Duke Energy Corp.’s (DUK) “Hold” Rating Reaffirmed at Argus
“We expect above-average rate base growth over the next several years and view the company’s recent sale of nonregulated generating assets in the Midwest as a strong positive. Other positive fundamentals include the company’s improving balance sheet and well-managed nuclear-generating assets.”,” the firm’s analyst wrote.
Several other equities analysts have also recently issued reports on DUK. Mizuho lifted their price target on Duke Energy Corp. from $75.00 to $80.00 and gave the company a neutral rating in a research report on Thursday, August 4th. Zacks Investment Research upgraded Duke Energy Corp. from a hold rating to a buy rating and set a $96.00 price target on the stock in a research report on Tuesday, July 12th. SunTrust Banks Inc. lowered their price target on Duke Energy Corp. from $83.00 to $81.00 and set a neutral rating on the stock in a research report on Monday, August 29th. Howard Weil lifted their price target on Duke Energy Corp. from $78.00 to $88.00 and gave the company a sector perform rating in a research report on Monday, August 8th. Finally, Citigroup Inc. lifted their price target on Duke Energy Corp. from $72.00 to $82.00 and gave the company a neutral rating in a research report on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $79.91.
Shares of Duke Energy Corp. (NYSE:DUK) opened at 80.46 on Wednesday. The firm has a market capitalization of $55.43 billion, a price-to-earnings ratio of 21.27 and a beta of 0.06. Duke Energy Corp. has a 52 week low of $65.50 and a 52 week high of $87.75. The firm’s 50-day moving average price is $81.62 and its 200 day moving average price is $81.00.
Duke Energy Corp. (NYSE:DUK) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.06. Duke Energy Corp. had a return on equity of 7.85% and a net margin of 11.39%. The company had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same period last year, the firm earned $0.95 EPS. On average, analysts anticipate that Duke Energy Corp. will post $4.59 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 12th were paid a dividend of $0.855 per share. This represents a $3.42 annualized dividend and a yield of 4.25%. This is a positive change from Duke Energy Corp.’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, August 10th. Duke Energy Corp.’s payout ratio is currently 90.24%.
In related news, EVP Douglas F. Esamann sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $84.58, for a total transaction of $253,740.00. Following the transaction, the executive vice president now directly owns 50,609 shares in the company, valued at $4,280,509.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.08% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Fulton Bank N.A. raised its stake in Duke Energy Corp. by 4.4% in the first quarter. Fulton Bank N.A. now owns 41,889 shares of the company’s stock valued at $3,380,000 after buying an additional 1,768 shares in the last quarter. First American Trust FSB raised its stake in Duke Energy Corp. by 84.5% in the first quarter. First American Trust FSB now owns 44,764 shares of the company’s stock valued at $3,611,000 after buying an additional 20,496 shares in the last quarter. Pensionfund DSM Netherlands raised its stake in Duke Energy Corp. by 6.5% in the first quarter. Pensionfund DSM Netherlands now owns 57,500 shares of the company’s stock valued at $4,639,000 after buying an additional 3,500 shares in the last quarter. Beacon Financial Group raised its stake in Duke Energy Corp. by 6.1% in the first quarter. Beacon Financial Group now owns 108,845 shares of the company’s stock valued at $8,745,000 after buying an additional 6,263 shares in the last quarter. Finally, Park National Corp OH raised its stake in Duke Energy Corp. by 2.5% in the first quarter. Park National Corp OH now owns 123,960 shares of the company’s stock valued at $10,001,000 after buying an additional 2,993 shares in the last quarter. Institutional investors own 56.77% of the company’s stock.
Duke Energy Corp. Company Profile
Duke Energy Corporation (Duke Energy) is an energy company. The Company’s segments include Regulated Utilities, International Energy and Commercial Portfolio. Duke Energy’s subsidiaries include its subsidiary registrants: Duke Energy Carolinas, LLC (Duke Energy Carolinas); Progress Energy, Inc (Progress Energy); Duke Energy Progress, LLC (Duke Energy Progress); Duke Energy Florida, LLC (Duke Energy Florida); Duke Energy Ohio, Inc (Duke Energy Ohio), and Duke Energy Indiana, Inc (Duke Energy Indiana).
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