Duke Energy (NYSE:DUK) Price Target Raised to $120.00

Duke Energy (NYSE:DUKGet Rating) had its price target increased by Wells Fargo & Company from $109.00 to $120.00 in a research report released on Tuesday, The Fly reports.

A number of other equities analysts also recently issued reports on the company. Morgan Stanley upped their price target on Duke Energy from $113.00 to $122.00 and gave the stock an equal weight rating in a research report on Wednesday, April 20th. Bank of America raised Duke Energy from a neutral rating to a buy rating and upped their price target for the stock from $108.00 to $110.00 in a research report on Monday, February 14th. StockNews.com began coverage on Duke Energy in a research report on Thursday, March 31st. They set a hold rating on the stock. Credit Suisse Group reduced their price target on Duke Energy from $125.00 to $117.00 in a research report on Tuesday. Finally, KeyCorp upped their price target on Duke Energy from $119.00 to $121.00 and gave the stock an overweight rating in a research report on Wednesday, April 20th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $112.67.

Shares of NYSE:DUK opened at $109.30 on Tuesday. The company has a market capitalization of $84.15 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 3.21 and a beta of 0.34. Duke Energy has a 52 week low of $95.48 and a 52 week high of $116.33. The company has a quick ratio of 0.42, a current ratio of 0.72 and a debt-to-equity ratio of 1.26. The firm has a 50 day moving average of $110.61 and a 200 day moving average of $104.93.

Duke Energy (NYSE:DUKGet Rating) last issued its quarterly earnings results on Monday, May 9th. The utilities provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). The business had revenue of $7.13 billion for the quarter, compared to analyst estimates of $6.32 billion. Duke Energy had a return on equity of 8.52% and a net margin of 14.47%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 earnings per share. On average, sell-side analysts expect that Duke Energy will post 5.47 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Friday, May 13th will be issued a $0.985 dividend. This represents a $3.94 annualized dividend and a yield of 3.60%. The ex-dividend date is Thursday, May 12th. Duke Energy’s payout ratio is 82.77%.

In related news, CEO Lynn J. Good sold 20,000 shares of the company’s stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $98.57, for a total transaction of $1,971,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Alexander Glenn sold 1,430 shares of the company’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $105.00, for a total transaction of $150,150.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,437 shares of company stock worth $3,505,795. 0.10% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Masso Torrence Wealth Management Inc. acquired a new position in shares of Duke Energy during the 4th quarter worth about $33,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in Duke Energy in the 1st quarter valued at about $33,000. Carl Stuart Investment Advisor Inc. acquired a new stake in Duke Energy in the 1st quarter valued at about $33,000. Quent Capital LLC acquired a new stake in Duke Energy in the 4th quarter valued at about $35,000. Finally, San Luis Wealth Advisors LLC acquired a new stake in Duke Energy in the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 62.35% of the company’s stock.

Duke Energy Company Profile (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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