Duke Energy (NYSE:DUK) Given New $133.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley cut Duke Energy’s price target to $133 from $138 while maintaining an “equal weight” rating, implying approximately 10.6% upside from the stock’s reported $120.24 price.
• Analyst sentiment remains generally positive: Duke Energy has a “Moderate Buy” consensus rating and an average price target of $137.94, based on 10 Buy and eight Hold ratings.
• Duke Energy’s latest quarterly results exceeded expectations, with EPS of $1.43 versus the $1.30 consensus estimate, although revenue of $7.59 billion came in slightly below forecasts.

Duke Energy (NYSE:DUK - Get Free Report) had its price target cut by Morgan Stanley from $138.00 to $133.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the utilities provider's stock. Morgan Stanley's price target would indicate a potential upside of 10.61% from the stock's current price.

A number of other research analysts also recently weighed in on the company. Evercore upped their target price on Duke Energy from $139.00 to $140.00 in a report on Monday, May 11th. JPMorgan Chase & Co. lifted their price target on Duke Energy from $136.00 to $141.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. BTIG Research reiterated a "buy" rating on shares of Duke Energy in a report on Thursday, July 23rd. UBS Group lowered their price objective on Duke Energy from $137.00 to $135.00 in a research report on Monday, May 11th. Finally, Mizuho set a $136.00 target price on shares of Duke Energy in a report on Wednesday, August 5th. Ten 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, Duke Energy presently has a consensus rating of "Moderate Buy" and an average price target of $137.94.

Duke Energy Trading Down 2.0%

DUK stock traded down $2.45 on Friday, reaching $120.24. The company's stock had a trading volume of 1,471,599 shares, compared to its average volume of 4,011,235. The firm has a market cap of $93.75 billion, a PE ratio of 18.05, a PEG ratio of 2.88 and a beta of 0.38. The business has a fifty day simple moving average of $125.74 and a two-hundred day simple moving average of $126.67. Duke Energy has a 12-month low of $113.89 and a 12-month high of $134.49. 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 (NYSE:DUK - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.13. Duke Energy had a net margin of 15.78% and a return on equity of 9.78%. The business had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the previous year, the firm earned $1.25 EPS. The company's quarterly revenue was up 1.1% compared to the same quarter last year. As a group, research analysts forecast that Duke Energy will post 6.72 EPS for the current year.

Hedge Funds Weigh In On Duke Energy

Hedge funds have recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. lifted its stake in Duke Energy by 1.2% in the second quarter. Ables Iannone Moore & Associates Inc. now owns 6,623 shares of the utilities provider's stock valued at $838,000 after purchasing an additional 80 shares during the last quarter. Sharp Wealth Advisory LLC increased its position in Duke Energy by 4.5% in the first quarter. Sharp Wealth Advisory LLC now owns 1,876 shares of the utilities provider's stock worth $246,000 after buying an additional 81 shares during the last quarter. Absher Wealth Management LLC raised its stake in shares of Duke Energy by 2.3% in the first quarter. Absher Wealth Management LLC now owns 3,648 shares of the utilities provider's stock valued at $478,000 after buying an additional 81 shares during the period. A4 Wealth Advisors LLC lifted its position in shares of Duke Energy by 3.3% during the 4th quarter. A4 Wealth Advisors LLC now owns 2,597 shares of the utilities provider's stock valued at $304,000 after buying an additional 82 shares during the last quarter. Finally, CYBER HORNET ETFs LLC grew its stake in shares of Duke Energy by 4.1% during the 3rd quarter. CYBER HORNET ETFs LLC now owns 2,113 shares of the utilities provider's stock worth $261,000 after acquiring an additional 83 shares during the period. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

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.

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