JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Duke Energy (NYSE:DUK) Stock

Duke Energy (NYSE:DUK - Free Report) had its target price hoisted by JPMorgan Chase & Co. from $122.00 to $127.00 in a report issued on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the utilities provider's stock.

Several other equities research analysts have also issued reports on DUK. Citigroup lifted their price objective on Duke Energy from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group set a $132.00 price objective on Duke Energy in a report on Tuesday, July 1st. Barclays cut their target price on Duke Energy from $123.00 to $122.00 and set an "overweight" rating for the company in a research note on Tuesday, July 1st. BMO Capital Markets lowered their price objective on shares of Duke Energy from $128.00 to $123.00 and set an "outperform" rating for the company in a report on Thursday, April 10th. Finally, UBS Group reaffirmed a "neutral" rating and set a $127.00 target price (up previously from $124.00) on shares of Duke Energy in a report on Friday, July 11th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $127.25.

Duke Energy Price Performance

NYSE:DUK traded down $0.25 during trading hours on Tuesday, hitting $117.54. 642,089 shares of the company's stock traded hands, compared to its average volume of 3,458,604. The firm has a market cap of $91.36 billion, a P/E ratio of 19.48, a P/E/G ratio of 2.92 and a beta of 0.37. Duke Energy has a 52 week low of $105.20 and a 52 week high of $125.27. The business's fifty day simple moving average is $116.52 and its two-hundred day simple moving average is $115.88. The company has a quick ratio of 0.50, a current ratio of 0.77 and a debt-to-equity ratio of 1.57.

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

Duke Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be issued a $1.065 dividend. This is a boost from Duke Energy's previous quarterly dividend of $1.05. This represents a $4.26 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Friday, August 15th. Duke Energy's dividend payout ratio (DPR) is currently 69.32%.

Hedge Funds Weigh In On Duke Energy

A number of institutional investors have recently bought and sold shares of the stock. Activest Wealth Management grew its position in shares of Duke Energy by 98.1% during the first quarter. Activest Wealth Management now owns 212 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 105 shares in the last quarter. Vermillion Wealth Management Inc. bought a new position in shares of Duke Energy in the 4th quarter valued at about $27,000. Wayfinding Financial LLC bought a new position in shares of Duke Energy in the 1st quarter valued at about $27,000. N.E.W. Advisory Services LLC bought a new position in shares of Duke Energy in the 1st quarter valued at about $27,000. Finally, Mattson Financial Services LLC bought a new position in shares of Duke Energy in the 4th quarter valued at about $28,000. 65.31% of the stock is owned by 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.