Duke Energy Corporation (NYSE:DUK) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts rate Duke Energy “Moderate Buy”: Ten of 18 analysts recommend buying the stock, while eight rate it a hold. The average 12-month price target is $137.94, above the reported share price of $121.96.
• Quarterly earnings exceeded expectations: Duke Energy reported adjusted earnings of $1.43 per share versus the $1.30 consensus estimate, although revenue of $7.59 billion fell slightly short of forecasts.
• Duke Energy raised its dividend: The quarterly payout increased to $1.085 per share, or $4.34 annually, representing a 3.6% yield and a 65.17% payout ratio.

Duke Energy Corporation (NYSE:DUK - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eighteen ratings firms that are presently covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $137.9375.

DUK has been the subject of several recent research reports. Jefferies Financial Group decreased their price target on Duke Energy from $143.00 to $138.00 in a research note on Monday, May 11th. Morgan Stanley reduced their target price on Duke Energy from $138.00 to $133.00 and set an "equal weight" rating on the stock in a report on Friday. JPMorgan Chase & Co. increased their target price on shares of Duke Energy from $136.00 to $141.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Evercore raised their price target on shares of Duke Energy from $139.00 to $140.00 in a report on Monday, May 11th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Duke Energy in a research report on Friday, July 31st.

Duke Energy Price Performance

Shares of NYSE:DUK opened at $121.96 on Tuesday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.43 and a current ratio of 0.66. Duke Energy has a 52 week low of $113.89 and a 52 week high of $134.49. The firm has a market cap of $95.09 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 2.80 and a beta of 0.38. The firm's fifty day moving average is $125.58 and its 200-day moving average is $126.67.

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

Duke Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be paid a dividend of $1.085 per share. This is a boost from Duke Energy's previous quarterly dividend of $1.06. This represents a $4.34 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, August 14th. Duke Energy's payout ratio is 65.17%.

Institutional Trading of Duke Energy

Institutional investors have recently bought and sold shares of the company. World Investment Advisors raised its holdings in shares of Duke Energy by 62.7% in the 4th quarter. World Investment Advisors now owns 42,680 shares of the utilities provider's stock worth $5,003,000 after purchasing an additional 16,450 shares during the period. Merit Financial Group LLC grew its holdings in Duke Energy by 15.7% during the second quarter. Merit Financial Group LLC now owns 70,388 shares of the utilities provider's stock valued at $8,910,000 after purchasing an additional 9,562 shares during the period. Sarasin & Partners LLP increased its position in Duke Energy by 15.3% in the second quarter. Sarasin & Partners LLP now owns 1,283,213 shares of the utilities provider's stock worth $162,429,000 after buying an additional 170,700 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Duke Energy in the fourth quarter valued at $1,316,000. Finally, Pinebridge Investments LLC bought a new stake in shares of Duke Energy in the fourth quarter valued at $6,326,000. Institutional investors own 65.31% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source