Duke Energy (NYSE:DUK) Price Target Raised to $132.00

Duke Energy (NYSE:DUK) had its price target boosted by BMO Capital Markets from $130.00 to $132.00 in a report released on Tuesday,MarketScreener reports. BMO Capital Markets currently has an outperform rating on the utilities provider’s stock.

Other equities analysts also recently issued reports about the company. UBS Group lowered their target price on Duke Energy from $135.00 to $126.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Mizuho upped their target price on Duke Energy from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. TD Cowen began coverage on Duke Energy in a report on Thursday, October 16th. They issued a “buy” rating and a $143.00 price target on the stock. The Goldman Sachs Group boosted their price objective on Duke Energy from $138.00 to $141.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Finally, Royal Bank Of Canada reduced their target price on Duke Energy from $143.00 to $140.00 and set a “sector perform” rating on the stock in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Duke Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.06.

Duke Energy Price Performance

DUK opened at $120.90 on Tuesday. The company’s 50-day simple moving average is $118.20 and its two-hundred day simple moving average is $121.46. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.40 and a current ratio of 0.63. The stock has a market capitalization of $94.02 billion, a P/E ratio of 19.01, a P/E/G ratio of 2.61 and a beta of 0.50. Duke Energy has a 52-week low of $110.51 and a 52-week high of $130.03.

Duke Energy (NYSE:DUK) last released its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.06. The firm had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.51 billion. Duke Energy had a net margin of 15.76% and a return on equity of 9.98%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.62 earnings per share. As a group, analysts predict that Duke Energy will post 6.33 EPS for the current year.

Duke Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 13th will be issued a $1.065 dividend. This represents a $4.26 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, February 13th. Duke Energy’s dividend payout ratio is currently 66.98%.

Insider Activity

In related news, EVP Robert Alexander Glenn sold 8,200 shares of Duke Energy stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $123.80, for a total value of $1,015,160.00. Following the completion of the sale, the executive vice president directly owned 11,367 shares in the company, valued at $1,407,234.60. The trade was a 41.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DUK. Brighton Jones LLC boosted its position in Duke Energy by 11.6% during 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 in the last quarter. Empowered Funds LLC boosted its position in Duke Energy by 19.6% during the first quarter. Empowered Funds LLC now owns 23,162 shares of the utilities provider’s stock valued at $2,825,000 after purchasing an additional 3,797 shares in the last quarter. Patton Fund Management Inc. bought a new stake in Duke Energy during the second quarter valued at about $217,000. Avior Wealth Management LLC raised its holdings in Duke Energy by 3.9% in the second quarter. Avior Wealth Management LLC now owns 3,317 shares of the utilities provider’s stock worth $391,000 after purchasing an additional 123 shares in the last quarter. Finally, Global Trust Asset Management LLC lifted its position in shares of Duke Energy by 162.9% during the second quarter. Global Trust Asset Management LLC now owns 807 shares of the utilities provider’s stock valued at $95,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

About Duke Energy

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.