Duke Energy Corporation (DUK) Rating Reiterated by SunTrust Banks, Inc.
Duke Energy Corporation (NYSE:DUK)‘s stock had its “hold” rating reiterated by equities researchers at SunTrust Banks, Inc. in a report issued on Thursday. They presently have a $88.00 price objective on the utilities provider’s stock. SunTrust Banks, Inc.’s price objective would suggest a potential upside of 1.39% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets reiterated a “hold” rating and set a $87.00 price target (up from $85.00) on shares of Duke Energy Corporation in a research report on Friday, August 4th. Zacks Investment Research upgraded shares of 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 lifted their price objective on shares of Duke Energy Corporation from $87.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. Deutsche Bank AG restated a “hold” rating and issued a $84.00 price objective (up previously from $83.00) on shares of Duke Energy Corporation in a report on Wednesday, August 9th. Finally, J P Morgan Chase & Co lifted their price objective on shares of Duke Energy Corporation from $83.00 to $89.00 and gave the company a “neutral” rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. Duke Energy Corporation currently has an average rating of “Hold” and a consensus target price of $84.18.
Duke Energy Corporation (NYSE DUK) opened at 86.79 on Thursday. The company’s 50-day moving average is $86.05 and its 200 day moving average is $84.80. The company has a market capitalization of $60.75 billion, a P/E ratio of 25.71 and a beta of 0.24. Duke Energy Corporation has a one year low of $72.34 and a one year high of $88.40.
Duke Energy Corporation (NYSE:DUK) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.01. Duke Energy Corporation had a net margin of 9.89% and a return on equity of 7.72%. The business had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same period last year, the business earned $1.07 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities analysts anticipate that Duke Energy Corporation will post $4.60 earnings per share for the current year.
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In related news, EVP Douglas F. Esamann sold 5,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $86.22, for a total value of $431,100.00. Following the completion of the sale, the executive vice president now owns 50,316 shares in the company, valued at approximately $4,338,245.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Duke Energy Corporation by 2,866.0% in the 1st quarter. BlackRock Inc. now owns 42,708,918 shares of the utilities provider’s stock valued at $3,502,557,000 after purchasing an additional 41,268,968 shares during the last quarter. Norinchukin Bank The increased its stake in Duke Energy Corporation by 5.9% in the 1st quarter. Norinchukin Bank The now owns 81,297 shares of the utilities provider’s stock valued at $6,667,000 after buying an additional 4,531 shares during the period. IBM Retirement Fund increased its stake in Duke Energy Corporation by 122.4% in the 2nd quarter. IBM Retirement Fund now owns 17,136 shares of the utilities provider’s stock valued at $1,601,000 after buying an additional 9,432 shares during the period. Louisiana State Employees Retirement System increased its stake in Duke Energy Corporation by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 43,400 shares of the utilities provider’s stock valued at $3,628,000 after buying an additional 400 shares during the period. Finally, Meridian Wealth Management LLC increased its stake in Duke Energy Corporation by 2.0% in the 2nd quarter. Meridian Wealth Management LLC now owns 5,362 shares of the utilities provider’s stock valued at $448,000 after buying an additional 104 shares during the period. Hedge funds and other institutional investors own 56.22% of the company’s stock.
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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