Duke Energy (NYSE:DUK) Price Target Raised to $141.00

Duke Energy (NYSE:DUK) had its price objective boosted by JPMorgan Chase & Co. from $136.00 to $141.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the utilities provider’s stock.

Several other analysts also recently issued reports on DUK. Mizuho reduced their price objective on Duke Energy from $139.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, June 18th. Evercore boosted their target price on shares of Duke Energy from $139.00 to $140.00 in a research note on Monday, May 11th. BMO Capital Markets reduced their target price on shares of Duke Energy from $139.00 to $138.00 in a report on Wednesday, May 6th. Barclays decreased their price target on shares of Duke Energy from $143.00 to $134.00 and set an “overweight” rating on the stock in a research note on Thursday, June 18th. Finally, Truist Financial lowered their price target on shares of Duke Energy from $142.00 to $137.00 and set a “buy” rating for the company in a report on Monday, May 18th. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.73.

Duke Energy Trading Down 0.9%

Shares of Duke Energy stock opened at $125.04 on Thursday. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.66 and a quick ratio of 0.44. Duke Energy has a 1 year low of $113.89 and a 1 year high of $134.49. The company has a market capitalization of $97.48 billion, a P/E ratio of 19.15, a P/E/G ratio of 2.75 and a beta of 0.38. The business has a 50 day moving average price of $124.89 and a 200 day moving average price of $125.42.

Duke Energy (NYSE:DUK) last announced its earnings results on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.06. The firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.44 billion. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.Duke Energy’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.76 EPS. Sell-side analysts anticipate that Duke Energy will post 6.72 EPS for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be paid a $1.085 dividend. The ex-dividend date is Friday, August 14th. This is an increase from Duke Energy’s previous quarterly dividend of $1.06. This represents a $4.34 annualized dividend and a yield of 3.5%. Duke Energy’s payout ratio is currently 66.46%.

Insider Activity

In other news, CEO Louis E. Renjel sold 3,500 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $125.15, for a total transaction of $438,025.00. Following the completion of the transaction, the chief executive officer owned 21,415 shares of the company’s stock, valued at $2,680,087.25. This represents a 14.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Harry K. Sideris sold 20,000 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the transaction, the chief executive officer owned 96,102 shares in the company, 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. Corporate insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Duke Energy

A number of institutional investors have recently added to or reduced their stakes in the company. Basso Capital Management L.P. purchased a new position in shares of Duke Energy in the 4th quarter valued at $25,000. Dorato Capital Management purchased a new stake in Duke Energy during the 4th quarter worth $26,000. Evolution Wealth Management Inc. increased its holdings in Duke Energy by 1,111.1% in the 4th quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. KERR FINANCIAL PLANNING Corp purchased a new position in Duke Energy in the third quarter valued at about $27,000. Finally, Triumph Capital Management raised its position in Duke Energy by 68.6% in the fourth quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 94 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Key Duke Energy News

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

• Positive Sentiment: Truist raised its price target on Duke Energy to $138 and reiterated a Buy rating, signaling confidence in the utility’s earnings outlook and suggesting meaningful upside from current levels. Benzinga report on Truist rating update
• Positive Sentiment: JPMorgan also lifted its price target to $141, even while keeping a Neutral rating, which still reflects expectations for solid longer-term value creation. Benzinga report on JPMorgan target increase
• Positive Sentiment: Recent commentary highlighted Duke Energy as one of the utilities best positioned for long-term growth thanks to its strong customer base and large capital expenditure program, with analysts pointing to contracted load and new demand from data centers as supportive of future earnings. Seeking Alpha article
• Neutral Sentiment: Duke Energy is expected to report second-quarter results next month, and analysts are looking for a modest earnings increase, keeping attention on whether the company can deliver on its growth plans. Barchart article
• Neutral Sentiment: Local coverage suggests Clearwater may renew its long-term electricity contract with Duke Energy, which would help preserve customer relationships and support revenue stability. Yahoo Finance article
• Negative Sentiment: North Carolina’s attorney general is challenging proposed Duke Energy Progress rate increases, adding another regulatory hurdle that could limit future pricing power and earnings growth. MSN article
• Negative Sentiment: Additional reports say AG Jeff Jackson is seeking to block nearly $1 billion in Duke Energy rate hikes over the next two years, reinforcing investor concerns about regulatory pushback on returns. Yahoo News article

Duke Energy Company Profile

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.