Duke Energy Corp. (NYSE:DUK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Being a premier utility service provider, Duke Energy invests heavily in infrastructure and expansion projects. The company has undertaken several projects and plans to invest about $25 billion to $30 billion in growth projects over the 2016-2020 time frame. Further, we appreciate Duke Energy’s efforts to expand its renewable asset base in light of increasingly stringent environmental regulations. Going ahead, stringent environmental regulations, pending regulatory cases, volatile commodity prices, severe weather patterns and foreign exchange risks may hinder Duke Energy’s performance. That said, the company’s stable regulated operations, the Piedmont Natural Gas acquisition, a systematic capital investment program, renewable asset expansion and organized transition toward a more focused business mix will likely provide tailwinds.”
Several other brokerages also recently commented on DUK. Mizuho restated a “neutral” rating and issued a $75.00 target price on shares of Duke Energy Corp. in a research note on Thursday, June 30th. Scotiabank reaffirmed a “sector perform” rating and issued a $88.00 price target (up from $78.00) on shares of Duke Energy Corp. in a report on Wednesday, August 10th. Argus reaffirmed a “hold” rating on shares of Duke Energy Corp. in a report on Wednesday, September 14th. SunTrust Banks Inc. cut their price target on Duke Energy Corp. from $82.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, September 12th. Finally, Citigroup Inc. lifted their price target on Duke Energy Corp. from $72.00 to $82.00 and gave the company a “neutral” rating in a report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $80.57.
Shares of Duke Energy Corp. (NYSE:DUK) traded down 1.76% on Tuesday, hitting $77.70. 1,622,167 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $80.61 and its 200 day moving average price is $81.26. Duke Energy Corp. has a 1-year low of $65.50 and a 1-year high of $87.75. The company has a market cap of $53.53 billion, a price-to-earnings ratio of 20.54 and a beta of 0.13.
Duke Energy Corp. (NYSE:DUK) last issued its earnings results on Thursday, August 4th. The company reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.06. Duke Energy Corp. had a net margin of 11.39% and a return on equity of 7.85%. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the previous year, the company earned $0.95 EPS. On average, equities research analysts expect that Duke Energy Corp. will post $4.59 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 12th were given a dividend of $0.855 per share. This is a positive change from Duke Energy Corp.’s previous quarterly dividend of $0.83. This represents a $3.42 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Wednesday, August 10th. Duke Energy Corp.’s payout ratio is presently 90.24%.
In related news, EVP Douglas F. Esamann sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $84.58, for a total value of $253,740.00. Following the completion of the transaction, the executive vice president now directly owns 50,609 shares in the company, valued at approximately $4,280,509.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.08% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. raised its position in shares of Duke Energy Corp. by 3.9% in the first quarter. Prudential Financial Inc. now owns 1,123,024 shares of the company’s stock valued at $90,606,000 after buying an additional 42,368 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in shares of Duke Energy Corp. by 3.6% in the first quarter. Stratos Wealth Partners LTD. now owns 19,891 shares of the company’s stock valued at $1,605,000 after buying an additional 682 shares in the last quarter. Teachers Advisors Inc. raised its position in shares of Duke Energy Corp. by 4.2% in the first quarter. Teachers Advisors Inc. now owns 1,288,798 shares of the company’s stock valued at $103,980,000 after buying an additional 52,019 shares in the last quarter. Ngam Advisors L.P. raised its position in shares of Duke Energy Corp. by 7.4% in the first quarter. Ngam Advisors L.P. now owns 57,436 shares of the company’s stock valued at $4,634,000 after buying an additional 3,979 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Duke Energy Corp. by 0.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 200,262 shares of the company’s stock valued at $16,157,000 after buying an additional 622 shares in the last quarter. Institutional investors and hedge funds own 56.56% of the company’s stock.
Duke Energy Corp. Company Profile
Duke Energy Corporation (Duke Energy) is an energy company. The Company’s segments include Regulated Utilities, International Energy and Commercial Portfolio. Duke Energy’s subsidiaries include its subsidiary registrants: Duke Energy Carolinas, LLC (Duke Energy Carolinas); Progress Energy, Inc (Progress Energy); Duke Energy Progress, LLC (Duke Energy Progress); Duke Energy Florida, LLC (Duke Energy Florida); Duke Energy Ohio, Inc (Duke Energy Ohio), and Duke Energy Indiana, Inc (Duke Energy Indiana).
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