Royal Bank Of Canada Cuts Duke Energy (NYSE:DUK) Price Target to $140.00

Duke Energy (NYSE:DUK) had its target price reduced by stock analysts at Royal Bank Of Canada from $143.00 to $140.00 in a research note issued to investors on Friday,MarketScreener reports. The brokerage presently has a “sector perform” rating on the utilities provider’s stock. Royal Bank Of Canada’s target price points to a potential upside of 19.74% from the company’s previous close.

Several other analysts have also recently commented on the stock. Morgan Stanley reiterated an “underperform” rating and set a $130.00 target price on shares of Duke Energy in a research report on Wednesday. Mizuho upped their price target on Duke Energy from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Jefferies Financial Group decreased their price objective on shares of Duke Energy from $126.00 to $125.00 and set a “hold” rating for the company in a report on Wednesday, January 14th. Scotiabank increased their target price on shares of Duke Energy from $137.00 to $146.00 and gave the stock a “sector outperform” rating in a report on Tuesday, December 16th. Finally, UBS Group decreased their price target on shares of Duke Energy from $135.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Duke Energy currently has an average rating of “Moderate Buy” and an average target price of $134.94.

Duke Energy Price Performance

Duke Energy stock traded down $0.79 during mid-day trading on Friday, hitting $116.92. 265,866 shares of the company were exchanged, compared to its average volume of 3,464,835. Duke Energy has a 1-year low of $108.74 and a 1-year high of $130.03. The company has a quick ratio of 0.40, a current ratio of 0.63 and a debt-to-equity ratio of 1.54. The business has a fifty day moving average of $118.58 and a 200 day moving average of $121.38. The company has a market capitalization of $90.92 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.59 and a beta of 0.50.

Duke Energy (NYSE:DUK) last announced its earnings results on Thursday, November 6th. The utilities provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. Duke Energy had a net margin of 15.76% and a return on equity of 9.98%. The business had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.51 billion. During the same quarter last year, the company posted $1.62 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, sell-side analysts expect that Duke Energy will post 6.33 earnings per share for the current year.

Insider Activity

In other news, EVP Robert Alexander Glenn sold 8,200 shares of Duke Energy stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $123.80, for a total transaction of $1,015,160.00. Following the completion of the transaction, the executive vice president directly owned 11,367 shares in the company, valued at approximately $1,407,234.60. The trade was a 41.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Duke Energy

Several institutional investors and hedge funds have recently modified their holdings of DUK. Dorato Capital Management acquired a new position in Duke Energy in the 4th quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Duke Energy in the third quarter valued at approximately $27,000. Legacy Investment Solutions LLC bought a new position in shares of Duke Energy during the second quarter worth approximately $28,000. Mascoma Wealth Management LLC boosted its stake in Duke Energy by 53.7% in the 2nd quarter. Mascoma Wealth Management LLC now owns 249 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 87 shares during the period. Finally, Lodestone Wealth Management LLC acquired a new position in Duke Energy in the 4th quarter valued at $30,000. 65.31% of the stock is currently owned by institutional investors and hedge funds.

About Duke Energy

Duke Energy Corporation is a U.S.-based electric power holding company headquartered in Charlotte, North Carolina. The company’s core business is the generation, transmission and distribution of electricity to residential, commercial and industrial customers. Duke Energy operates a mix of regulated electric utilities and non-regulated energy businesses, providing essential energy infrastructure and services across multiple states.

Its operating activities include owning and operating generation assets across a portfolio that encompasses nuclear, natural gas, coal, hydroelectric and an expanding array of renewable resources, as well as battery storage and grid modernization projects.