Duke Energy (NYSE:DUK) Price Target Raised to $132.00

Key Points

• BMO Capital Markets has raised its price target for Duke Energy from $131.00 to $132.00, indicating a potential upside of 4.56% from the stock's previous close.
• Over recent weeks, several analysts, including Goldman Sachs and Wells Fargo, have issued varying price targets for Duke Energy, with an average consensus price target of $127.81.
• Duke Energy's recent earnings report revealed a net margin of 15.40% and a revenue increase of 4.7% year-over-year, although it missed the consensus EPS estimate by $0.04.

Duke Energy (NYSE:DUK - Free Report) had its price objective boosted by BMO Capital Markets from $131.00 to $132.00 in a research note issued to investors on Wednesday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the utilities provider's stock.

Other analysts have also recently issued research reports about the company. Morgan Stanley decreased their target price on Duke Energy from $125.00 to $124.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. UBS Group reissued a "neutral" rating and set a $127.00 price objective (up previously from $124.00) on shares of Duke Energy in a research report on Friday, July 11th. Barclays cut their price objective on shares of Duke Energy from $123.00 to $122.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 1st. Citigroup boosted their price target on Duke Energy from $130.00 to $142.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, Raymond James Financial began coverage on Duke Energy in a research report on Friday, June 13th. They issued a "market perform" rating on the stock. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Duke Energy has a consensus rating of "Moderate Buy" and a consensus price target of $129.20.

Duke Energy Price Performance

Shares of NYSE:DUK traded up $0.13 on Wednesday, hitting $126.06. The stock had a trading volume of 945,650 shares, compared to its average volume of 3,605,566. The company has a market capitalization of $98.03 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 3.03 and a beta of 0.36. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.50 and a current ratio of 0.66. The firm's 50 day moving average price is $118.08 and its 200-day moving average price is $117.37. Duke Energy has a twelve month low of $105.20 and a twelve month high of $127.85.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.04). The firm had revenue of $7.51 billion for the quarter, compared to the consensus estimate of $7.07 billion. Duke Energy had a return on equity of 9.85% and a net margin of 15.51%. Duke Energy's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.18 earnings per share. On average, equities research analysts predict that Duke Energy will post 6.33 earnings per share for the current year.

Duke Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be issued a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. This is an increase from Duke Energy's previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, August 15th. Duke Energy's dividend payout ratio (DPR) is currently 67.97%.

Institutional Investors Weigh In On Duke Energy

Hedge funds have recently made changes to their positions in the stock. Activest Wealth Management lifted its stake in shares of Duke Energy by 98.1% in the 1st quarter. Activest Wealth Management now owns 212 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 105 shares during the last quarter. Vermillion Wealth Management Inc. bought a new position in Duke Energy in the fourth quarter valued at about $27,000. Wayfinding Financial LLC acquired a new position in shares of Duke Energy in the first quarter valued at approximately $27,000. N.E.W. Advisory Services LLC acquired a new stake in Duke Energy during the 1st quarter worth approximately $27,000. Finally, Mattson Financial Services LLC acquired a new position in Duke Energy in the 4th quarter valued at approximately $28,000. 65.31% of the stock is currently owned by institutional investors and hedge funds.

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.