Duke Energy Corporation (NYSE:DUK) Earns Hold Rating from BMO Capital Markets
BMO Capital Markets restated their hold rating on shares of Duke Energy Corporation (NYSE:DUK) in a research report released on Friday morning. BMO Capital Markets currently has a $87.00 price objective on the utilities provider’s stock, up from their previous price objective of $85.00.
Other research analysts have also recently issued reports about the company. Zacks Investment Research raised Duke Energy Corporation from a hold rating to a buy rating and set a $93.00 price objective for the company in a report on Tuesday, July 11th. Morgan Stanley reissued an equal weight rating and set a $87.00 price objective (down from $91.00) on shares of Duke Energy Corporation in a report on Monday, July 10th. BidaskClub raised Duke Energy Corporation from a sell rating to a hold rating in a report on Monday, July 24th. Deutsche Bank AG lifted their price objective on Duke Energy Corporation from $81.00 to $83.00 and gave the company a hold rating in a report on Tuesday, April 11th. Finally, Goldman Sachs Group, Inc. (The) raised Duke Energy Corporation from a neutral rating to a buy rating and lifted their price objective for the company from $82.00 to $85.00 in a report on Monday, June 26th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $82.51.
Duke Energy Corporation (NYSE:DUK) traded down 0.31% during mid-day trading on Friday, hitting $86.21. 1,192,508 shares of the company were exchanged. Duke Energy Corporation has a 12-month low of $72.34 and a 12-month high of $87.75. The company has a market cap of $60.34 billion, a price-to-earnings ratio of 27.49 and a beta of 0.24. The stock’s 50 day moving average is $84.87 and its 200-day moving average is $82.44.
Duke Energy Corporation (NYSE:DUK) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.01. The company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.76 billion. Duke Energy Corporation had a return on equity of 7.72% and a net margin of 9.89%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the business earned $1.07 earnings per share. Equities research analysts predict that Duke Energy Corporation will post $4.61 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, August 18th will be issued a dividend of $0.89 per share. This is a boost from Duke Energy Corporation’s previous quarterly dividend of $0.86. This represents a $3.56 annualized dividend and a yield of 4.12%. The ex-dividend date is Wednesday, August 16th. Duke Energy Corporation’s payout ratio is currently 101.48%.
In other Duke Energy Corporation news, Director E Marie Mckee sold 1,937 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $85.29, for a total transaction of $165,206.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Theodore F. Craver, Jr. acquired 3,500 shares of the company’s stock in a transaction on Monday, May 15th. The shares were purchased at an average cost of $83.73 per share, with a total value of $293,055.00. Following the completion of the acquisition, the director now directly owns 5,706 shares in the company, valued at approximately $477,763.38. The disclosure for this purchase can be found here. Insiders own 0.07% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Pinnacle Bank bought a new position in Duke Energy Corporation during the first quarter worth $104,000. Winfield Associates Inc. boosted its position in Duke Energy Corporation by 14.3% in the second quarter. Winfield Associates Inc. now owns 1,322 shares of the utilities provider’s stock worth $111,000 after buying an additional 165 shares during the last quarter. Jolley Asset Management LLC boosted its position in shares of Duke Energy Corporation by 26.4% in the second quarter. Jolley Asset Management LLC now owns 1,499 shares of the utilities provider’s stock valued at $125,000 after buying an additional 313 shares in the last quarter. North Star Investment Management Corp. boosted its position in shares of Duke Energy Corporation by 26.2% in the first quarter. North Star Investment Management Corp. now owns 1,552 shares of the utilities provider’s stock valued at $127,000 after buying an additional 322 shares in the last quarter. Finally, Daiwa SB Investments Ltd. acquired a new position in shares of Duke Energy Corporation during the second quarter valued at approximately $130,000. 55.60% of the stock is owned by hedge funds and other institutional investors.
About Duke Energy Corporation
Duke Energy Corporation (Duke Energy) is an energy company. The Company operates through three segments: Electric Utilities and Infrastructure; Gas Utilities and Infrastructure, and Commercial Renewables. The Company operates in the United States through its direct and indirect subsidiaries. The Electric Utilities and Infrastructure segment provides retail electric service through the generation, transmission, distribution and sale of electricity to approximately 7.5 million customers within the Southeast and Midwest regions of the United States.
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