Zacks Investment Research Lowers Duke Energy Corp. (DUK) to Hold
According to Zacks, “Being a premier utility service provider, Duke Energy invests heavily in infrastructure and expansion projects. The company has undertaken several projects and plans to invest about $25 billion to $30 billion in growth projects over the 2016-2020 time frame. Further, we appreciate Duke Energy’s efforts to expand its renewable asset base in light of increasingly stringent environmental regulations. Going ahead, stringent environmental regulations, pending regulatory cases, volatile commodity prices, severe weather patterns and foreign exchange risks may hinder Duke Energy’s performance. That said, the company’s stable regulated operations, the Piedmont Natural Gas acquisition, a systematic capital investment program, renewable asset expansion and organized transition toward a more focused business mix will likely provide tailwinds.”
A number of other brokerages have also issued reports on DUK. Mizuho reissued a neutral rating and issued a $75.00 price objective on shares of Duke Energy Corp. in a report on Thursday, June 30th. Scotiabank reissued a sector perform rating and issued a $88.00 price objective (up from $78.00) on shares of Duke Energy Corp. in a report on Wednesday, August 10th. Argus reissued a hold rating on shares of Duke Energy Corp. in a report on Wednesday, September 14th. SunTrust Banks Inc. decreased their price objective on Duke Energy Corp. from $82.00 to $80.00 and set a neutral rating for the company in a report on Monday, September 12th. Finally, Citigroup Inc. increased their price objective on Duke Energy Corp. from $72.00 to $82.00 and gave the stock a neutral rating in a report on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the company’s stock. Duke Energy Corp. presently has an average rating of Hold and an average target price of $80.23.
Shares of Duke Energy Corp. (NYSE:DUK) opened at 77.72 on Tuesday. The firm has a market capitalization of $53.54 billion, a PE ratio of 20.54 and a beta of 0.13. Duke Energy Corp. has a 12-month low of $65.50 and a 12-month high of $87.75. The stock has a 50 day moving average price of $80.26 and a 200 day moving average price of $81.18.
Duke Energy Corp. (NYSE:DUK) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business earned $5.10 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period in the prior year, the company posted $0.95 EPS. Analysts predict that Duke Energy Corp. will post $4.59 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, August 12th were given a $0.855 dividend. This is a boost from Duke Energy Corp.’s previous quarterly dividend of $0.83. This represents a $3.42 annualized dividend and a yield of 4.44%. The ex-dividend date was Wednesday, August 10th. Duke Energy Corp.’s dividend payout ratio is 90.24%.
In other Duke Energy Corp. news, EVP Douglas F. Esamann sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $84.58, for a total value of $253,740.00. Following the completion of the transaction, the executive vice president now directly owns 50,609 shares in the company, valued at approximately $4,280,509.22. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.08% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. Hyman Charles D acquired a new position in shares of Duke Energy Corp. during the first quarter valued at about $10,071,000. Lakeview Capital Partners LLC boosted its position in shares of Duke Energy Corp. by 1.5% in the first quarter. Lakeview Capital Partners LLC now owns 12,961 shares of the company’s stock valued at $1,046,000 after buying an additional 195 shares during the period. MCF Advisors LLC boosted its position in shares of Duke Energy Corp. by 17.4% in the first quarter. MCF Advisors LLC now owns 4,992 shares of the company’s stock valued at $403,000 after buying an additional 740 shares during the period. CIBC World Markets Inc. boosted its position in shares of Duke Energy Corp. by 150.7% in the first quarter. CIBC World Markets Inc. now owns 112,779 shares of the company’s stock valued at $9,099,000 after buying an additional 67,799 shares during the period. Finally, Exane Derivatives boosted its position in shares of Duke Energy Corp. by 4,307.2% in the first quarter. Exane Derivatives now owns 22,036 shares of the company’s stock valued at $1,778,000 after buying an additional 21,536 shares during the period. Hedge funds and other institutional investors own 56.56% of the company’s stock.
About Duke Energy Corp.
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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