Duke Energy (NYSE:DUK) Sets New 12-Month Low - Here's What Happened

Duke Energy Corporation (NYSE:DUK - Get Free Report) hit a new 52-week low on Wednesday. The stock traded as low as $112.40 and last traded at $114.1250, with a volume of 5166061 shares traded. The stock had previously closed at $113.41.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DUK. BTIG Research reaffirmed a "buy" rating on shares of Duke Energy in a report on Thursday, July 23rd. Morgan Stanley cut their price objective on shares of Duke Energy from $133.00 to $127.00 and set an "equal weight" rating on the stock in a report on Friday, September 18th. JPMorgan Chase & Co. boosted their price objective on shares of Duke Energy from $136.00 to $141.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. BMO Capital Markets lowered their target price on shares of Duke Energy from $134.00 to $132.00 and set an "outperform" rating for the company in a report on Wednesday, August 5th. Finally, Mizuho set a $136.00 target price on shares of Duke Energy in a research report on Wednesday, August 5th. Ten equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $137.56.

Duke Energy Stock Up 0.6%

The stock has a market cap of $88.98 billion, a PE ratio of 17.14, a P/E/G ratio of 2.65 and a beta of 0.37. The business has a 50 day moving average of $121.58 and a 200-day moving average of $124.97. The company has a current ratio of 0.66, a quick ratio of 0.43 and a debt-to-equity ratio of 1.47.

Duke Energy (NYSE:DUK - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.30 by $0.13. The company had revenue of $7.59 billion during the quarter, compared to analysts' expectations of $7.66 billion. Duke Energy had a return on equity of 9.78% and a net margin of 15.78%.The firm's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 earnings per share. Equities research analysts predict that Duke Energy Corporation will post 6.72 EPS for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Friday, August 14th were paid a dividend of $1.0850 per share. The ex-dividend date was Friday, August 14th. This represents a $4.34 dividend on an annualized basis and a yield of 3.8%. This is an increase from Duke Energy's previous quarterly dividend of $1.0650. Duke Energy's dividend payout ratio (DPR) is currently 65.17%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new position in Duke Energy in the 2nd quarter valued at about $605,680,000. Janus Henderson Group PLC lifted its position in Duke Energy by 5,254.4% during the 1st quarter. Janus Henderson Group PLC now owns 2,735,816 shares of the utilities provider's stock worth $358,227,000 after acquiring an additional 2,684,721 shares during the period. Cullen Capital Management LLC purchased a new position in shares of Duke Energy in the 2nd quarter valued at approximately $244,731,000. Franklin Resources Inc. grew its stake in shares of Duke Energy by 13.1% in the 4th quarter. Franklin Resources Inc. now owns 8,236,893 shares of the utilities provider's stock valued at $965,446,000 after purchasing an additional 954,907 shares during the last quarter. Finally, Milford Funds Ltd. acquired a new position in shares of Duke Energy in the fourth quarter valued at approximately $97,905,000. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Company Profile

Duke Energy Corporation NYSE: DUK is an energy holding company that operates regulated electric and natural gas utilities in the United States. Its electric utilities generate, transmit, distribute and sell electricity to residential, commercial, industrial and other customers.

The company serves customers across the Carolinas, Florida, Indiana, Ohio and Kentucky. Duke Energy also operates natural gas utilities and related infrastructure in several states, including North Carolina, South Carolina, Ohio, Kentucky and Tennessee.

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