utilities provider's stock valued at $4,324,000 after buying an additional 17,420 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Duke Energy by 9.4% during the first quarter. Janus Henderson Group PLC now owns 108,819 shares of the utilities provider's stock valued at $10,520,000 after buying an additional 9,334 shares in the last quarter. Finally, Goodman Advisory Group LLC bought a new position in Duke Energy during the second quarter valued at about $2,888,000. Institutional investors own 65.31% of the company's stock.

Insider Buying and Selling

In related news, EVP Louis E. Renjel sold 540 shares of the business's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $113.64, for a total value 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Scotiabank raised their target price on Duke Energy from $104.00 to $113.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 20th. Mizuho raised Duke Energy from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $116.00 to $121.00 in a research note on Tuesday, October 15th. Bank of America lifted their price target on Duke Energy from $116.00 to $118.00 and gave the stock a "neutral" rating in a research note on Thursday, August 29th. BMO Capital Markets lifted their price target on Duke Energy from $120.00 to $126.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 18th. Finally, Jefferies Financial Group started coverage on Duke Energy in a research note on Thursday, September 19th. They issued a "buy" rating and a $138.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $121.85.

Duke Energy Stock Down 0.0 %

Shares of NYSE DUK traded down $0.01 during trading hours on Tuesday, hitting $119.88. The stock had a trading volume of 2,854,901 shares, compared to its average volume of 3,052,693. The company has a market capitalization of $92.52 billion, a P/E ratio of 30.12, a P/E/G ratio of 3.06 and a beta of 0.46. The firm's 50-day moving average price is $115.25 and its two-hundred day moving average price is $107.15. Duke Energy Co. has a 52 week low of $85.79 and a 52 week high of $121.25. 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 (NYSE:DUK - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 EPS for the quarter, beating 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 business had revenue of $7.17 billion during the quarter, compared to analysts' expectations of $6.84 billion. During the same quarter in the previous year, the business posted $0.91 EPS. The firm's quarterly revenue was up 9.0% compared to the same quarter last year. Analysts anticipate that Duke Energy Co. will post 5.97 EPS for the current fiscal year.

Duke Energy Dividend Announcement

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

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.