Duke Energy (NYSE:DUK) Sets New 52-Week Low – Time to Sell?

Duke Energy Corporation (NYSE:DUK – Get Free Report)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $113.82 and last traded at $114.0950, with a volume of 764966 shares trading hands. The stock had previously closed at $114.17.

Duke Energy News Summary

Here are the key news stories impacting Duke Energy this week:

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DUK. Barclays decreased their price objective on shares of Duke Energy from $140.00 to $132.00 and set an “overweight” rating for the company in a research report on Wednesday, August 5th. BMO Capital Markets cut their price objective on Duke Energy from $134.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, August 5th. Truist Financial reduced their target price on Duke Energy from $138.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, August 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Duke Energy in a report on Friday, July 31st. Finally, Wall Street Zen lowered shares of Duke Energy from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Ten research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $137.56.

Read Our Latest Stock Analysis on DUK

Duke Energy Stock Performance

The firm has a market capitalization of $88.85 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 2.71 and a beta of 0.37. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.66 and a quick ratio of 0.43. The firm has a 50 day moving average price of $122.55 and a 200-day moving average price of $125.46.

Duke Energy (NYSE:DUK – Get Free Report) last issued its earnings results on Monday, August 3rd. The utilities provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.13. Duke Energy had a net margin of 15.78% and a return on equity of 9.78%. The firm had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter last year, the company earned $1.25 earnings per share. The firm’s revenue was up 1.1% compared to the same quarter last year. As a group, sell-side analysts expect that Duke Energy Corporation will post 6.72 earnings per share for the current fiscal year.

Duke Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Friday, August 14th were given a dividend of $1.085 per share. This is a boost from Duke Energy’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Friday, August 14th. This represents a $4.34 annualized dividend and a dividend yield of 3.8%. Duke Energy’s dividend payout ratio is 65.17%.

Hedge Funds Weigh In On Duke Energy

Hedge funds have recently made changes to their positions in the company. QRG Capital Management Inc. increased its position in shares of Duke Energy by 7.9% during the second quarter. QRG Capital Management Inc. now owns 180,200 shares of the utilities provider’s stock worth $22,810,000 after purchasing an additional 13,141 shares in the last quarter. Andra AP fonden increased its position in Duke Energy by 41.2% during the second quarter. Andra AP fonden now owns 44,200 shares of the utilities provider’s stock worth $5,595,000 after buying an additional 12,900 shares during the period. Security National Bank of Sioux City Iowa IA purchased a new stake in Duke Energy in the second quarter valued at approximately $152,000. Core Capital Management & Research inc. acquired a new stake in shares of Duke Energy in the second quarter valued at approximately $857,000. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Duke Energy by 3.1% in the second quarter. Sequoia Financial Advisors LLC now owns 56,447 shares of the utilities provider’s stock valued at $7,145,000 after acquiring an additional 1,682 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Duke Energy Company Profile

(Get Free Report)

Duke Energy Corporation is an electric and natural gas utility holding company headquartered in Charlotte, North Carolina. The company generates, transmits, distributes and sells electricity, with a generation portfolio that includes natural gas, nuclear, coal, hydroelectric and renewable energy resources. It also operates natural gas distribution businesses and provides related energy services.

Duke Energy’s regulated electric utilities serve residential, commercial and industrial customers across the Carolinas, Florida, Indiana, Ohio and Kentucky.

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