Duke Energy Corporation (DUK) Given New $77.00 Price Target at Citigroup Inc.
Duke Energy Corporation (NYSE:DUK) had its target price upped by stock analysts at Citigroup Inc. from $74.00 to $77.00 in a report released on Tuesday. The brokerage currently has a “sell” rating on the utilities provider’s stock. Citigroup Inc.’s price target points to a potential downside of 11.63% from the company’s previous close.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised Duke Energy Corporation from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Friday, July 21st. BidaskClub raised Duke Energy Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) raised Duke Energy Corporation from a “neutral” rating to a “buy” rating and increased their price target for the company from $82.00 to $85.00 in a research report on Monday, June 26th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $87.00 price target on shares of Duke Energy Corporation in a research report on Tuesday, August 29th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $87.00 price target (down previously from $91.00) on shares of Duke Energy Corporation in a research report on Monday, July 10th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. Duke Energy Corporation has a consensus rating of “Hold” and an average price target of $84.71.
Duke Energy Corporation (NYSE:DUK) traded up 0.25% during trading on Tuesday, reaching $87.35. The company’s stock had a trading volume of 934,372 shares. The stock has a market capitalization of $61.14 billion, a PE ratio of 25.87 and a beta of 0.24. Duke Energy Corporation has a 1-year low of $72.34 and a 1-year high of $88.40. The stock has a 50 day moving average price of $86.01 and a 200 day moving average price of $84.83.
Duke Energy Corporation (NYSE:DUK) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.01. The company had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.76 billion. Duke Energy Corporation had a return on equity of 7.72% and a net margin of 9.89%. Duke Energy Corporation’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 EPS. Analysts anticipate that Duke Energy Corporation will post $4.60 earnings per share for the current fiscal year.
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In related news, EVP Douglas F. Esamann sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $86.22, for a total transaction of $431,100.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.07% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Duke Energy Corporation by 2,866.0% during the 1st quarter. BlackRock Inc. now owns 42,708,918 shares of the utilities provider’s stock worth $3,502,557,000 after buying an additional 41,268,968 shares during the last quarter. Norinchukin Bank The grew its stake in Duke Energy Corporation by 5.9% during the 1st quarter. Norinchukin Bank The now owns 81,297 shares of the utilities provider’s stock worth $6,667,000 after buying an additional 4,531 shares during the last quarter. IBM Retirement Fund grew its stake in Duke Energy Corporation by 122.4% during the 2nd quarter. IBM Retirement Fund now owns 17,136 shares of the utilities provider’s stock worth $1,601,000 after buying an additional 9,432 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in Duke Energy Corporation by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 43,400 shares of the utilities provider’s stock worth $3,628,000 after buying an additional 400 shares during the last quarter. Finally, Meridian Wealth Management LLC grew its stake in Duke Energy Corporation by 2.0% during the 2nd quarter. Meridian Wealth Management LLC now owns 5,362 shares of the utilities provider’s stock worth $448,000 after buying an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 56.21% of the company’s stock.
Duke Energy Corporation Company Profile
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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