Duke Energy (NYSE:DUK) Given New $128.00 Price Target at Scotiabank

Key Points

• Scotiabank raised its price target for Duke Energy from $120.00 to $128.00, indicating a potential upside of 1.48% from the previous close.
• Analysts are generally positive about Duke Energy, with a consensus rating of "Moderate Buy" and a consensus target price of $128.31.
• Duke Energy reported a Q2 EPS of $1.25, missing estimates, but revealed a revenue of $7.51 billion, surpassing expectations of $7.07 billion.

Duke Energy (NYSE:DUK - Get Free Report) had its target price hoisted by stock analysts at Scotiabank from $120.00 to $128.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "sector perform" rating on the utilities provider's stock. Scotiabank's price objective would suggest a potential upside of 1.48% from the stock's previous close.

Other analysts have also issued research reports about the stock. BMO Capital Markets lifted their target price on shares of Duke Energy from $131.00 to $132.00 and gave the stock an "outperform" rating in a report on Wednesday. Citigroup increased their target price on shares of Duke Energy from $130.00 to $142.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. UBS Group reiterated a "neutral" rating and set a $127.00 price target (up previously from $124.00) on shares of Duke Energy in a research report on Friday, July 11th. Barclays decreased their price target on shares of Duke Energy from $123.00 to $122.00 and set an "overweight" rating for the company in a research note on Tuesday, July 1st. Finally, Morgan Stanley dropped their price target on shares of Duke Energy from $125.00 to $124.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $128.31.

Duke Energy Price Performance

NYSE:DUK traded up $2.14 during midday trading on Wednesday, hitting $126.14. 1,562,236 shares of the stock were exchanged, compared to its average volume of 3,613,771. Duke Energy has a one year low of $105.20 and a one year high of $127.85. The company has a market capitalization of $98.04 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 3.00 and a beta of 0.36. The business has a 50-day moving average price of $117.66 and a two-hundred day moving average price of $117.20. The company has a current ratio of 0.77, a quick ratio of 0.50 and a debt-to-equity ratio of 1.57.

Duke Energy (NYSE:DUK - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $1.25 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.04). The company had revenue of $7.51 billion for the quarter, compared to analysts' expectations of $7.07 billion. Duke Energy had a net margin of 15.40% and a return on equity of 9.88%. The company's revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.18 earnings per share. Sell-side analysts predict that Duke Energy will post 6.33 EPS for the current year.

Institutional Investors Weigh In On Duke Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. GQG Partners LLC grew its holdings in Duke Energy by 17,880.0% during the 1st quarter. GQG Partners LLC now owns 10,249,508 shares of the utilities provider's stock worth $1,250,133,000 after acquiring an additional 10,192,503 shares in the last quarter. Nuveen LLC bought a new stake in shares of Duke Energy in the 1st quarter valued at about $702,351,000. Raymond James Financial Inc. raised its position in Duke Energy by 88.1% during the 1st quarter. Raymond James Financial Inc. now owns 4,861,309 shares of the utilities provider's stock worth $592,934,000 after buying an additional 2,276,948 shares during the last quarter. Vanguard Group Inc. raised its position in Duke Energy by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 74,562,000 shares of the utilities provider's stock worth $9,094,327,000 after buying an additional 1,676,061 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Duke Energy by 14,268.8% during the 1st quarter. GAMMA Investing LLC now owns 1,663,183 shares of the utilities provider's stock worth $202,858,000 after buying an additional 1,651,608 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company's stock.

About Duke Energy

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.

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