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

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

Other equities research analysts have also recently issued reports about the company. Scotiabank increased their price objective on Duke Energy from $104.00 to $113.00 and gave the company a sector perform rating in a research report on Tuesday, August 20th. The Goldman Sachs Group increased their price objective on Duke Energy from $102.00 to $113.00 and gave the company a neutral rating in a research report on Monday, August 12th. KeyCorp upped their target price on Duke Energy from $117.00 to $121.00 and gave the company an overweight rating in a research note on Monday, September 16th. Morgan Stanley upped their target price on Duke Energy from $99.00 to $114.00 and gave the company an equal weight rating in a research note on Thursday, August 15th. Finally, Barclays upped their target price on Duke Energy from $99.00 to $102.00 and gave the company an overweight rating in a research note on Thursday, July 11th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Duke Energy currently has an average rating of Moderate Buy and a consensus target price of $116.36.

Duke Energy Stock Up 1.1 %

DUK opened at $116.36 on Wednesday. The business has a 50 day moving average price of $112.55 and a 200 day moving average price of $103.82. Duke Energy has a twelve month low of $83.06 and a twelve month high of $118.31. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.53 and a current ratio of 0.81. The firm has a market cap of $89.80 billion, a P/E ratio of 29.24, a price-to-earnings-growth ratio of 3.19 and a beta of 0.47.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share for the quarter, beating 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 company had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $6.84 billion. During the same period in the prior year, the business earned $0.91 earnings per share. Duke Energy’s revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts forecast that Duke Energy will post 5.97 EPS for the current year.

Duke Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were issued a dividend of $1.045 per share. This represents a $4.18 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Friday, August 16th. This is a boost from Duke Energy’s previous quarterly dividend of $1.03. Duke Energy’s dividend payout ratio is presently 105.03%.

Insider Transactions at Duke Energy

In other news, EVP Louis E. Renjel sold 540 shares of the stock in a transaction 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 sale, the executive vice president now owns 19,884 shares in the company, valued at $2,259,617.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Duke Energy

Hedge funds have recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in Duke Energy in the first quarter valued at about $25,000. Fortitude Family Office LLC raised its position in shares of Duke Energy by 69.6% during the second 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. Olistico Wealth LLC bought a new position in shares of Duke Energy during the 2nd quarter valued at about $30,000. Riverview Trust Co bought a new position in shares of Duke Energy during the 1st quarter valued at about $30,000. Finally, Sachetta LLC lifted its holdings in shares of Duke Energy by 41.9% during the 2nd quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 96 shares in the last quarter. 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.