JPMorgan Chase & Co. Cuts Duke Energy (NYSE:DUK) Price Target to $136.00

Duke Energy (NYSE:DUK) had its target price decreased by JPMorgan Chase & Co. from $139.00 to $136.00 in a research report sent to investors on Wednesday, MarketBeat.com reports. JPMorgan Chase & Co. currently has a neutral rating on the utilities provider’s stock.

DUK has been the topic of a number of other research reports. BMO Capital Markets decreased their price target on shares of Duke Energy from $139.00 to $138.00 in a report on Wednesday, May 6th. Capitol Sec Mgt lowered shares of Duke Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Mizuho lifted their price target on shares of Duke Energy from $130.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. UBS Group decreased their price target on shares of Duke Energy from $137.00 to $135.00 in a report on Monday, May 11th. Finally, Wells Fargo & Company lifted their price target on shares of Duke Energy from $135.00 to $136.00 and gave the company an “equal weight” rating in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $140.00.

Duke Energy Stock Down 2.7%

Shares of NYSE DUK opened at $120.98 on Wednesday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.44 and a current ratio of 0.66. The firm has a market cap of $94.31 billion, a P/E ratio of 18.53 and a beta of 0.41. Duke Energy has a 1 year low of $113.39 and a 1 year high of $134.49. The firm’s 50 day moving average price is $128.90 and its 200 day moving average price is $124.06.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.06. The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. Duke Energy’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the business earned $1.76 EPS. As a group, sell-side analysts anticipate that Duke Energy will post 6.7 earnings per share for the current year.

Duke Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Friday, May 15th will be paid a $1.065 dividend. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, May 15th. Duke Energy’s dividend payout ratio (DPR) is currently 65.24%.

Insider Activity

In other news, SVP Regis T. Repko sold 962 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $127.86, for a total value of $123,001.32. Following the transaction, the senior vice president owned 3,896 shares of the company’s stock, valued at approximately $498,142.56. This trade represents a 19.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Harry K. Sideris sold 20,000 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the sale, the chief executive officer directly owned 96,102 shares of the company’s stock, valued at approximately $11,952,205.74. The trade was a 17.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 24,462 shares of company stock valued at $3,048,426. Company insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Clough Capital Partners L P grew its holdings in Duke Energy by 13.4% during the 1st quarter. Clough Capital Partners L P now owns 60,522 shares of the utilities provider’s stock worth $7,925,000 after acquiring an additional 7,170 shares in the last quarter. Jessup Wealth Management Inc boosted its holdings in shares of Duke Energy by 17.3% in the 1st quarter. Jessup Wealth Management Inc now owns 2,033 shares of the utilities provider’s stock valued at $266,000 after buying an additional 300 shares during the period. Cardiff Park Advisors LLC acquired a new position in shares of Duke Energy in the 1st quarter valued at about $303,000. Gateway Wealth Partners LLC boosted its holdings in shares of Duke Energy by 305.9% in the 1st quarter. Gateway Wealth Partners LLC now owns 13,635 shares of the utilities provider’s stock valued at $1,785,000 after buying an additional 10,276 shares during the period. Finally, Cypress Capital Group boosted its holdings in shares of Duke Energy by 6.3% in the 1st quarter. Cypress Capital Group now owns 33,899 shares of the utilities provider’s stock valued at $4,439,000 after buying an additional 1,997 shares during the period. 65.31% of the stock is owned by institutional investors and hedge funds.

Duke Energy News Summary

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

• Positive Sentiment: Duke Energy held a groundbreaking ceremony for its Cayuga Energy Complex, signaling continued investment in its generation and infrastructure buildout, which can support future regulated-rate growth. Duke Energy holds a groundbreaking ceremony for their Cayuga Energy Complex
• Positive Sentiment: The company reported that no toxic algae was found at the Lake Norman site after an earlier state finding, which may reduce environmental and reputational concerns. Duke Energy: No toxic algae found at Lake Norman site where state said it was
• Neutral Sentiment: DUK remains a heavily watched stock, with investor attention likely reflecting interest in its defensive utility profile and upcoming rate/regulatory developments. Duke Energy Corporation (DUK) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Reports that Duke Energy’s North Carolina rate-increase hearing was postponed could delay a key catalyst for earnings and cash-flow improvement, but the impact is still uncertain. Duke Energy rate-increase hearing postponed over missed scheduling deadline
• Neutral Sentiment: The company’s claims that a merger will save customers $2.3 billion and news about combining its two North Carolina utilities may help long-term efficiency, but investors are likely waiting to see regulatory details. Duke Energy claims merger to save customers $2.3 billion, double initial estimate
• Negative Sentiment: Questions around North Carolina policy and legal issues tied to Duke Energy’s solar plans could add uncertainty to future capital spending and regulatory approval. Shunning the sunshine? NC order for Duke Energy to hit brakes on solar raises policy, legal questions

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.