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

Duke Energy (NYSE:DUK) had its price objective hoisted by equities researchers at Truist Financial from $137.00 to $138.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the utilities provider’s stock. Truist Financial’s price target would suggest a potential upside of 9.53% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. BMO Capital Markets reduced their price objective on shares of Duke Energy from $139.00 to $138.00 in a research note on Wednesday, May 6th. Capitol Sec Mgt downgraded Duke Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Jefferies Financial Group cut their price objective on Duke Energy from $143.00 to $138.00 in a report on Monday, May 11th. JPMorgan Chase & Co. increased their target price on shares of Duke Energy from $136.00 to $141.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Wells Fargo & Company increased their price objective on shares of Duke Energy from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Monday, April 20th. Nine 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $138.73.

Duke Energy Trading Up 1.3%

Shares of DUK opened at $125.99 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.66 and a quick ratio of 0.44. The firm has a 50 day simple moving average of $124.87 and a 200-day simple moving average of $125.42. Duke Energy has a 1-year low of $113.89 and a 1-year high of $134.49. The stock has a market cap of $98.22 billion, a price-to-earnings ratio of 19.29 and a beta of 0.38.

Duke Energy (NYSE:DUK) last posted its earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.06. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the prior year, the company earned $1.76 EPS. Duke Energy’s revenue was up 11.3% on a year-over-year basis. Equities analysts forecast that Duke Energy will post 6.71 EPS for the current fiscal year.

Insider Buying and Selling at Duke Energy

In related news, CEO Harry K. Sideris sold 20,000 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $124.37, for a total value of $2,487,400.00. Following the completion of the transaction, the chief executive officer owned 96,102 shares in the company, valued at $11,952,205.74. This represents a 17.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Louis E. Renjel sold 3,500 shares of the stock in a transaction that occurred 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 $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 owned by company insiders.

Institutional Investors Weigh In On Duke Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Basso Capital Management L.P. acquired a new position in shares of Duke Energy in the 4th quarter worth approximately $25,000. Dorato Capital Management bought a new stake in shares of Duke Energy during the 4th quarter worth $26,000. Evolution Wealth Management Inc. lifted its holdings in shares of Duke Energy by 1,111.1% during the fourth quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. KERR FINANCIAL PLANNING Corp purchased a new position in Duke Energy in the 3rd quarter worth about $27,000. Finally, Triumph Capital Management boosted its holdings in shares of Duke Energy by 68.6% in the fourth quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock worth $27,000 after buying an additional 94 shares during the period. 65.31% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Duke Energy

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

• Positive Sentiment: JPMorgan raised its price target on Duke Energy to $141 from $136, keeping a neutral rating; the new target suggests upside from current levels and may help support sentiment. Benzinga report on JPMorgan price target increase
• Positive Sentiment: Analysts highlighted Duke Energy’s contracted load and growth plan as more credible, reinforcing the utility’s long-term earnings visibility. Seeking Alpha article on Duke Energy growth plan
• Positive Sentiment: Duke Energy Florida promoted its EnergyWise Home program, which offers bill credits with minimal effort from customers; that can improve customer goodwill and retention. PR Newswire EnergyWise Home program release
• Neutral Sentiment: Clearwater appears poised to renew a 30-year electricity contract with Duke Energy, which would preserve a long-running customer relationship but is unlikely to materially change near-term earnings. Yahoo news on Clearwater contract
• Neutral Sentiment: Duke Energy’s next quarterly earnings are expected next month, with analysts looking for a modest year-over-year earnings increase. Barchart article on upcoming earnings
• Negative Sentiment: North Carolina’s attorney general is challenging Duke Energy Progress rate increases, including a proposed 15% hike and nearly $1 billion in requested rate changes over two years, adding regulatory risk to future earnings. MSN article on rate hike challenge
• Negative Sentiment: An outage in Greensboro left thousands of Duke Energy customers without power, which can pressure sentiment if it raises concerns about service reliability. MSN article on Greensboro outage

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.