Barclays Boosts Duke Energy (NYSE:DUK) Price Target to $118.00

Duke Energy (NYSE:DUK) had its price objective lifted by Barclays from $102.00 to $118.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Duke Energy from $111.00 to $120.00 and gave the company a neutral rating in a report on Monday, August 12th. The Goldman Sachs Group boosted their target price on Duke Energy from $102.00 to $113.00 and gave the stock a neutral rating in a research note on Monday, August 12th. Scotiabank boosted their target price on Duke Energy from $104.00 to $113.00 and gave the stock a sector perform rating in a research note on Tuesday, August 20th. Bank of America boosted their target price on Duke Energy from $116.00 to $118.00 and gave the stock a neutral rating in a research note on Thursday, August 29th. Finally, Wells Fargo & Company boosted their target price on Duke Energy from $110.00 to $122.00 and gave the stock an overweight rating in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $118.21.

Duke Energy Trading Down 0.8 %

Shares of NYSE:DUK opened at $115.76 on Tuesday. Duke Energy has a 12-month low of $83.06 and a 12-month high of $118.31. The business’s fifty day simple moving average is $114.16 and its 200-day simple moving average is $105.16. The company has a market capitalization of $89.34 billion, a PE ratio of 29.09, a P/E/G ratio of 3.22 and a beta of 0.46. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.56.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. The business had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $6.84 billion. During the same period last year, the business posted $0.91 EPS. The business’s revenue was up 9.0% compared to the same quarter last year. As a group, equities research analysts predict that Duke Energy will post 5.97 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were issued a dividend of $1.045 per share. This represents a $4.18 annualized dividend and a dividend yield of 3.61%. This is a positive change from Duke Energy’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, August 16th. Duke Energy’s payout ratio is 105.03%.

Insider Activity

In other news, EVP Louis E. Renjel sold 540 shares of Duke Energy stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $113.64, for a total transaction of $61,365.60. Following the completion of the transaction, the executive vice president now directly owns 19,884 shares of the company’s stock, valued at approximately $2,259,617.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Duke Energy

Institutional investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new stake in Duke Energy in the 1st quarter worth $25,000. Fortitude Family Office LLC increased its holdings in Duke Energy by 69.6% in the 2nd quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 119 shares in the last quarter. Olistico Wealth LLC purchased a new stake in Duke Energy in the 2nd quarter worth $30,000. Riverview Trust Co purchased a new stake in Duke Energy in the 1st quarter worth $30,000. Finally, Sachetta LLC increased its holdings in Duke Energy by 41.9% in the 2nd quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 96 shares in the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Company Profile

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.