Duke Energy (NYSE:DUK) Downgraded by Credit Suisse Group to “Neutral”

Credit Suisse Group lowered shares of Duke Energy (NYSE:DUKGet Rating) from an outperform rating to a neutral rating in a research report sent to investors on Friday morning, MarketBeat reports. They currently have $114.00 price objective on the utilities provider’s stock, up from their prior price objective of $112.00.

A number of other equities analysts have also weighed in on DUK. Barclays dropped their target price on shares of Duke Energy from $119.00 to $110.00 in a research report on Monday, July 18th. KeyCorp decreased their price target on shares of Duke Energy from $121.00 to $116.00 and set an overweight rating on the stock in a research note on Tuesday, July 19th. Morgan Stanley upped their price target on shares of Duke Energy from $107.00 to $114.00 and gave the company an equal weight rating in a research note on Thursday, July 21st. Wells Fargo & Company increased their target price on shares of Duke Energy from $109.00 to $120.00 in a research note on Tuesday, May 10th. Finally, UBS Group cut shares of Duke Energy from a buy rating to a neutral rating and cut their price target for the stock from $122.00 to $112.00 in a report on Thursday, June 30th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $111.91.

Duke Energy Stock Down 0.5 %

DUK opened at $109.16 on Friday. The firm has a 50 day moving average price of $106.71 and a 200-day moving average price of $107.24. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $84.04 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 3.35 and a beta of 0.34. Duke Energy has a twelve month low of $95.48 and a twelve month high of $116.33.

Duke Energy (NYSE:DUKGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The utilities provider reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.04). Duke Energy had a return on equity of 8.42% and a net margin of 14.50%. The firm had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $5.79 billion. During the same quarter in the previous year, the company earned $1.15 earnings per share. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. Equities research analysts forecast that Duke Energy will post 5.45 earnings per share for the current year.

Duke Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, August 12th will be paid a dividend of $1.005 per share. This represents a $4.02 annualized dividend and a yield of 3.68%. The ex-dividend date is Thursday, August 11th. This is a boost from Duke Energy’s previous quarterly dividend of $0.99. Duke Energy’s payout ratio is 79.76%.

Insider Activity at Duke Energy

In related news, CFO Steven K. Young sold 415 shares of the business’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $107.75, for a total value of $44,716.25. Following the sale, the chief financial officer now directly owns 114,072 shares in the company, valued at approximately $12,291,258. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 1,245 shares of company stock worth $137,021. Company insiders own 0.10% of the company’s stock.

Institutional Trading of Duke Energy

A number of institutional investors and hedge funds have recently bought and sold shares of DUK. Carl Stuart Investment Advisor Inc. acquired a new position in shares of Duke Energy during the first quarter worth about $33,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in shares of Duke Energy during the first quarter worth about $33,000. Masso Torrence Wealth Management Inc. acquired a new position in Duke Energy in the fourth quarter valued at approximately $33,000. Quent Capital LLC acquired a new position in Duke Energy in the fourth quarter valued at approximately $35,000. Finally, San Luis Wealth Advisors LLC acquired a new position in Duke Energy in the first quarter valued at approximately $35,000. 62.35% of the stock is currently owned by hedge funds and other institutional investors.

About Duke Energy

(Get Rating)

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; and uses coal, hydroelectric, natural gas, oil, renewable generation, and nuclear fuel to generate electricity.

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Analyst Recommendations for Duke Energy (NYSE:DUK)

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