Morgan Stanley Cuts Duke Energy (NYSE:DUK) Price Target to $127.00

Duke Energy (NYSE:DUKGet Free Report) had its target price lowered by Morgan Stanley from $133.00 to $127.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price objective points to a potential upside of 8.07% from the stock’s current price.

A number of other research firms have also recently weighed in on DUK. JPMorgan Chase & Co. raised their price objective on shares of Duke Energy from $136.00 to $141.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Truist Financial dropped their target price on shares of Duke Energy from $138.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, August 17th. BTIG Research reiterated a “buy” rating on shares of Duke Energy in a research note on Thursday, July 23rd. Barclays reduced their price target 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. Finally, Mizuho set a $136.00 price objective on shares of Duke Energy in a research note on Wednesday, August 5th. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $137.56.

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Duke Energy Stock Down 0.9%

Shares of Duke Energy stock traded down $1.03 during trading on Friday, hitting $117.51. 1,274,675 shares of the stock were exchanged, compared to its average volume of 3,959,476. The stock has a market cap of $91.62 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 2.75 and a beta of 0.37. The firm’s 50-day moving average price is $123.32 and its 200 day moving average price is $125.90. Duke Energy has a 12-month low of $113.89 and a 12-month high of $134.49. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.66 and a quick ratio of 0.43.

Duke Energy (NYSE:DUKGet Free Report) last issued its earnings results on Monday, August 3rd. The utilities provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The company’s revenue was up 1.1% compared to the same quarter last year. As a group, analysts forecast that Duke Energy will post 6.72 earnings per share for the current fiscal year.

Institutional Trading of Duke Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Core Capital Management & Research inc. acquired a new stake in Duke Energy during the 2nd quarter worth approximately $857,000. Sequoia Financial Advisors LLC increased 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 purchasing an additional 1,682 shares during the period. MCF Advisors LLC raised its stake in shares of Duke Energy by 7.2% during the second quarter. MCF Advisors LLC now owns 6,762 shares of the utilities provider’s stock worth $856,000 after purchasing an additional 456 shares during the last quarter. Archford Capital Strategies LLC raised its stake in shares of Duke Energy by 1.7% during the second quarter. Archford Capital Strategies LLC now owns 7,979 shares of the utilities provider’s stock worth $1,010,000 after purchasing an additional 137 shares during the last quarter. Finally, National Pension Service lifted its holdings in shares of Duke Energy by 1.8% during the second quarter. National Pension Service now owns 2,124,004 shares of the utilities provider’s stock worth $268,856,000 after purchasing an additional 36,835 shares during the period. 65.31% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Duke Energy (NYSE:DUK)

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