Mizuho Upgrades Duke Energy (NYSE:DUK) to “Outperform”

Mizuho upgraded shares of Duke Energy (NYSE:DUK) from a neutral rating to an outperform rating in a research note released on Tuesday, Marketbeat reports. They currently have $121.00 price target on the utilities provider’s stock, up from their previous price target of $116.00.

A number of other brokerages also recently issued reports on DUK. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 price target on shares of Duke Energy in a report on Thursday, August 29th. Bank of America upped their price target on Duke Energy from $116.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Barclays boosted their price objective on Duke Energy from $102.00 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. BMO Capital Markets increased their target price on Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Finally, Morgan Stanley upped their price objective on shares of Duke Energy from $114.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.85.

Duke Energy Price Performance

Shares of NYSE DUK opened at $120.76 on Tuesday. Duke Energy has a 52 week low of $85.79 and a 52 week high of $120.85. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. The firm has a market cap of $93.20 billion, a P/E ratio of 30.34, a P/E/G ratio of 3.06 and a beta of 0.46. The business’s 50 day moving average price is $115.00 and its 200 day moving average price is $106.67.

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

Duke Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s dividend payout ratio is presently 105.03%.

Insider Buying and Selling at Duke Energy

In other news, EVP Louis E. Renjel sold 540 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $113.64, for a total transaction of $61,365.60. Following the completion of the transaction, the executive vice president now directly owns 19,884 shares in the company, valued at approximately $2,259,617.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Duke Energy

A number of hedge funds have recently made changes to their positions in the stock. Northwest Investment Counselors LLC purchased a new position in shares of Duke Energy during the first quarter worth $25,000. Fortitude Family Office LLC grew its position in Duke Energy by 69.6% in the 2nd quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 119 shares in the last quarter. Riverview Trust Co purchased a new stake in Duke Energy during the first quarter worth about $30,000. Olistico Wealth LLC purchased a new position in shares of Duke Energy in the second quarter valued at approximately $30,000. Finally, Cedar Wealth Management LLC grew its holdings in shares of Duke Energy by 101.2% in the first quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

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.