BMO Capital Markets Boosts Duke Energy (NYSE:DUK) Price Target to $126.00

Duke Energy (NYSE:DUK) had its price objective raised by BMO Capital Markets from $120.00 to $126.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has an outperform rating on the utilities provider’s stock.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group increased their price target on shares of Duke Energy from $102.00 to $113.00 and gave the company a neutral rating in a research note on Monday, August 12th. Barclays raised their target price on shares of Duke Energy from $99.00 to $102.00 and gave the stock an overweight rating in a research note on Thursday, July 11th. Bank of America raised their target price on shares of Duke Energy from $116.00 to $118.00 and gave the stock a neutral rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. raised their target price on shares of Duke Energy from $111.00 to $120.00 and gave the stock a neutral rating in a research note on Monday, August 12th. Finally, Morgan Stanley raised their target price on shares of Duke Energy from $99.00 to $114.00 and gave the stock an equal weight rating in a research note on Thursday, August 15th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $116.36.

Duke Energy Stock Performance

Shares of DUK opened at $116.36 on Wednesday. Duke Energy has a 12 month low of $83.06 and a 12 month high of $118.31. The firm has a fifty day simple moving average of $112.55 and a 200 day simple moving average of $103.82. The stock has a market capitalization of $89.80 billion, a price-to-earnings ratio of 29.24, 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 announced its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. The firm had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $6.84 billion. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 earnings per share. Research analysts forecast that Duke Energy will post 5.97 EPS for the current fiscal year.

Duke Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were issued a $1.045 dividend. This is a positive change from Duke Energy’s previous quarterly dividend of $1.03. This represents a $4.18 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend was Friday, August 16th. Duke Energy’s dividend payout ratio (DPR) is currently 105.03%.

Insider Buying and Selling at Duke Energy

In other Duke Energy news, EVP Louis E. Renjel sold 540 shares of the firm’s stock in a transaction dated 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 directly owns 19,884 shares of the company’s stock, valued at approximately $2,259,617.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Duke Energy

Hedge funds have recently made changes to their positions in the stock. Northwest Investment Counselors LLC acquired a new stake in shares of Duke Energy in the 1st quarter valued at approximately $25,000. Fortitude Family Office LLC boosted its position in 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 buying an additional 119 shares during the period. Olistico Wealth LLC acquired a new stake in Duke Energy during the 2nd quarter worth approximately $30,000. Riverview Trust Co acquired a new stake in Duke Energy during the 1st quarter worth approximately $30,000. Finally, Sachetta LLC boosted its position in Duke Energy by 41.9% during the 2nd quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock worth $36,000 after buying an additional 96 shares during the period. 65.31% of the stock is currently 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.