Duke Energy (NYSE:DUK) Price Target Raised to $114.00 at KeyCorp

Duke Energy (NYSE:DUK) had its target price upped by KeyCorp from $112.00 to $114.00 in a report published on Monday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock. KeyCorp also issued estimates for Duke Energy’s Q2 2024 earnings at $1.01 EPS, Q3 2024 earnings at $1.90 EPS, Q4 2024 earnings at $1.65 EPS and FY2028 earnings at $7.54 EPS.

Several other research analysts also recently weighed in on the stock. Barclays upped their price objective on shares of Duke Energy from $99.00 to $102.00 and gave the stock an overweight rating in a report on Thursday, July 11th. Bank of America upped their target price on shares of Duke Energy from $96.00 to $100.00 and gave the stock a neutral rating in a report on Thursday, April 11th. BMO Capital Markets cut their price target on Duke Energy from $110.00 to $109.00 and set an outperform rating for the company in a research note on Thursday, July 11th. Morgan Stanley decreased their price objective on Duke Energy from $103.00 to $98.00 and set an equal weight rating for the company in a report on Monday, June 24th. Finally, Mizuho raised their target price on Duke Energy from $89.00 to $99.00 and gave the company a neutral rating in a report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $102.58.

Duke Energy Stock Performance

Shares of DUK opened at $108.61 on Monday. Duke Energy has a one year low of $83.06 and a one year high of $108.92. The company has a market cap of $83.82 billion, a PE ratio of 27.29, a P/E/G ratio of 2.95 and a beta of 0.45. The stock has a 50-day moving average of $102.62 and a 200-day moving average of $98.28. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.78 and a quick ratio of 0.50.

Duke Energy (NYSE:DUK) last announced its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.05. Duke Energy had a return on equity of 9.25% and a net margin of 10.78%. The firm had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $7.31 billion. During the same quarter last year, the firm posted $1.20 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that Duke Energy will post 5.97 EPS for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be paid a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Friday, August 16th. This is an increase from Duke Energy’s previous quarterly dividend of $1.03. Duke Energy’s dividend payout ratio is 103.02%.

Insider Transactions at Duke Energy

In related news, CEO Lynn J. Good sold 15,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $103.30, for a total transaction of $1,549,500.00. Following the completion of the transaction, the chief executive officer now owns 437,464 shares in the company, valued at $45,190,031.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Duke Energy news, Director E Marie Mckee sold 1,695 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $102.31, for a total value of $173,415.45. Following the sale, the director now directly owns 4 shares in the company, valued at $409.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Lynn J. Good sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $103.30, for a total value of $1,549,500.00. Following the transaction, the chief executive officer now directly owns 437,464 shares in the company, valued at approximately $45,190,031.20. The disclosure for this sale can be found here. Insiders have sold 26,695 shares of company stock worth $2,750,815 in the last ninety days. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Duke Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DUK. Advisor Resource Council bought a new position in Duke Energy in the 4th quarter worth approximately $246,000. SG Americas Securities LLC raised its stake in shares of Duke Energy by 229.1% during the 4th quarter. SG Americas Securities LLC now owns 36,209 shares of the utilities provider’s stock valued at $3,514,000 after purchasing an additional 25,206 shares during the period. Premier Path Wealth Partners LLC purchased a new stake in Duke Energy during the 4th quarter worth about $288,000. CoreCap Advisors LLC boosted its stake in Duke Energy by 3.0% in the 4th quarter. CoreCap Advisors LLC now owns 7,073 shares of the utilities provider’s stock worth $686,000 after purchasing an additional 205 shares during the period. Finally, CHURCHILL MANAGEMENT Corp grew its holdings in Duke Energy by 12.5% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 57,303 shares of the utilities provider’s stock valued at $5,561,000 after buying an additional 6,346 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors.

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.