Duke Energy Corporation’s (DUK) “Buy” Rating Reiterated at Royal Bank Of Canada
Royal Bank Of Canada restated their buy rating on shares of Duke Energy Corporation (NYSE:DUK) in a research report sent to investors on Tuesday. Royal Bank Of Canada currently has a $87.00 target price on the utilities provider’s stock.
DUK has been the subject of several other research reports. BidaskClub upgraded shares of Duke Energy Corporation from a sell rating to a hold rating in a report on Monday, July 24th. Zacks Investment Research upgraded shares of Duke Energy Corporation from a sell rating to a hold rating in a report on Tuesday, June 13th. BMO Capital Markets reiterated a hold rating and issued a $87.00 price target (up previously from $85.00) on shares of Duke Energy Corporation in a report on Friday, August 4th. Deutsche Bank AG reiterated a hold rating and issued a $84.00 price target (up previously from $83.00) on shares of Duke Energy Corporation in a report on Wednesday, August 9th. Finally, Morgan Stanley upped their price target on shares of Duke Energy Corporation from $87.00 to $89.00 and gave the company an equal weight rating in a report on Thursday, August 10th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $82.91.
Duke Energy Corporation (NYSE:DUK) opened at 87.09 on Tuesday. The firm has a market cap of $60.96 billion, a price-to-earnings ratio of 25.80 and a beta of 0.25. The company has a 50-day moving average of $85.88 and a 200-day moving average of $83.82. Duke Energy Corporation has a 1-year low of $72.34 and a 1-year high of $87.75.
Duke Energy Corporation (NYSE:DUK) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.01 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.01. The company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.76 billion. Duke Energy Corporation had a net margin of 9.89% and a return on equity of 7.72%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.07 earnings per share. Analysts predict that Duke Energy Corporation will post $4.60 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, August 18th will be given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 4.09%. This is a positive change from Duke Energy Corporation’s previous quarterly dividend of $0.86. The ex-dividend date is Wednesday, August 16th. Duke Energy Corporation’s dividend payout ratio (DPR) is currently 105.64%.
In related news, EVP Douglas F. Esamann sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $86.22, for a total transaction of $431,100.00. Following the transaction, the executive vice president now directly owns 50,316 shares of the company’s stock, valued at $4,338,245.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in DUK. Hennessy Advisors Inc. raised its position in Duke Energy Corporation by 1.5% in the first quarter. Hennessy Advisors Inc. now owns 379,737 shares of the utilities provider’s stock worth $31,142,000 after buying an additional 5,500 shares in the last quarter. Hexavest Inc. raised its position in Duke Energy Corporation by 4.4% in the first quarter. Hexavest Inc. now owns 780,241 shares of the utilities provider’s stock worth $63,988,000 after buying an additional 32,947 shares in the last quarter. Pegasus Partners Ltd. raised its position in Duke Energy Corporation by 0.5% in the first quarter. Pegasus Partners Ltd. now owns 23,034 shares of the utilities provider’s stock worth $1,889,000 after buying an additional 110 shares in the last quarter. Brookstone Capital Management raised its position in Duke Energy Corporation by 7.9% in the first quarter. Brookstone Capital Management now owns 78,707 shares of the utilities provider’s stock worth $6,455,000 after buying an additional 5,795 shares in the last quarter. Finally, Norinchukin Bank The raised its position in Duke Energy Corporation by 5.9% in the first quarter. Norinchukin Bank The now owns 81,297 shares of the utilities provider’s stock worth $6,667,000 after buying an additional 4,531 shares in the last quarter. 56.22% of the stock is currently owned by institutional investors and hedge funds.
About Duke Energy Corporation
Duke Energy Corporation (Duke Energy) is an energy company. The Company operates through three segments: Electric Utilities and Infrastructure; Gas Utilities and Infrastructure, and Commercial Renewables. The Company operates in the United States through its direct and indirect subsidiaries. The Electric Utilities and Infrastructure segment provides retail electric service through the generation, transmission, distribution and sale of electricity to approximately 7.5 million customers within the Southeast and Midwest regions of the United States.
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