Duke Energy (NYSE:DUK) Price Target Cut to $110.00 by Analysts at Bank of America

Posted by Defense World Staff on Jun 12th, 2023

Duke Energy (NYSE:DUK – Get Rating) had its price target trimmed by Bank of America from $112.00 to $110.00 in a research note issued to investors on Sunday, The Fly reports.

Several other equities research analysts also recently weighed in on DUK. Seaport Res Ptn raised shares of Duke Energy from a sell rating to a neutral rating in a research report on Friday, March 17th. The Goldman Sachs Group began coverage on shares of Duke Energy in a research report on Wednesday, June 7th. They issued a neutral rating and a $99.00 target price for the company. JPMorgan Chase & Co. dropped their target price on shares of Duke Energy from $109.00 to $97.00 in a research report on Thursday. Morgan Stanley boosted their price objective on shares of Duke Energy from $99.00 to $108.00 and gave the company an equal weight rating in a research report on Thursday, April 20th. Finally, StockNews.com initiated coverage on shares of Duke Energy in a research report on Thursday, May 18th. They set a hold rating for the company. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $104.77.

Duke Energy Trading Down 0.5 %

DUK stock traded down $0.45 during midday trading on Friday, hitting $91.07. The stock had a trading volume of 1,423,316 shares, compared to its average volume of 2,935,411. The firm has a market cap of $70.18 billion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 2.64 and a beta of 0.43. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.77 and a quick ratio of 0.53. Duke Energy has a 12-month low of $83.76 and a 12-month high of $113.67. The company’s 50-day moving average price is $95.42 and its 200 day moving average price is $98.12.

Duke Energy (NYSE:DUK – Get Rating) last announced its quarterly earnings results on Tuesday, May 9th. The utilities provider reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.20). The company had revenue of $7.28 billion during the quarter, compared to analyst estimates of $6.26 billion. Duke Energy had a net margin of 8.89% and a return on equity of 8.39%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.30 EPS. On average, equities research analysts predict that Duke Energy will post 5.62 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, May 12th will be issued a dividend of $1.005 per share. The ex-dividend date is Thursday, May 11th. This represents a $4.02 dividend on an annualized basis and a dividend yield of 4.41%. Duke Energy’s dividend payout ratio is currently 123.69%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC increased its stake in shares of Duke Energy by 100,433.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,846,616 shares of the utilities provider’s stock worth $808,123,000 after purchasing an additional 7,838,811 shares during the last quarter. Providence Capital Advisors LLC increased its position in Duke Energy by 9,639.5% in the 1st quarter. Providence Capital Advisors LLC now owns 3,538,183 shares of the utilities provider’s stock valued at $36,676,000 after acquiring an additional 3,501,855 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in Duke Energy by 519.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,797,605 shares of the utilities provider’s stock valued at $391,115,000 after acquiring an additional 3,184,331 shares in the last quarter. American Century Companies Inc. increased its position in Duke Energy by 83.3% in the 4th quarter. American Century Companies Inc. now owns 4,097,342 shares of the utilities provider’s stock valued at $421,985,000 after acquiring an additional 1,862,023 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in Duke Energy by 19,064.6% in the 4th quarter. Bessemer Group Inc. now owns 1,377,548 shares of the utilities provider’s stock valued at $141,872,000 after acquiring an additional 1,370,360 shares in the last quarter. Institutional investors and hedge funds own 63.22% of the company’s stock.

About Duke Energy

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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; and uses coal, hydroelectric, natural gas, oil, solar and wind sources, renewables, and nuclear fuel to generate electricity.

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