Duke Energy (NYSE:DUK – Get Free Report) had its price objective lifted by investment analysts at JPMorgan Chase & Co. from $136.00 to $141.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 12.21% from the company’s current price.
DUK has been the subject of several other reports. BTIG Research restated a “buy” rating and issued a $139.00 price target on shares of Duke Energy in a report on Tuesday, June 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Duke Energy in a research report on Monday, May 4th. Evercore raised their target price on shares of Duke Energy from $139.00 to $140.00 in a report on Monday, May 11th. Capitol Sec Mgt lowered shares of Duke Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Finally, Jefferies Financial Group reduced their price target on shares of Duke Energy from $143.00 to $138.00 in a report on Monday, May 11th. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Duke Energy presently has a consensus rating of “Moderate Buy” and an average target price of $138.67.
Get Our Latest Stock Analysis on DUK
Duke Energy Trading Up 1.1%
Duke Energy (NYSE:DUK – Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.06. The company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.76 EPS. As a group, research analysts forecast that Duke Energy will post 6.71 EPS for the current fiscal year.
Insider Buying and Selling
In other news, CEO Harry K. Sideris sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the completion of the transaction, the chief executive officer directly owned 96,102 shares of the company’s stock, valued at $11,952,205.74. This trade represents a 17.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Louis E. Renjel sold 3,500 shares of Duke Energy stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $125.15, for a total transaction of $438,025.00. Following the completion of the sale, the chief executive officer owned 21,415 shares in the company, valued at $2,680,087.25. This trade represents a 14.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.12% of the company’s stock.
Institutional Trading of Duke Energy
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Basso Capital Management L.P. bought a new position in Duke Energy in the fourth quarter valued at approximately $25,000. Dorato Capital Management bought a new stake in shares of Duke Energy during the 4th quarter worth approximately $26,000. Evolution Wealth Management Inc. boosted its holdings in shares of Duke Energy by 1,111.1% in the 4th quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. KERR FINANCIAL PLANNING Corp bought a new position in shares of Duke Energy in the third quarter valued at $27,000. Finally, Triumph Capital Management grew its stake in shares of Duke Energy by 68.6% in the fourth quarter. Triumph Capital Management now owns 231 shares of the utilities provider’s stock valued at $27,000 after buying an additional 94 shares in the last quarter. Institutional investors own 65.31% of the company’s stock.
Key Stories Impacting Duke Energy
Here are the key news stories impacting Duke Energy this week:
- Positive Sentiment: Duke Energy raised its quarterly dividend to $1.085 per share, a 1.9% increase from the prior payout, reinforcing its appeal as a defensive income stock. Duke Energy announces dividend payments to shareholders
- Positive Sentiment: Analysts expect Duke Energy’s next quarterly report to show another earnings increase, suggesting the utility’s core business remains on a steady growth path. What to Expect From Duke Energy’s Next Quarterly Earnings Report
- Positive Sentiment: A Bank of America note kept DUK at Hold but highlighted solid growth prospects and a price target above the current trading range, signaling continued confidence in long-term fundamentals. Balanced Risk-Reward Keeps Duke Energy Rated Hold Amid Solid Growth Prospects and Regulatory, Financing Headwinds
- Neutral Sentiment: Duke Energy Florida launched an EnergyWise Home program that offers bill credits to customers, which supports customer relations but has limited direct near-term impact on earnings. Sign up, sit back, save: Duke Energy Florida program offers bill credits with minimal requirements, little effort needed from customers
- Neutral Sentiment: A report that contracted load makes Duke Energy’s growth plan more credible may have helped support investor confidence, though it is not a formal company announcement. Duke Energy: Contracted Load Makes The Growth Plan More Credible
- Negative Sentiment: North Carolina officials are challenging Duke Energy Progress’s proposed rate increases, adding regulatory uncertainty around a key driver of future earnings. NC attorney general challenges Duke Energy Progress rate increase for eastern NC customers
- Negative Sentiment: Separate reports said the attorney general is seeking to block nearly $1 billion in Duke Energy rate hikes over the next two years, which could pressure revenue growth if regulators push back. AG Jeff Jackson seeks to block nearly $1B in Duke Energy rate hikes over the next 2 years
About Duke Energy
Duke Energy Corporation is a U.S.-based electric power holding company headquartered in Charlotte, North Carolina. The company’s core business is the generation, transmission and distribution of electricity to residential, commercial and industrial customers. Duke Energy operates a mix of regulated electric utilities and non-regulated energy businesses, providing essential energy infrastructure and services across multiple states.
Its operating activities include owning and operating generation assets across a portfolio that encompasses nuclear, natural gas, coal, hydroelectric and an expanding array of renewable resources, as well as battery storage and grid modernization projects.
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