KeyCorp Boosts Duke Energy (NYSE:DUK) Price Target to $114.00

Duke Energy (NYSE:DUK) had its price objective raised by KeyCorp from $112.00 to $114.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s target price suggests a potential upside of 6.42% from the company’s previous close. KeyCorp also issued estimates for Duke Energy’s Q2 2024 earnings at $1.01 EPS, Q3 2024 earnings at $1.90 EPS, Q4 2024 earnings at $1.65 EPS and FY2028 earnings at $7.54 EPS.

Other equities research analysts also recently issued research reports about the company. Barclays increased their price objective on Duke Energy from $99.00 to $102.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. BMO Capital Markets cut their price objective on Duke Energy from $110.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, July 11th. Bank of America increased their price objective on Duke Energy from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Morgan Stanley reduced their target price on Duke Energy from $103.00 to $98.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. Finally, Scotiabank reduced their target price on Duke Energy from $101.00 to $94.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.58.

Duke Energy Stock Performance

Shares of NYSE DUK opened at $107.12 on Monday. The stock has a fifty day moving average price of $102.51 and a two-hundred day moving average price of $98.21. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.50 and a current ratio of 0.78. The firm has a market cap of $82.67 billion, a P/E ratio of 26.91, a PEG ratio of 2.95 and a beta of 0.45. Duke Energy has a 1 year low of $83.06 and a 1 year high of $108.59.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.05. The firm had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.31 billion. Duke Energy had a return on equity of 9.25% and a net margin of 10.78%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the company posted $1.20 EPS. Research analysts forecast that Duke Energy will post 5.97 EPS for the current fiscal year.

Insider Activity

In other news, Director E Marie Mckee sold 1,695 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $102.31, for a total value of $173,415.45. Following the sale, the director now directly owns 4 shares of the company’s stock, valued at $409.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director E Marie Mckee sold 1,695 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $102.31, for a total value of $173,415.45. Following the sale, the director now directly owns 4 shares of the company’s stock, valued at $409.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Julia S. Janson sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $102.79, for a total value of $1,027,900.00. Following the completion of the sale, the executive vice president now directly owns 68,657 shares in the company, valued at $7,057,253.03. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,695 shares of company stock valued at $2,750,815. 0.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Duke Energy

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Duke Energy by 0.5% in the first quarter. Vanguard Group Inc. now owns 70,675,702 shares of the utilities provider’s stock valued at $6,835,047,000 after buying an additional 324,289 shares during the period. Capital Research Global Investors lifted its stake in shares of Duke Energy by 3.2% in the first quarter. Capital Research Global Investors now owns 11,493,340 shares of the utilities provider’s stock valued at $1,111,521,000 after buying an additional 352,320 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Duke Energy by 11.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,515,388 shares of the utilities provider’s stock valued at $799,599,000 after buying an additional 842,458 shares during the period. Franklin Resources Inc. lifted its stake in shares of Duke Energy by 0.5% in the fourth quarter. Franklin Resources Inc. now owns 8,113,443 shares of the utilities provider’s stock valued at $787,328,000 after buying an additional 42,782 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Duke Energy by 3.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,351,533 shares of the utilities provider’s stock valued at $228,193,000 after buying an additional 84,227 shares during the period. 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.