KeyCorp Raises Duke Energy (NYSE:DUK) Price Target to $121.00

Duke Energy (NYSE:DUK) had its price objective raised by KeyCorp from $117.00 to $121.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

A number of other equities research analysts have also commented on DUK. Morgan Stanley raised their price objective on Duke Energy from $99.00 to $114.00 and gave the stock an equal weight rating in a research report on Thursday, August 15th. Bank of America boosted their price objective on shares of Duke Energy from $116.00 to $118.00 and gave the company a neutral rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. increased their target price on shares of Duke Energy from $111.00 to $120.00 and gave the stock a neutral rating in a research report on Monday, August 12th. Scotiabank boosted their price target on shares of Duke Energy from $104.00 to $113.00 and gave the company a sector perform rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada reissued an outperform rating and set a $135.00 price objective on shares of Duke Energy in a research report on Thursday, August 29th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Duke Energy presently has a consensus rating of Moderate Buy and a consensus price target of $116.36.

Duke Energy Price Performance

NYSE DUK opened at $115.14 on Monday. Duke Energy has a 1 year low of $83.06 and a 1 year high of $118.31. The stock’s 50-day moving average price is $112.33 and its two-hundred day moving average price is $103.66. The company has a market cap of $88.86 billion, a PE ratio of 28.93, a PEG ratio of 3.19 and a beta of 0.47. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.56.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.02 by $0.16. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. The business had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $6.84 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. On average, analysts predict that Duke Energy will post 5.97 EPS for the current year.

Duke Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were paid a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.63%. This is an increase from Duke Energy’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, August 16th. Duke Energy’s dividend payout ratio (DPR) is presently 105.03%.

Insider Buying and Selling

In other news, EVP Louis E. Renjel sold 540 shares of Duke Energy stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $113.64, for a total value of $61,365.60. Following the transaction, the executive vice president now owns 19,884 shares of the company’s stock, valued at $2,259,617.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Duke Energy

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

Duke Energy Company Profile

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.