Duke Energy (DUK) Given New $91.00 Price Target at Bank of America

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Duke Energy (NYSE:DUK) had its target price boosted by Bank of America from $89.00 to $91.00 in a report published on Monday morning. They currently have a neutral rating on the utilities provider’s stock.

A number of other brokerages also recently issued reports on DUK. Zacks Investment Research raised Duke Energy from a hold rating to a buy rating and set a $101.00 price objective on the stock in a research note on Wednesday, December 12th. Morgan Stanley boosted their price objective on Duke Energy from $85.00 to $88.00 and gave the company an equal weight rating in a research note on Tuesday, February 12th. ValuEngine raised Duke Energy from a hold rating to a buy rating in a research note on Wednesday, November 21st. Credit Suisse Group downgraded Duke Energy from an outperform rating to a neutral rating in a research note on Friday, February 15th. Finally, Barclays boosted their price objective on Duke Energy from $86.00 to $88.00 and gave the company a hold rating in a research note on Monday, November 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $85.08.

Shares of NYSE:DUK opened at $90.36 on Monday. The stock has a market capitalization of $65.80 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 3.64 and a beta of 0.06. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.44 and a current ratio of 0.65. Duke Energy has a 1 year low of $71.96 and a 1 year high of $91.35.

Duke Energy (NYSE:DUK) last announced its quarterly earnings data on Thursday, February 14th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.05). The business had revenue of $6.12 billion during the quarter, compared to analyst estimates of $5.84 billion. Duke Energy had a net margin of 10.87% and a return on equity of 7.80%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 earnings per share. On average, equities research analysts forecast that Duke Energy will post 4.97 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, March 18th. Investors of record on Friday, February 15th will be paid a dividend of $0.9275 per share. This represents a $3.71 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date is Thursday, February 14th. Duke Energy’s dividend payout ratio (DPR) is currently 78.60%.

In related news, Chairman Lynn J. Good sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $89.92, for a total transaction of $1,348,800.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lloyd M. Yates sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $88.51, for a total value of $309,785.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,250 shares of company stock worth $1,900,878. 0.08% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of DUK. BRYN MAWR TRUST Co raised its stake in shares of Duke Energy by 0.5% in the fourth quarter. BRYN MAWR TRUST Co now owns 21,157 shares of the utilities provider’s stock worth $1,826,000 after purchasing an additional 115 shares during the last quarter. Intl Fcstone Inc. raised its stake in shares of Duke Energy by 4.1% in the fourth quarter. Intl Fcstone Inc. now owns 3,275 shares of the utilities provider’s stock worth $283,000 after purchasing an additional 128 shares during the last quarter. Hartford Financial Management Inc. raised its stake in shares of Duke Energy by 8.0% in the fourth quarter. Hartford Financial Management Inc. now owns 1,761 shares of the utilities provider’s stock worth $152,000 after purchasing an additional 131 shares during the last quarter. Cigna Investments Inc. New raised its stake in shares of Duke Energy by 0.6% in the fourth quarter. Cigna Investments Inc. New now owns 20,878 shares of the utilities provider’s stock worth $1,802,000 after purchasing an additional 131 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC raised its stake in shares of Duke Energy by 3.2% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,243 shares of the utilities provider’s stock worth $366,000 after purchasing an additional 133 shares during the last quarter. 61.97% 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 three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; uses coal, hydroelectric, natural gas, oil, renewable sources, and nuclear fuel to generate electricity; and engages in the wholesale of electricity to municipalities, electric cooperative utilities, and other load-serving entities.

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