Duke Energy Corp Earns Neutral Rating from Zacks (DUK)
Duke Energy Corp (NYSE:DUK)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Friday. They currently have a $77.00 price objective on the stock. Zacks‘s price target suggests a potential upside of 5.42% from the stock’s previous close.
Zacks’ analyst wrote, “We are maintaining our Neutral recommendation on Duke Energy following its second quarter 2014 results. The largest power provider in the U.S. reported higher quarterly earnings, aided by positive contributions from across the board. The company’s strong financial position, stable regulated operations, systematic capital investment program and expansion of the renewable asset base will drive future growth. It is also investing substantially in infrastructure development projects to meet rising demand, thereby increasing cash inflows. We appreciate Duke Energy’s steady efforts to maximize shareholder value through regular dividends. However, the company’s performance might be hindered by stringent environmental regulations, pending regulatory cases and volatile commodity prices.”
Duke Energy Corp (NYSE:DUK) traded up 0.07% on Friday, hitting $73.09. 1,966,983 shares of the company’s stock traded hands. Duke Energy Corp has a 1-year low of $64.16 and a 1-year high of $75.13. The stock’s 50-day moving average is $72.32 and its 200-day moving average is $71.. The company has a market cap of $51.694 billion and a P/E ratio of 23.46.
Duke Energy Corp (NYSE:DUK) last issued its quarterly earnings data on Thursday, August 7th. The company reported $1.11 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.00 by $0.11. The company had revenue of $5.95 billion for the quarter, compared to the consensus estimate of $6.13 billion. During the same quarter last year, the company posted $0.87 earnings per share. Duke Energy Corp’s revenue was up 1.2% compared to the same quarter last year. On average, analysts predict that Duke Energy Corp will post $4.60 earnings per share for the current fiscal year.
A number of other firms have also recently commented on DUK. Analysts at SunTrust reiterated a “neutral” rating on shares of Duke Energy Corp in a research note on Monday, August 4th. They now have a $71.00 price target on the stock, down previously from $73.00. Separately, analysts at ISI Group raised their price target on shares of Duke Energy Corp from $70.00 to $72.00 in a research note on Tuesday, July 29th. Finally, analysts at JPMorgan Chase & Co. set a $78.00 price target on shares of Duke Energy Corp in a research note on Wednesday, July 9th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $71.25.
Duke Energy Corporation (NYSE:DUK) is an energy company.
To view Zacks’ full report, visit Zacks’ official website.
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