Duke Energy Corporation (NYSE:DUK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Duke Energy Corporation (NYSE:DUK) have been given an average rating of “Moderate Buy” by the eighteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $137.56.

A number of equities analysts have recently commented on the stock. Truist Financial cut their target price on shares of Duke Energy from $138.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, August 17th. KeyCorp upgraded Duke Energy from a “sector weight” rating to an “overweight” rating and set a $139.00 price target for the company in a report on Thursday, July 23rd. Barclays cut their price objective on Duke Energy from $140.00 to $132.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. BTIG Research restated a “buy” rating on shares of Duke Energy in a research note on Thursday, July 23rd. Finally, Mizuho set a $136.00 target price on Duke Energy in a research report on Wednesday, August 5th.

Institutional Trading of Duke Energy

A number of hedge funds have recently made changes to their positions in DUK. QRG Capital Management Inc. grew its stake in shares of Duke Energy by 7.9% during the second quarter. QRG Capital Management Inc. now owns 180,200 shares of the utilities provider’s stock valued at $22,810,000 after acquiring an additional 13,141 shares in the last quarter. Andra AP fonden lifted its stake in shares of Duke Energy by 41.2% in the second quarter. Andra AP fonden now owns 44,200 shares of the utilities provider’s stock worth $5,595,000 after acquiring an additional 12,900 shares in the last quarter. Security National Bank of Sioux City Iowa IA purchased a new position in Duke Energy in the second quarter valued at about $152,000. Core Capital Management & Research inc. acquired a new stake in Duke Energy during the 2nd quarter valued at approximately $857,000. Finally, Sequoia Financial Advisors LLC grew its stake in Duke Energy by 3.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 56,447 shares of the utilities provider’s stock valued at $7,145,000 after purchasing an additional 1,682 shares in the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Price Performance

DUK stock opened at $113.37 on Friday. The stock has a 50-day moving average price of $122.06 and a two-hundred day moving average price of $125.24. Duke Energy has a 12-month low of $112.52 and a 12-month high of $134.49. The company has a current ratio of 0.66, a quick ratio of 0.43 and a debt-to-equity ratio of 1.47. The company has a market cap of $88.39 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 2.64 and a beta of 0.37.

Duke Energy (NYSE:DUK) last released its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.13. The company had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.66 billion. Duke Energy had a return on equity of 9.78% and a net margin of 15.78%.During the same period last year, the business posted $1.25 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, research analysts predict that Duke Energy will post 6.72 EPS for the current year.

Duke Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th were issued a $1.0850 dividend. The ex-dividend date was Friday, August 14th. This represents a $4.34 dividend on an annualized basis and a yield of 3.8%. This is a boost from Duke Energy’s previous quarterly dividend of $1.0650. Duke Energy’s dividend payout ratio (DPR) is currently 65.17%.

Duke Energy News Summary

Here are the key news stories impacting Duke Energy this week:

• Positive Sentiment: Duke Energy was awarded $50 million in federal funding to upgrade and strengthen the Carolinas power grid. The grant should help offset capital costs while improving reliability and potentially lowering customer costs, a constructive development for the regulated utility’s long-term investment program. Duke Energy granted $50 million to help improve power grid in the Carolinas
• Positive Sentiment: Recent comparisons highlight Duke Energy’s appeal as an income-oriented utility, citing its relatively cheaper valuation, higher dividend yield and slightly lower debt than some peers. Rising electricity demand from data centers and broader grid investment could provide additional growth opportunities. NextEra Energy vs. Duke Energy
• Neutral Sentiment: Duke Energy appointed Joyce Mullen to its board, effective Sept. 28. She will serve on the Audit Committee and Operations and Nuclear Oversight Committee. The appointment strengthens board oversight but is not expected to materially change near-term earnings. Duke Energy board appoints Joyce Mullen
• Neutral Sentiment: The Duke Energy Foundation is awarding $100,000 to Florida nonprofits supporting career readiness, leadership development and entrepreneurship. The initiative may support community relations, but its financial impact on Duke Energy is immaterial. Duke Energy Foundation awards $100,000
• Negative Sentiment: Duke’s plans to add more natural-gas generation to serve data-center demand are drawing criticism. Although the strategy could support load growth, it also raises concerns about construction costs, emissions, fuel-price exposure and potential pressure on customer bills. Duke Energy plans more gas power

Duke Energy Company Profile

Duke Energy Corporation is an electric and natural gas utility holding company headquartered in Charlotte, North Carolina. The company generates, transmits, distributes and sells electricity, with a generation portfolio that includes natural gas, nuclear, coal, hydroelectric and renewable energy resources. It also operates natural gas distribution businesses and provides related energy services.

Duke Energy’s regulated electric utilities serve residential, commercial and industrial customers across the Carolinas, Florida, Indiana, Ohio and Kentucky.