Duke Energy (NYSE:DUK) Price Target Cut to $124.00 by Analysts at Morgan Stanley

Duke Energy (NYSE:DUK - Get Free Report) had its price target decreased by equities research analysts at Morgan Stanley from $125.00 to $124.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the utilities provider's stock. Morgan Stanley's price objective indicates a potential upside of 8.23% from the stock's previous close.

Several other brokerages also recently commented on DUK. Guggenheim lifted their target price on Duke Energy from $132.00 to $135.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Raymond James Financial began coverage on Duke Energy in a research report on Friday, June 13th. They set a "market perform" rating for the company. Jefferies Financial Group upped their price objective on Duke Energy from $129.00 to $132.00 and gave the company a "buy" rating in a research report on Friday, February 21st. BMO Capital Markets reduced their price objective on shares of Duke Energy from $128.00 to $123.00 and set an "outperform" rating for the company in a research note on Thursday, April 10th. Finally, Wells Fargo & Company boosted their price objective on Duke Energy from $127.00 to $138.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Duke Energy presently has an average rating of "Moderate Buy" and a consensus price target of $125.75.

Duke Energy Stock Down 0.2%

Shares of DUK stock traded down $0.22 during trading hours on Wednesday, hitting $114.58. 1,250,318 shares of the company were exchanged, compared to its average volume of 3,446,816. The business has a 50 day moving average of $118.10 and a two-hundred day moving average of $114.90. The company has a market capitalization of $89.05 billion, a PE ratio of 19.00, a PEG ratio of 2.88 and a beta of 0.37. 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 has a 52 week low of $99.21 and a 52 week high of $125.27.

Duke Energy (NYSE:DUK - Get Free Report) last released its earnings results on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share for the quarter, beating analysts' consensus estimates of $1.59 by $0.17. Duke Energy had a net margin of 15.40% and a return on equity of 9.88%. The business had revenue of $8.25 billion during the quarter, compared to the consensus estimate of $7.70 billion. During the same quarter last year, the firm earned $1.44 earnings per share. The firm's revenue for the quarter was up 7.5% compared to the same quarter last year. Analysts anticipate that Duke Energy will post 6.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Duke Energy

Large investors have recently modified their holdings of the stock. Bcwm LLC purchased a new position in shares of Duke Energy in the fourth quarter worth $9,815,000. Bailard Inc. raised its holdings in shares of Duke Energy by 10.9% during the fourth quarter. Bailard Inc. now owns 31,921 shares of the utilities provider's stock valued at $3,439,000 after purchasing an additional 3,139 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Duke Energy by 25.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 35,755 shares of the utilities provider's stock worth $3,852,000 after purchasing an additional 7,319 shares during the last quarter. First Business Financial Services Inc. purchased a new stake in Duke Energy during the 4th quarter valued at $384,000. Finally, Alley Investment Management Company LLC boosted its stake in shares of Duke Energy by 36.4% in the 4th quarter. Alley Investment Management Company LLC now owns 76,477 shares of the utilities provider's stock worth $8,240,000 after buying an additional 20,414 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company's stock.

Duke Energy Company Profile

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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