Duke Energy (NYSE:DUK) Reaches New 12-Month High – Should You Buy?

Shares of Duke Energy Co. (NYSE:DUK) reached a new 52-week high on Wednesday . The stock traded as high as $118.40 and last traded at $118.29, with a volume of 419231 shares. The stock had previously closed at $117.12.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DUK. Bank of America lifted their target price on Duke Energy from $116.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Wells Fargo & Company boosted their price target on Duke Energy from $110.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on Duke Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Barclays boosted their price objective on Duke Energy from $102.00 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Finally, The Goldman Sachs Group boosted their price target on Duke Energy from $102.00 to $113.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.85.

Duke Energy Trading Up 2.1 %

The company has a market cap of $92.30 billion, a P/E ratio of 29.43, a PEG ratio of 3.06 and a beta of 0.46. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.56. The stock’s 50 day moving average is $114.55 and its 200-day moving average is $106.30.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data 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 return on equity of 9.71% and a net margin of 14.29%. The firm had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $6.84 billion. During the same quarter last year, the company earned $0.91 earnings per share. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts anticipate that Duke Energy Co. will post 5.97 earnings per share for the current fiscal year.

Duke Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $1.045 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.18 dividend on an annualized basis and a yield of 3.49%. Duke Energy’s dividend payout ratio is presently 105.03%.

Insider Buying and Selling

In other news, EVP Louis E. Renjel sold 540 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 19,884 shares in the company, valued at $2,259,617.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Duke Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC acquired a new stake in shares of Duke Energy in the 1st quarter worth $25,000. Fortitude Family Office LLC increased its stake in shares of Duke Energy by 69.6% in the second 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 last quarter. Riverview Trust Co bought a new stake in shares of Duke Energy in the 1st quarter valued at approximately $30,000. Olistico Wealth LLC bought a new position in Duke Energy in the second quarter worth about $30,000. Finally, Cedar Wealth Management LLC lifted its stake in 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 buying an additional 169 shares during 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.