Duke Energy (NYSE:DUK) Price Target Raised to $142.00

Duke Energy (NYSE:DUK) had its price objective upped by Citigroup from $130.00 to $142.00 in a research report released on Wednesday morning, Marketbeat reports. Citigroup currently has a buy rating on the utilities provider’s stock.

Other equities analysts have also recently issued research reports about the company. UBS Group boosted their price objective on Duke Energy from $123.00 to $127.00 and gave the company a “neutral” rating in a report on Friday, March 21st. BMO Capital Markets reduced their price target on shares of Duke Energy from $128.00 to $123.00 and set an “outperform” rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company boosted their price objective on shares of Duke Energy from $127.00 to $138.00 and gave the company an “overweight” rating in a research report on Wednesday. Jefferies Financial Group lifted their price target on shares of Duke Energy from $129.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Barclays raised their price objective on Duke Energy from $111.00 to $123.00 and gave the stock an “overweight” rating in a report on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Duke Energy currently has an average rating of “Moderate Buy” and an average price target of $126.00.

Duke Energy Stock Performance

NYSE:DUK opened at $120.31 on Wednesday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.44 and a current ratio of 0.67. Duke Energy has a fifty-two week low of $99.21 and a fifty-two week high of $125.27. The firm has a market capitalization of $93.51 billion, a PE ratio of 21.07, a PEG ratio of 2.79 and a beta of 0.39. The stock’s fifty day moving average is $119.48 and its 200 day moving average is $114.64.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $1.76 EPS for the quarter, beating the consensus estimate of $1.59 by $0.17. The company had revenue of $8.25 billion for the quarter, compared to the consensus estimate of $7.70 billion. Duke Energy had a net margin of 14.90% and a return on equity of 9.50%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.44 EPS. On average, sell-side analysts anticipate that Duke Energy will post 6.33 earnings per share for the current year.

Duke Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 16th will be paid a $1.045 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $4.18 annualized dividend and a yield of 3.47%. Duke Energy’s dividend payout ratio (DPR) is 69.32%.

Hedge Funds Weigh In On Duke Energy

A number of large investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its position in Duke Energy by 4.1% during the 3rd quarter. Principal Financial Group Inc. now owns 960,178 shares of the utilities provider’s stock worth $110,709,000 after purchasing an additional 37,453 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Duke Energy by 9.6% during the fourth quarter. Diversified Trust Co now owns 7,819 shares of the utilities provider’s stock valued at $843,000 after buying an additional 688 shares during the last quarter. Peoples Bank KS increased its position in shares of Duke Energy by 17.7% in the 4th quarter. Peoples Bank KS now owns 2,765 shares of the utilities provider’s stock valued at $298,000 after acquiring an additional 416 shares during the period. Park National Corp OH lifted its position in Duke Energy by 0.8% during the 4th quarter. Park National Corp OH now owns 16,347 shares of the utilities provider’s stock worth $1,761,000 after acquiring an additional 125 shares during the period. Finally, Douglas Lane & Associates LLC grew its stake in Duke Energy by 9.1% during the 4th quarter. Douglas Lane & Associates LLC now owns 3,748 shares of the utilities provider’s stock valued at $404,000 after purchasing an additional 314 shares during the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.

About Duke Energy

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.