Todays Report: Today, Duke Energy Corp. (DUK) Price Target Cut to $83.00

Today, Duke Energy Corp. (DUK) Price Target Cut to $83.00

Duke Energy Corp. (NYSE:DUK) had its price target cut by analysts at Howard Weil from $88.00 to $83.00 in a research report issued to clients and investors on Monday. The brokerage currently has a “sector perform” rating on the stock. Howard Weil’s target price would suggest a potential upside of 11.63% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. SunTrust Banks Inc. decreased their price objective on shares of Duke Energy Corp. from $82.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, September 12th. Mizuho raised their price objective on shares of Duke Energy Corp. from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, August 4th. Argus restated a “hold” rating on shares of Duke Energy Corp. in a report on Tuesday, July 26th. Scotiabank restated a “sector perform” rating and set a $88.00 price objective (up previously from $78.00) on shares of Duke Energy Corp. in a report on Wednesday, August 10th. Finally, Zacks Investment Research upgraded shares of Duke Energy Corp. from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a report on Tuesday, July 12th. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $79.73.

Shares of Duke Energy Corp. (NYSE:DUK) traded up 1.10% during mid-day trading on Monday, hitting $74.35. 1,972,203 shares of the stock were exchanged. Duke Energy Corp. has a 52 week low of $65.50 and a 52 week high of $87.75. The stock has a market capitalization of $51.22 billion, a price-to-earnings ratio of 17.99 and a beta of 0.13. The stock’s 50-day moving average is $76.87 and its 200-day moving average is $80.57.

Duke Energy Corp. (NYSE:DUK) last posted its quarterly earnings data on Friday, November 4th. The company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.10. Duke Energy Corp. had a net margin of 12.27% and a return on equity of 8.20%. The business earned $6.43 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the company posted $1.47 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. Analysts forecast that Duke Energy Corp. will post $4.67 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, November 18th will be given a dividend of $0.855 per share. The ex-dividend date is Wednesday, November 16th. This represents a $3.42 annualized dividend and a yield of 4.60%. Duke Energy Corp.’s payout ratio is presently 82.61%.

In related news, Director John H. Forsgren bought 1,000 shares of the company’s stock in a transaction on Wednesday, November 9th. The stock was acquired at an average cost of $77.80 per share, for a total transaction of $77,800.00. Following the completion of the transaction, the director now directly owns 1,165 shares in the company, valued at approximately $90,637. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Frank H. Yoho bought 14,850 shares of the company’s stock in a transaction on Friday, November 18th. The shares were bought at an average price of $74.00 per share, with a total value of $1,098,900.00. Following the completion of the transaction, the executive vice president now owns 23,687 shares of the company’s stock, valued at $1,752,838. The disclosure for this purchase can be found here. Company insiders own 0.08% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Prudential PLC raised its stake in shares of Duke Energy Corp. by 58.1% in the first quarter. Prudential PLC now owns 6,394 shares of the company’s stock valued at $516,000 after buying an additional 2,350 shares during the last quarter. Hancock Holding Co. raised its stake in shares of Duke Energy Corp. by 41.5% in the first quarter. Hancock Holding Co. now owns 9,891 shares of the company’s stock worth $798,000 after buying an additional 2,899 shares during the last quarter. AMP Capital Investors Ltd raised its stake in shares of Duke Energy Corp. by 20.4% in the first quarter. AMP Capital Investors Ltd now owns 351,711 shares of the company’s stock worth $28,260,000 after buying an additional 59,627 shares during the last quarter. Williams Jones & Associates LLC raised its stake in shares of Duke Energy Corp. by 4.6% in the first quarter. Williams Jones & Associates LLC now owns 18,000 shares of the company’s stock worth $1,452,000 after buying an additional 793 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Duke Energy Corp. during the first quarter worth $9,290,000. Institutional investors and hedge funds own 56.89% of the company’s stock.

Duke Energy Corp. Company Profile

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