Morgan Stanley Raises Duke Energy (DUK) Price Target to $91.00
Duke Energy (NYSE:DUK) had its price target boosted by Morgan Stanley from $86.00 to $91.00 in a report issued on Tuesday morning. Morgan Stanley currently has a hold rating on the utilities provider’s stock.
DUK has been the topic of a number of other research reports. Howard Weil started coverage on shares of Duke Energy in a research report on Tuesday, July 24th. They issued a sector outperform rating and a $85.00 price target on the stock. ValuEngine lowered shares of Duke Energy from a hold rating to a sell rating in a research report on Thursday, May 17th. Zacks Investment Research lowered shares of Duke Energy from a hold rating to a sell rating in a research report on Wednesday, July 11th. JPMorgan Chase & Co. dropped their target price on shares of Duke Energy from $77.00 to $72.00 and set an underweight rating on the stock in a research report on Thursday, June 7th. Finally, Scotiabank began coverage on shares of Duke Energy in a research report on Tuesday, July 24th. They set a buy rating and a $85.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $84.00.
NYSE:DUK opened at $81.70 on Tuesday. Duke Energy has a 12 month low of $71.96 and a 12 month high of $91.80. The company has a market capitalization of $57.62 billion, a PE ratio of 17.88, a PEG ratio of 3.69 and a beta of 0.04. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.41 and a current ratio of 0.66.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Investors of record on Friday, August 17th will be given a dividend of $0.9275 per share. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $3.71 dividend on an annualized basis and a yield of 4.54%. This is a positive change from Duke Energy’s previous quarterly dividend of $0.89. Duke Energy’s payout ratio is 81.18%.
In other Duke Energy news, COO Dhiaa M. Jamil sold 7,000 shares of the business’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $80.98, for a total value of $566,860.00. Following the sale, the chief operating officer now owns 4,279 shares of the company’s stock, valued at approximately $346,513.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Dhiaa M. Jamil sold 4,279 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $81.54, for a total transaction of $348,909.66. The disclosure for this sale can be found here. Insiders have sold 11,779 shares of company stock worth $956,650 in the last ninety days. 0.07% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in DUK. Wells Fargo & Company MN increased its holdings in Duke Energy by 3.2% in the 1st quarter. Wells Fargo & Company MN now owns 3,667,525 shares of the utilities provider’s stock valued at $284,122,000 after buying an additional 114,386 shares during the period. Centaurus Financial Inc. bought a new stake in Duke Energy in the 1st quarter valued at $177,000. Keeler Thomas Management LLC increased its holdings in Duke Energy by 11.3% in the 1st quarter. Keeler Thomas Management LLC now owns 13,607 shares of the utilities provider’s stock valued at $1,054,000 after buying an additional 1,385 shares during the period. Focused Wealth Management Inc boosted its stake in shares of Duke Energy by 526.5% in the 1st quarter. Focused Wealth Management Inc now owns 2,832 shares of the utilities provider’s stock valued at $219,000 after purchasing an additional 2,380 shares in the last quarter. Finally, Hyman Charles D boosted its stake in shares of Duke Energy by 1.1% in the 1st quarter. Hyman Charles D now owns 145,302 shares of the utilities provider’s stock valued at $11,257,000 after purchasing an additional 1,560 shares in the last quarter. 58.71% of the stock is currently owned by hedge funds and other institutional investors.
Duke Energy Company Profile
Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; uses coal, hydroelectric, natural gas, oil, renewable sources, and nuclear fuel to generate electricity; and engages in the wholesale of electricity to municipalities, electric cooperative utilities, and other load-serving entities.
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