Duke Energy (NYSE:DUK) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Duke Energy (NYSE:DUK) from a hold rating to a sell rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Several other analysts also recently commented on the company. JPMorgan Chase & Co. raised their price objective on Duke Energy from $136.00 to $141.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Mizuho set a $136.00 price target on Duke Energy in a report on Wednesday, August 5th. BMO Capital Markets dropped their price target on Duke Energy from $134.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 5th. BTIG Research reissued a “buy” rating on shares of Duke Energy in a research note on Thursday, July 23rd. Finally, 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 report on Monday, August 17th. Ten equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.56.

Duke Energy Stock Performance

Shares of DUK stock opened at $116.68 on Friday. The stock has a market cap of $90.98 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 2.74 and a beta of 0.37. The stock has a 50-day moving average of $122.96 and a 200-day moving average of $125.69. 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 has a one year low of $113.89 and a one year high of $134.49.

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

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Friday, August 14th were issued a dividend of $1.085 per share. The ex-dividend date was Friday, August 14th. This is a boost from Duke Energy’s previous quarterly dividend of $1.06. This represents a $4.34 dividend on an annualized basis and a dividend yield of 3.7%. Duke Energy’s dividend payout ratio is 65.17%.

Institutional Investors Weigh In On Duke Energy

Several institutional investors have recently bought and sold shares of the company. Basso Capital Management L.P. acquired a new stake in Duke Energy in the 4th quarter valued at $25,000. Evolution Wealth Management Inc. raised its holdings in Duke Energy by 1,111.1% during the fourth quarter. Evolution Wealth Management Inc. now owns 218 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Cornerstone Financial Management LLC acquired a new position in Duke Energy during the fourth quarter valued at approximately $28,000. Kingdom Financial Group LLC. acquired a new position in shares of Duke Energy during the 4th quarter worth approximately $33,000. Finally, IAG Wealth Partners LLC grew its stake in shares of Duke Energy by 154.6% in the first quarter. IAG Wealth Partners LLC now owns 275 shares of the utilities provider’s stock valued at $36,000 after buying an additional 167 shares in the last quarter. Institutional investors own 65.31% of the company’s stock.

About Duke Energy

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.