Truist Financial Boosts Duke Energy (NYSE:DUK) Price Target to $138.00

Duke Energy (NYSE:DUK) had its price target boosted by analysts at Truist Financial from $137.00 to $138.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. Truist Financial’s price objective indicates a potential upside of 10.37% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. UBS Group dropped their price target on Duke Energy from $137.00 to $135.00 in a report on Monday, May 11th. Jefferies Financial Group decreased their target price on Duke Energy from $143.00 to $138.00 in a report on Monday, May 11th. BMO Capital Markets cut their target price on Duke Energy from $139.00 to $138.00 in a research report on Wednesday, May 6th. Mizuho decreased their price target on Duke Energy from $139.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, June 18th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Duke Energy in a research report on Monday, May 4th. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $138.73.

Duke Energy Stock Performance

NYSE:DUK opened at $125.04 on Friday. The company has a 50-day moving average of $124.89 and a 200-day moving average of $125.42. The firm has a market cap 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. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. Duke Energy has a twelve month low of $113.89 and a twelve month high of $134.49.

Duke Energy (NYSE:DUK) last released its earnings results on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.06. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.76 EPS. Analysts forecast that Duke Energy will post 6.72 earnings per share for the current fiscal year.

Insider Activity at Duke Energy

In other news, CEO Harry K. Sideris sold 20,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the transaction, the chief executive officer directly owned 96,102 shares in the company, valued at $11,952,205.74. The trade was a 17.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Louis E. Renjel sold 3,500 shares of the company’s stock in a transaction on Monday, May 11th. The stock was 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 directly owned 21,415 shares in the company, valued at $2,680,087.25. This trade represents a 14.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.12% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. lifted its stake in shares of Duke Energy by 1.2% in the second quarter. Ables Iannone Moore & Associates Inc. now owns 6,623 shares of the utilities provider’s stock valued at $838,000 after buying an additional 80 shares during the period. Sharp Wealth Advisory LLC increased its stake in Duke Energy by 4.5% during the first quarter. Sharp Wealth Advisory LLC now owns 1,876 shares of the utilities provider’s stock valued at $246,000 after acquiring an additional 81 shares during the period. Absher Wealth Management LLC raised its holdings in Duke Energy by 2.3% in the 1st quarter. Absher Wealth Management LLC now owns 3,648 shares of the utilities provider’s stock valued at $478,000 after acquiring an additional 81 shares in the last quarter. A4 Wealth Advisors LLC raised its holdings in Duke Energy by 3.3% in the 4th quarter. A4 Wealth Advisors LLC now owns 2,597 shares of the utilities provider’s stock valued at $304,000 after acquiring an additional 82 shares in the last quarter. Finally, CYBER HORNET ETFs LLC lifted its position in shares of Duke Energy by 4.1% in the 3rd quarter. CYBER HORNET ETFs LLC now owns 2,113 shares of the utilities provider’s stock worth $261,000 after acquiring an additional 83 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy News Roundup

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

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.