Morgan Stanley Cuts Duke Energy (NYSE:DUK) Price Target to $124.00

Duke Energy (NYSE:DUK) had its price objective lowered by Morgan Stanley from $125.00 to $124.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.

Several other research analysts have also recently weighed in on the stock. BMO Capital Markets decreased their price objective on shares of Duke Energy from $128.00 to $123.00 and set an “outperform” rating on the stock in a research report on Thursday, April 10th. Raymond James Financial assumed coverage on shares of Duke Energy in a research report on Friday, June 13th. They set a “market perform” rating on the stock. Jefferies Financial Group lifted their price objective on shares of Duke Energy from $129.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Barclays increased their target price on Duke Energy from $111.00 to $123.00 and gave the company an “overweight” rating in a research note on Tuesday, April 8th. Finally, Citigroup lifted their price target on Duke Energy from $130.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $125.75.

Duke Energy Stock Performance

NYSE DUK opened at $115.42 on Wednesday. The company’s 50 day simple moving average is $117.95 and its two-hundred day simple moving average is $114.90. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.77 and a quick ratio of 0.50. Duke Energy has a 1 year low of $99.21 and a 1 year high of $125.27. The stock has a market capitalization of $89.71 billion, a PE ratio of 19.14, a P/E/G ratio of 2.86 and a beta of 0.37.

Duke Energy (NYSE:DUK) last released its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.17. Duke Energy had a net margin of 15.40% and a return on equity of 9.88%. The firm had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $7.70 billion. During the same quarter in the prior year, the firm posted $1.44 earnings per share. The business’s quarterly revenue was up 7.5% on a year-over-year basis. Analysts predict that Duke Energy will post 6.33 earnings per share for the current fiscal year.

Duke Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 16th were issued a $1.045 dividend. This represents a $4.18 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Friday, May 16th. Duke Energy’s dividend payout ratio is 69.32%.

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 the company. Brighton Jones LLC increased its holdings in Duke Energy by 11.6% during the 4th quarter. Brighton Jones LLC now owns 6,754 shares of the utilities provider’s stock valued at $728,000 after purchasing an additional 700 shares during the period. Sierra Ocean LLC bought a new stake in shares of Duke Energy in the 4th quarter worth approximately $31,000. Americana Partners LLC increased its stake in shares of Duke Energy by 2.9% during the fourth quarter. Americana Partners LLC now owns 4,807 shares of the utilities provider’s stock valued at $518,000 after buying an additional 135 shares during the period. Atria Wealth Solutions Inc. raised its holdings in shares of Duke Energy by 12.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 101,582 shares of the utilities provider’s stock valued at $10,945,000 after acquiring an additional 11,154 shares in the last quarter. Finally, Kestra Investment Management LLC lifted its stake in Duke Energy by 6.5% in the fourth quarter. Kestra Investment Management LLC now owns 1,937 shares of the utilities provider’s stock worth $209,000 after acquiring an additional 118 shares during the period. 65.31% of the stock is currently owned by 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.