Duke Energy (NYSE:DUK) Price Target Raised to $138.00

Duke Energy (NYSE:DUK) had its price objective upped by Truist Financial from $137.00 to $138.00 in a report published on Friday,Benzinga reports. The firm currently has a buy rating on the utilities provider’s stock.

Other analysts also recently issued research reports about the stock. BTIG Research reaffirmed a “buy” rating and set a $139.00 price target on shares of Duke Energy in a report on Tuesday, June 2nd. Morgan Stanley increased their target price on shares of Duke Energy from $132.00 to $136.00 in a report on Wednesday, June 24th. Jefferies Financial Group reduced their price target on shares of Duke Energy from $143.00 to $138.00 in a research note on Monday, May 11th. BMO Capital Markets decreased their price target on shares of Duke Energy from $139.00 to $138.00 in a report on Wednesday, May 6th. Finally, Barclays lowered their price objective on shares of Duke Energy from $143.00 to $134.00 and set an “overweight” rating for the company in a research report on Thursday, June 18th. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Duke Energy has an average rating of “Moderate Buy” and a consensus target price of $138.73.

Duke Energy Price Performance

Shares of Duke Energy stock opened at $125.04 on Friday. Duke Energy has a twelve month low of $113.89 and a twelve month high of $134.49. The company has a quick ratio of 0.44, a current ratio of 0.66 and a debt-to-equity ratio of 1.45. The company has a 50-day simple moving average of $124.89 and a two-hundred day simple moving average of $125.48. The stock has a market capitalization of $97.48 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 2.75 and a beta of 0.38.

Duke Energy (NYSE:DUK) last announced its earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.06. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.76 EPS. Analysts forecast that Duke Energy will post 6.72 EPS for the current year.

Duke Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th will be issued a dividend of $1.085 per share. This represents a $4.34 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from Duke Energy’s previous quarterly dividend of $1.06. Duke Energy’s payout ratio is presently 65.24%.

Insider Activity at Duke Energy

In other news, CEO Louis E. Renjel sold 3,500 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $125.15, for a total transaction of $438,025.00. Following the completion of the transaction, the chief executive officer owned 21,415 shares of the company’s stock, valued at approximately $2,680,087.25. This trade represents a 14.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Harry K. Sideris sold 20,000 shares of Duke Energy stock in a transaction on Friday, May 8th. The stock was sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the transaction, the chief executive officer owned 96,102 shares in the company, valued at approximately $11,952,205.74. This trade represents a 17.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Duke Energy

A number of institutional investors have recently made changes to their positions in DUK. Vanguard Group Inc. boosted its holdings in Duke Energy by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider’s stock valued at $9,172,709,000 after acquiring an additional 1,957,592 shares during the last quarter. Geode Capital Management LLC raised its holdings in Duke Energy by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 19,292,633 shares of the utilities provider’s stock worth $2,266,675,000 after purchasing an additional 230,375 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Duke Energy by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,931,127 shares of the utilities provider’s stock worth $1,046,818,000 after purchasing an additional 58,375 shares during the period. Franklin Resources Inc. boosted its stake in shares of Duke Energy by 13.1% in the 4th quarter. Franklin Resources Inc. now owns 8,236,893 shares of the utilities provider’s stock valued at $965,446,000 after purchasing an additional 954,907 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Duke Energy by 0.4% in the 3rd quarter. Northern Trust Corp now owns 7,758,700 shares of the utilities provider’s stock valued at $960,139,000 after purchasing an additional 31,703 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.

Key Stories Impacting Duke Energy

Here are the key news stories impacting Duke Energy this week:

• Positive Sentiment: Truist raised its price target on Duke Energy to $138 and reiterated a Buy rating, signaling confidence in the utility’s earnings outlook and suggesting meaningful upside from current levels. Benzinga report on Truist rating update
• Positive Sentiment: JPMorgan also lifted its price target to $141, even while keeping a Neutral rating, which still reflects expectations for solid longer-term value creation. Benzinga report on JPMorgan target increase
• Positive Sentiment: Recent commentary highlighted Duke Energy as one of the utilities best positioned for long-term growth thanks to its strong customer base and large capital expenditure program, with analysts pointing to contracted load and new demand from data centers as supportive of future earnings. Seeking Alpha article
• Neutral Sentiment: Duke Energy is expected to report second-quarter results next month, and analysts are looking for a modest earnings increase, keeping attention on whether the company can deliver on its growth plans. Barchart article
• Neutral Sentiment: Local coverage suggests Clearwater may renew its long-term electricity contract with Duke Energy, which would help preserve customer relationships and support revenue stability. Yahoo Finance article
• Negative Sentiment: North Carolina’s attorney general is challenging proposed Duke Energy Progress rate increases, adding another regulatory hurdle that could limit future pricing power and earnings growth. MSN article
• Negative Sentiment: Additional reports say AG Jeff Jackson is seeking to block nearly $1 billion in Duke Energy rate hikes over the next two years, reinforcing investor concerns about regulatory pushback on returns. Yahoo News article

Duke Energy Company Profile

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.