Duke Energy (NYSE:DUK) Sets New 52-Week High on Analyst Upgrade (2024)

Posted by Defense World Staff on May 21st, 2024

Duke Energy Co. (NYSE:DUK – Get Free Report)’s share price reached a new 52-week high on Monday after BMO Capital Markets raised their price target on the stock from $108.00 to $110.00. BMO Capital Markets currently has an outperform rating on the stock. Duke Energy traded as high as $103.93 and last traded at $103.55, with a volume of 108945 shares traded. The stock had previously closed at $103.89.

DUK has been the subject of a number of other research reports. Scotiabank cut their target price on shares of Duke Energy from $101.00 to $94.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Bank of America upped their price objective on shares of Duke Energy from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Wells Fargo & Company cut their price objective on shares of Duke Energy from $103.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. Mizuho upped their price objective on shares of Duke Energy from $89.00 to $99.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, Evercore ISI raised shares of Duke Energy from an “in-line” rating to an “outperform” rating and upped their target price for the company from $90.00 to $108.00 in a research note on Tuesday, January 23rd. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Duke Energy presently has an average rating of “Hold” and a consensus price target of $101.85.

Check Out Our Latest Analysis on Duke Energy

Insider Activity at Duke Energy

In related news, CEO Lynn J. Good sold 15,000 shares of the stock in a transaction that occurred 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 $45,190,031.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director E Marie Mckee sold 1,695 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $102.31, for a total transaction of $173,415.45. Following the completion of the sale, the director now owns 4 shares of the company’s stock, valued at $409.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lynn J. Good sold 15,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $103.30, for a total transaction of $1,549,500.00. Following the sale, the chief executive officer now directly owns 437,464 shares of the company’s stock, 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 over the last ninety days. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Duke Energy

Several large investors have recently made changes to their positions in DUK. Citizens Financial Group Inc. RI grew its position in Duke Energy by 4.7% in the first quarter. Citizens Financial Group Inc. RI now owns 7,040 shares of the utilities provider’s stock valued at $681,000 after purchasing an additional 316 shares in the last quarter. New Covenant Trust Company N.A. bought a new position in Duke Energy in the first quarter valued at $165,000. KLCM Advisors Inc. grew its position in Duke Energy by 2.9% in the first quarter. KLCM Advisors Inc. now owns 5,181 shares of the utilities provider’s stock valued at $501,000 after purchasing an additional 144 shares in the last quarter. Beacon Capital Management LLC grew its position in Duke Energy by 3.9% in the first quarter. Beacon Capital Management LLC now owns 3,524 shares of the utilities provider’s stock valued at $341,000 after purchasing an additional 132 shares in the last quarter. Finally, Hanco*ck Whitney Corp grew its position in shares of Duke Energy by 3.9% in the 1st quarter. Hanco*ck Whitney Corp now owns 4,361 shares of the utilities provider’s stock valued at $422,000 after acquiring an additional 163 shares during the period. Institutional investors own 65.31% of the company’s stock.

Duke Energy Trading Down 0.2 %

The business’s 50-day moving average price is $97.74 and its 200 day moving average price is $95.30. The company has a market cap of $80.02 billion, a P/E ratio of 26.05, a P/E/G ratio of 2.77 and a beta of 0.45. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.50 and a current ratio of 0.78.

Duke Energy (NYSE:DUK – Get Free Report) 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 net margin of 10.78% and a return on equity of 9.25%. The company had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.31 billion. During the same quarter last year, the firm posted $1.20 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, analysts expect that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 17th will be paid a dividend of $1.025 per share. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Thursday, May 16th. Duke Energy’s dividend payout ratio is presently 103.02%.

Duke Energy Company Profile

(Get Free Report)

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.

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