BMO Capital Markets Has Lowered Expectations for Duke Energy (NYSE:DUK) Stock Price

Key Points

• BMO Capital Markets cut its price target on Duke Energy from $138 to $134, while keeping an outperform rating. The new target still implies about 7.17% upside from the current share price.
• Other analysts remain generally constructive on Duke Energy, with several recent target adjustments and an overall consensus rating of Moderate Buy. The average price target across analysts is $138.47.
• Duke Energy recently reported stronger-than-expected quarterly results, posting EPS of $1.93 versus estimates of $1.87 and revenue of $9.18 billion versus $8.44 billion expected. The company also saw some insider selling, including share sales by CEO Harry K. Sideris and Louis E. Renjel.

Duke Energy (NYSE:DUK - Get Free Report) had its target price cut by analysts at BMO Capital Markets from $138.00 to $134.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the utilities provider's stock. BMO Capital Markets' price target indicates a potential upside of 7.17% from the stock's current price.

Several other research firms have also issued reports on DUK. Evercore raised their target price on shares of Duke Energy from $139.00 to $140.00 in a report on Monday, May 11th. Morgan Stanley upped their price target on shares of Duke Energy from $132.00 to $136.00 in a report on Wednesday, June 24th. Barclays decreased their price objective on shares of Duke Energy from $143.00 to $134.00 and set an "overweight" rating for the company in a research note on Thursday, June 18th. Jefferies Financial Group dropped their target price on Duke Energy from $143.00 to $138.00 in a research report on Monday, May 11th. Finally, Truist Financial upped their target price on Duke Energy from $137.00 to $138.00 and gave the company a "buy" rating in a research note on Friday. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $138.47.

Duke Energy Stock Performance

NYSE DUK opened at $125.04 on Monday. The company has a quick ratio of 0.44, a current ratio of 0.66 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. The business has a 50-day moving average price of $124.89 and a 200-day moving average price of $125.48. 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.

Duke Energy (NYSE:DUK - Get Free Report) last posted its quarterly 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. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The company had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.44 billion. During the same period in the previous year, the firm earned $1.76 EPS. The firm's revenue was up 11.3% compared to the same quarter last year. As a group, equities research analysts predict that Duke Energy will post 6.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Harry K. Sideris sold 20,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the transaction, the chief executive officer owned 96,102 shares of the company's stock, valued at approximately $11,952,205.74. This represents a 17.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Louis E. Renjel sold 3,500 shares of Duke Energy stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $125.15, for a total value of $438,025.00. Following the completion of the sale, the chief executive officer owned 21,415 shares of the company's stock, valued at $2,680,087.25. The trade was a 14.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.12% of the company's stock.

Institutional Investors Weigh In On Duke Energy

Several hedge funds have recently modified their holdings of the business. Ables Iannone Moore & Associates Inc. boosted its holdings in Duke Energy by 1.2% during the 2nd quarter. Ables Iannone Moore & Associates Inc. now owns 6,623 shares of the utilities provider's stock valued at $838,000 after acquiring 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 worth $246,000 after purchasing an additional 81 shares during the period. Absher Wealth Management LLC lifted its position in shares of Duke Energy by 2.3% during the first quarter. Absher Wealth Management LLC now owns 3,648 shares of the utilities provider's stock worth $478,000 after purchasing an additional 81 shares in the last quarter. A4 Wealth Advisors LLC lifted its position in shares of Duke Energy by 3.3% during the fourth quarter. A4 Wealth Advisors LLC now owns 2,597 shares of the utilities provider's stock worth $304,000 after purchasing an additional 82 shares in the last quarter. Finally, CYBER HORNET ETFs LLC boosted its stake in shares of Duke Energy by 4.1% in the third quarter. CYBER HORNET ETFs LLC now owns 2,113 shares of the utilities provider's stock valued at $261,000 after purchasing an additional 83 shares during the period. Hedge funds and other institutional investors own 65.31% of the company's stock.

Duke Energy Company Profile

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.

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