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

Duke Energy Co. (NYSE:DUK) shares hit a new 52-week high on Monday after KeyCorp raised their price target on the stock from $117.00 to $121.00. KeyCorp currently has an overweight rating on the stock. Duke Energy traded as high as $118.25 and last traded at $117.93, with a volume of 271280 shares trading hands. The stock had previously closed at $117.31.

DUK has been the subject of a number of other research reports. Bank of America raised their price target on shares of Duke Energy from $116.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Morgan Stanley raised their price target on shares of Duke Energy from $99.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Evercore ISI raised their price target on shares of Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Duke Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $135.00 target price on shares of Duke Energy in a report on Thursday, August 29th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Duke Energy currently has an average rating of “Hold” and a consensus target price of $114.23.

Insider Buying and Selling

In related news, EVP Louis E. Renjel sold 540 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $113.64, for a total transaction of $61,365.60. Following the transaction, the executive vice president now directly owns 19,884 shares in the company, valued at $2,259,617.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Duke Energy

Institutional investors have recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in shares of Duke Energy in the 1st quarter valued at approximately $25,000. Fortitude Family Office LLC increased its stake in Duke Energy by 69.6% during the 2nd quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after buying an additional 119 shares during the period. Riverview Trust Co purchased a new stake in Duke Energy during the 1st quarter worth approximately $30,000. Olistico Wealth LLC purchased a new stake in Duke Energy during the 2nd quarter worth approximately $30,000. Finally, Cedar Wealth Management LLC increased its stake in Duke Energy by 101.2% during the 1st quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider’s stock worth $32,000 after buying an additional 169 shares during the period. 65.31% of the stock is owned by hedge funds and other institutional investors.

Duke Energy Stock Performance

The firm’s 50 day moving average is $111.85 and its two-hundred day moving average is $103.49. The stock has a market capitalization of $90.08 billion, a PE ratio of 29.33, a P/E/G ratio of 3.19 and a beta of 0.47. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.53 and a current ratio of 0.81.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.02 by $0.16. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. The company had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $6.84 billion. During the same quarter in the previous year, the business posted $0.91 EPS. The firm’s revenue was up 9.0% on a year-over-year basis. As a group, research analysts predict that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were paid a dividend of $1.045 per share. The ex-dividend date was Friday, August 16th. This represents a $4.18 dividend on an annualized basis and a yield of 3.58%. This is a boost from Duke Energy’s previous quarterly dividend of $1.03. Duke Energy’s dividend payout ratio is currently 105.03%.

About Duke Energy

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.