Duke Energy (NYSE:DUK) Price Target Cut to $141.00 by Analysts at Morgan Stanley

Key Points

• Morgan Stanley cut its price target on Duke Energy to $141 (from $142) while maintaining an "equal weight" rating, a target that implies roughly a 10.6% upside from the stock's previous close.
• Analyst consensus remains mildly positive with an average rating of "Moderate Buy", an average price target of $140.50, and a near-even split of 10 Buy vs. 9 Hold ratings.
• Shares trade around $127.44 (50/200‑day MAs $129.66/$124.16) with a market cap of about $99.2B and a P/E of 20.1; the company slightly beat quarterly EPS and its CEO recently sold 6,800 shares, reducing his stake by ~23.6%.

Duke Energy (NYSE:DUK - Get Free Report) had its price objective dropped by research analysts at Morgan Stanley from $142.00 to $141.00 in a note issued to investors on Tuesday,MarketScreener reports. The brokerage currently has an "equal weight" rating on the utilities provider's stock. Morgan Stanley's price objective points to a potential upside of 10.64% from the company's previous close.

A number of other research analysts also recently issued reports on the company. Royal Bank Of Canada cut their price objective on Duke Energy from $143.00 to $140.00 and set a "sector perform" rating for the company in a research note on Friday, January 23rd. Evercore reiterated an "in-line" rating and issued a $139.00 price target on shares of Duke Energy in a research report on Thursday, March 5th. Barclays raised their price target on Duke Energy from $127.00 to $143.00 and gave the company an "overweight" rating in a report on Tuesday, April 7th. Jefferies Financial Group lifted their target price on Duke Energy from $125.00 to $141.00 and gave the company a "hold" rating in a research note on Tuesday, February 17th. Finally, Wall Street Zen upgraded shares of Duke Energy from a "sell" rating to a "hold" rating in a research report on Saturday, March 28th. Ten investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $140.50.

Duke Energy Stock Performance

Shares of NYSE DUK opened at $127.44 on Tuesday. The firm's 50-day moving average price is $129.66 and its 200-day moving average price is $124.16. Duke Energy has a 52-week low of $111.22 and a 52-week high of $134.49. The company has a market cap of $99.17 billion, a PE ratio of 20.14 and a beta of 0.46. The company has a quick ratio of 0.33, a current ratio of 0.55 and a debt-to-equity ratio of 1.54.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings data on Monday, February 9th. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.49 by $0.01. The firm had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $7.57 billion. Duke Energy had a net margin of 15.41% and a return on equity of 9.66%. During the same quarter in the previous year, the firm posted $1.66 EPS. As a group, analysts anticipate that Duke Energy will post 6.7 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Louis E. Renjel sold 6,800 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $127.67, for a total value of $868,156.00. Following the sale, the chief executive officer directly owned 22,007 shares in the company, valued at approximately $2,809,633.69. This represents a 23.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Regis T. Repko sold 962 shares of the business's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $127.86, for a total transaction of $123,001.32. Following the sale, the senior vice president directly owned 3,896 shares of the company's stock, valued at $498,142.56. This represents a 19.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is owned by company insiders.

Hedge Funds Weigh In On Duke Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Basso Capital Management L.P. bought a new position in shares of Duke Energy during the fourth quarter valued at approximately $25,000. Dorato Capital Management purchased a new stake in Duke Energy during the fourth quarter valued at approximately $26,000. Evolution Wealth Management Inc. grew its holdings in Duke Energy by 1,111.1% in the fourth quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider's stock worth $26,000 after purchasing an additional 200 shares during the last quarter. KERR FINANCIAL PLANNING Corp purchased a new position in Duke Energy in the 3rd quarter worth $27,000. Finally, Triumph Capital Management increased its holdings in shares of Duke Energy by 68.6% in the fourth quarter. Triumph Capital Management now owns 231 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 94 shares during the period. 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.