Duke Energy (NYSE:DUK) Reaches New 52-Week High - Here's Why

Key Points

• Duke Energy's shares reached a new 52-week high of $127.85 during trading, closing at $126.86, with significant trading volume of 455,728 shares.
• Analysts have a consensus rating of "Moderate Buy" for Duke Energy, with a target price averaging at $127.25; however, several firms, including Barclays and Morgan Stanley, have recently downgraded their price objectives.
• The company recently increased its quarterly dividend to $1.065, representing a 3.4% yield, and reported a net margin of 15.40% with a revenue increase of 4.7% year-over-year.

Shares of Duke Energy Corporation (NYSE:DUK - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $127.85 and last traded at $126.86, with a volume of 455728 shares. The stock had previously closed at $124.17.

Analyst Upgrades and Downgrades

DUK has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of Duke Energy from $127.00 to $138.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. boosted their price objective on Duke Energy from $122.00 to $127.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. The Goldman Sachs Group set a $132.00 target price on Duke Energy in a research note on Tuesday, July 1st. UBS Group reiterated a "neutral" rating and set a $127.00 price objective (up from $124.00) on shares of Duke Energy in a report on Friday, July 11th. Finally, Barclays dropped their price target 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. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $129.20.

Duke Energy Price Performance

The business's 50 day moving average is $118.08 and its two-hundred day moving average is $117.37. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.66 and a quick ratio of 0.50. The firm has a market capitalization of $97.79 billion, a PE ratio of 20.42, a P/E/G ratio of 3.03 and a beta of 0.36.

Duke Energy (NYSE:DUK - Get Free Report) last released its earnings results on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share for the quarter, missing analysts' consensus estimates of $1.29 by ($0.04). The firm had revenue of $7.51 billion during 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%. The business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.18 EPS. As a group, research analysts anticipate that Duke Energy Corporation will post 6.33 EPS 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 paid a $1.065 dividend. This is a boost from Duke Energy's previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.4%. Duke Energy's dividend payout ratio is presently 67.97%.

Institutional Investors Weigh In On Duke Energy

Several institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC increased its position in shares of Duke Energy by 11.6% in the fourth quarter. Brighton Jones LLC now owns 6,754 shares of the utilities provider's stock valued at $728,000 after acquiring an additional 700 shares during the period. Redwood Park Advisors LLC bought a new stake in shares of Duke Energy in the 4th quarter worth approximately $36,000. Treasurer of the State of North Carolina lifted its stake in Duke Energy by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 339,452 shares of the utilities provider's stock worth $36,573,000 after acquiring an additional 2,130 shares during the period. Argent Trust Co increased its position in Duke Energy by 6.3% during the 4th quarter. Argent Trust Co now owns 52,625 shares of the utilities provider's stock valued at $5,670,000 after purchasing an additional 3,106 shares during the period. Finally, Jaffetilchin Investment Partners LLC increased its position in shares of Duke Energy by 13.4% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 20,255 shares of the utilities provider's stock valued at $2,182,000 after buying an additional 2,386 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, 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.