Duke Energy (NYSE:DUK – Get Free Report) had its price objective hoisted by Morgan Stanley from $132.00 to $136.00 in a report issued on Wednesday,MarketScreener reports. Morgan Stanley’s target price would suggest a potential upside of 8.62% from the company’s current price.
Other equities research analysts have also recently issued research reports about the company. Mizuho cut their target price on Duke Energy from $139.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, June 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Duke Energy in a report on Monday, May 4th. Wells Fargo & Company boosted their price objective on shares of Duke Energy from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Monday, April 20th. UBS Group reduced their target price on shares of Duke Energy from $137.00 to $135.00 in a report on Monday, May 11th. Finally, Jefferies Financial Group decreased their target price on shares of Duke Energy from $143.00 to $138.00 in a research report on Monday, May 11th. Nine investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $138.33.
Get Our Latest Stock Analysis on Duke Energy
Duke Energy Price Performance
Duke Energy (NYSE:DUK – Get Free Report) last released its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.06. The firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.44 billion. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted $1.76 EPS. Research analysts predict that Duke Energy will post 6.71 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CEO Louis E. Renjel sold 3,500 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $125.15, for a total value of $438,025.00. Following the completion of the sale, the chief executive officer owned 21,415 shares of the company’s stock, valued at approximately $2,680,087.25. This represents a 14.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Harry K. Sideris sold 20,000 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the completion of the transaction, the chief executive officer directly owned 96,102 shares of the company’s stock, valued at $11,952,205.74. This represents a 17.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.12% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC increased its stake in shares of Duke Energy by 5,254.4% during the 1st quarter. Janus Henderson Group PLC now owns 2,735,816 shares of the utilities provider’s stock worth $358,227,000 after purchasing an additional 2,684,721 shares during the last quarter. Vanguard Group Inc. lifted its stake in Duke Energy by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 78,258,757 shares of the utilities provider’s stock valued at $9,172,709,000 after purchasing an additional 1,957,592 shares during the last quarter. Amundi grew its holdings in Duke Energy by 56.9% during the fourth quarter. Amundi now owns 2,662,460 shares of the utilities provider’s stock worth $312,067,000 after purchasing an additional 965,808 shares during the period. Franklin Resources Inc. increased its position in Duke Energy by 13.1% during the fourth quarter. Franklin Resources Inc. now owns 8,236,893 shares of the utilities provider’s stock worth $965,446,000 after buying an additional 954,907 shares during the last quarter. Finally, Milford Funds Ltd. bought a new stake in Duke Energy in the 4th quarter valued at $97,905,000. Institutional investors own 65.31% of the company’s stock.
Key Headlines Impacting Duke Energy
Here are the key news stories impacting Duke Energy this week:
- Positive Sentiment: Duke Energy lowered its proposed rate hike request after objections from North Carolina regulators and public criticism, a rare concession that may improve its chances of getting a settlement approved. Duke Energy reduces proposed rate increase following public pushback
- Positive Sentiment: The company also trimmed its request in front of the NC Utilities Commission, signaling flexibility in negotiations and potentially reducing regulatory uncertainty for Duke Energy Carolinas. Duke Energy takes rare step of lowering a rate request in front of the NC Utilities Commission
- Positive Sentiment: Despite a broader market slip, Duke Energy shares rose, supported by investor reaction to the rate-request reduction and the company’s defensive utility profile. Duke Energy (DUK) Increases Despite Market Slip: Here’s What You Need to Know
- Neutral Sentiment: Other coverage focused on Duke Energy’s storm-related outage restoration work and local construction impacts, which are operational updates but not major catalysts for the stock. Duke Energy working to restore power to thousands of customers after storms
- Neutral Sentiment: Environmental groups are also challenging North Carolina’s pause on Duke Energy solar projects, adding a policy headline but not an immediate earnings driver. Environmental groups challenge North Carolina’s pause on Duke Energy solar projects
Duke Energy Company Profile
Duke Energy Corporation is a U.S.-based electric power holding company headquartered in Charlotte, North Carolina. The company’s core business is the generation, transmission and distribution of electricity to residential, commercial and industrial customers. Duke Energy operates a mix of regulated electric utilities and non-regulated energy businesses, providing essential energy infrastructure and services across multiple states.
Its operating activities include owning and operating generation assets across a portfolio that encompasses nuclear, natural gas, coal, hydroelectric and an expanding array of renewable resources, as well as battery storage and grid modernization projects.
See Also
- Five stocks we like better than Duke Energy
- Frozen Assets: How Super Micro Puts AI Heat on Ice
- Marathon Petroleum Is Back, But Cycles Still Matter
- The SpaceX Sell-Off May Be More Than a Market Overreaction
- Chevron’s Microsoft Deal Turns Natural Gas Into an AI Trade
Receive News & Ratings for Duke Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Duke Energy and related companies with MarketBeat.com's FREE daily email newsletter.
