Duke Energy (NYSE:DUK) had its target price boosted by equities research analysts at Morgan Stanley from $94.00 to $96.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 10.75% from the company’s current price.
A number of other research analysts have also recently issued reports on the company. Bank of America cut Duke Energy from a “neutral” rating to an “underperform” rating in a research note on Monday. ValuEngine cut Duke Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, Credit Suisse Group cut Duke Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, February 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Duke Energy presently has an average rating of “Hold” and an average target price of $86.90.
NYSE:DUK traded down $0.11 on Thursday, reaching $86.68. The company’s stock had a trading volume of 69,064 shares, compared to its average volume of 3,384,441. Duke Energy has a 1-year low of $71.96 and a 1-year high of $91.67. The company has a current ratio of 0.75, a quick ratio of 0.49 and a debt-to-equity ratio of 1.25. The stock has a market cap of $63.53 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 3.62 and a beta of 0.06.
Duke Energy (NYSE:DUK) last posted its earnings results on Thursday, May 9th. The utilities provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.03. Duke Energy had a return on equity of 7.70% and a net margin of 12.00%. The firm had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.39 billion. During the same period in the previous year, the firm earned $1.28 earnings per share. The company’s revenue was up .5% on a year-over-year basis. Sell-side analysts forecast that Duke Energy will post 4.94 earnings per share for the current year.
In related news, COO Dhiaa M. Jamil sold 750 shares of the company’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $89.75, for a total transaction of $67,312.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Lynn J. Good sold 15,000 shares of the company’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $89.92, for a total value of $1,348,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,250 shares of company stock worth $1,900,878. Corporate insiders own 0.09% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley increased its position in Duke Energy by 13.8% during the third quarter. Morgan Stanley now owns 3,792,774 shares of the utilities provider’s stock worth $303,498,000 after buying an additional 460,092 shares during the last quarter. First Mercantile Trust Co. grew its position in shares of Duke Energy by 69.4% in the fourth quarter. First Mercantile Trust Co. now owns 1,050 shares of the utilities provider’s stock valued at $91,000 after purchasing an additional 430 shares during the last quarter. Ffcm LLC grew its position in shares of Duke Energy by 12.8% in the fourth quarter. Ffcm LLC now owns 34,758 shares of the utilities provider’s stock valued at $3,000,000 after purchasing an additional 3,947 shares during the last quarter. Prime Capital Investment Advisors LLC grew its position in shares of Duke Energy by 3.9% in the first quarter. Prime Capital Investment Advisors LLC now owns 5,545 shares of the utilities provider’s stock valued at $499,000 after purchasing an additional 209 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Duke Energy by 4.7% in the fourth quarter. Northern Trust Corp now owns 9,338,113 shares of the utilities provider’s stock valued at $805,879,000 after purchasing an additional 415,434 shares during the last quarter. Institutional investors and hedge funds own 61.10% of the company’s stock.
About Duke Energy
Duke Energy Corp. engages in distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio.
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