Duke Energy (NYSE:DUK) Stock Price Target Cut by Scotiabank

Key Points

• Scotiabank cut Duke Energy’s price target from $146 to $131, implying 14.79% potential upside from the previous close. The stock retains a “Moderate Buy” consensus rating, with a $136.62 average target from analysts.
• Duke Energy shares opened at $114.12 and were trading near their 12-month low of $112.40, while the company’s latest quarterly results beat expectations with adjusted earnings of $1.43 per share versus the $1.30 consensus.
• Institutional investors own 65.31% of Duke Energy, with several firms increasing their holdings during the second quarter.

Duke Energy (NYSE:DUK - Get Free Report) had its price target decreased by Scotiabank from $146.00 to $131.00 in a research note issued on Wednesday. Scotiabank's price target would indicate a potential upside of 14.79% from the company's previous close.

A number of other brokerages have also recently issued reports on DUK. Wall Street Zen cut shares of Duke Energy from a "hold" rating to a "sell" rating in a research note on Saturday, September 19th. BMO Capital Markets lowered their price target on shares of Duke Energy from $134.00 to $132.00 and set an "outperform" rating on the stock in a report on Wednesday, August 5th. Truist Financial cut their price objective on Duke Energy from $138.00 to $135.00 and set a "buy" rating for the company in a research report on Monday, August 17th. JPMorgan Chase & Co. raised their price objective on Duke Energy from $136.00 to $141.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Finally, Morgan Stanley reduced their target price on Duke Energy from $133.00 to $127.00 and set an "equal weight" rating on the stock in a research note on Friday, September 18th. Ten equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $136.62.

Duke Energy Trading Up 0.6%

Shares of DUK stock opened at $114.12 on Wednesday. The company has a 50 day moving average of $121.58 and a 200-day moving average of $124.97. The firm has a market cap of $88.98 billion, a P/E ratio of 17.14, a PEG ratio of 2.65 and a beta of 0.37. Duke Energy has a 12-month low of $112.40 and a 12-month high of $134.49. The company has a quick ratio of 0.43, a current ratio of 0.66 and a debt-to-equity ratio of 1.47.

Duke Energy (NYSE:DUK - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.30 by $0.13. The firm had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.66 billion. Duke Energy had a net margin of 15.78% and a return on equity of 9.78%. The business's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm earned $1.25 EPS. Sell-side analysts anticipate that Duke Energy will post 6.72 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. QRG Capital Management Inc. increased its stake in shares of Duke Energy by 7.9% during the second quarter. QRG Capital Management Inc. now owns 180,200 shares of the utilities provider's stock worth $22,810,000 after purchasing an additional 13,141 shares in the last quarter. Andra AP fonden increased its stake in Duke Energy by 41.2% during the 2nd quarter. Andra AP fonden now owns 44,200 shares of the utilities provider's stock worth $5,595,000 after buying an additional 12,900 shares in the last quarter. Security National Bank of Sioux City Iowa IA acquired a new position in shares of Duke Energy during the second quarter valued at approximately $152,000. Core Capital Management & Research inc. acquired a new stake in shares of Duke Energy in the second quarter worth approximately $857,000. Finally, Sequoia Financial Advisors LLC raised its stake in Duke Energy by 3.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 56,447 shares of the utilities provider's stock valued at $7,145,000 after purchasing an additional 1,682 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company's stock.

About Duke Energy

Duke Energy Corporation NYSE: DUK is an energy holding company that operates regulated electric and natural gas utilities in the United States. Its electric utilities generate, transmit, distribute and sell electricity to residential, commercial, industrial and other customers.

The company serves customers across the Carolinas, Florida, Indiana, Ohio and Kentucky. Duke Energy also operates natural gas utilities and related infrastructure in several states, including North Carolina, South Carolina, Ohio, Kentucky and Tennessee.

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