Duke Energy (NYSE:DUK) Shares Gap Up – Here’s Why

Shares of Duke Energy Co. (NYSE:DUK) gapped up prior to trading on Thursday . The stock had previously closed at $120.39, but opened at $123.00. Duke Energy shares last traded at $124.23, with a volume of 4,135,379 shares traded.

Wall Street Analysts Forecast Growth

DUK has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of Duke Energy from $123.00 to $128.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. BMO Capital Markets upped their target price on shares of Duke Energy from $123.00 to $128.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Scotiabank lifted their price target on shares of Duke Energy from $113.00 to $120.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Jefferies Financial Group raised their price objective on Duke Energy from $129.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Guggenheim upped their target price on Duke Energy from $132.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.87.

Duke Energy Price Performance

The stock’s 50-day moving average is $115.86 and its 200 day moving average is $113.80. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.67 and a quick ratio of 0.44. The company has a market cap of $96.35 billion, a PE ratio of 21.72, a PEG ratio of 2.79 and a beta of 0.48.

Duke Energy (NYSE:DUK) last announced its earnings results on Thursday, February 13th. The utilities provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.05. Duke Energy had a return on equity of 9.50% and a net margin of 14.90%. On average, equities analysts anticipate that Duke Energy Co. will post 6.33 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 14th were issued a $1.045 dividend. The ex-dividend date was Friday, February 14th. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.37%. Duke Energy’s dividend payout ratio is currently 73.20%.

Hedge Funds Weigh In On Duke Energy

Hedge funds have recently made changes to their positions in the company. United Bank boosted its position in Duke Energy by 2.7% in the third quarter. United Bank now owns 4,764 shares of the utilities provider’s stock valued at $549,000 after buying an additional 127 shares during the last quarter. Benjamin Edwards Inc. increased its stake in shares of Duke Energy by 173,616.7% in the third quarter. Benjamin Edwards Inc. now owns 41,692 shares of the utilities provider’s stock worth $4,807,000 after acquiring an additional 41,668 shares during the period. HighTower Advisors LLC increased its stake in shares of Duke Energy by 14.7% in the third quarter. HighTower Advisors LLC now owns 581,498 shares of the utilities provider’s stock worth $66,999,000 after acquiring an additional 74,689 shares during the period. Janus Henderson Group PLC lifted its position in Duke Energy by 1.6% during the third quarter. Janus Henderson Group PLC now owns 96,936 shares of the utilities provider’s stock valued at $11,173,000 after purchasing an additional 1,500 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Duke Energy in the third quarter valued at $32,379,000. 65.31% of the stock is owned by institutional investors and hedge funds.

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.