Morgan Stanley Increases Duke Energy (NYSE:DUK) Price Target to $122.00

Duke Energy (NYSE:DUKGet Rating) had its price target raised by investment analysts at Morgan Stanley from $113.00 to $122.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 5.55% from the company’s current price.

A number of other analysts also recently weighed in on DUK. Bank of America raised shares of Duke Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $108.00 to $110.00 in a report on Monday, February 14th. KeyCorp raised their price target on shares of Duke Energy from $119.00 to $121.00 and gave the company an “overweight” rating in a report on Wednesday. StockNews.com began coverage on shares of Duke Energy in a report on Thursday, March 31st. They set a “hold” rating for the company. Citigroup began coverage on shares of Duke Energy in a report on Tuesday, March 22nd. They issued a “buy” rating and a $120.00 price target for the company. Finally, BMO Capital Markets cut shares of Duke Energy from an “outperform” rating to a “market perform” rating in a research report on Friday, January 7th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $111.50.

Shares of Duke Energy stock traded up $1.12 during trading on Wednesday, reaching $115.59. The company had a trading volume of 14,246 shares, compared to its average volume of 2,947,270. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.42 and a current ratio of 0.62. Duke Energy has a fifty-two week low of $95.48 and a fifty-two week high of $115.96. The firm’s fifty day moving average is $106.62 and its 200-day moving average is $103.68. The company has a market cap of $88.99 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 3.39 and a beta of 0.35.

Duke Energy (NYSE:DUKGet Rating) last issued its quarterly earnings results on Thursday, February 10th. The utilities provider reported $0.94 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.94. The business had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.81 billion. Duke Energy had a net margin of 15.57% and a return on equity of 8.52%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 EPS. On average, research analysts anticipate that Duke Energy will post 5.47 EPS for the current fiscal year.

In other news, CEO Lynn J. Good sold 20,000 shares of the company’s stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $98.57, for a total value of $1,971,400.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Steven K. Young sold 415 shares of the company’s stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $104.55, for a total transaction of $43,388.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,852 shares of company stock worth $3,549,183. Insiders own 0.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cohen & Steers Inc. lifted its position in Duke Energy by 94,828.8% in the third quarter. Cohen & Steers Inc. now owns 1,905,221 shares of the utilities provider’s stock worth $185,931,000 after buying an additional 1,903,214 shares during the last quarter. BlackRock Inc. grew its stake in Duke Energy by 2.2% in the third quarter. BlackRock Inc. now owns 53,113,065 shares of the utilities provider’s stock valued at $5,183,304,000 after purchasing an additional 1,152,984 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Duke Energy by 142.5% during the third quarter. Renaissance Technologies LLC now owns 1,720,517 shares of the utilities provider’s stock worth $167,905,000 after acquiring an additional 1,011,167 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Duke Energy by 118.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,819,760 shares of the utilities provider’s stock worth $190,893,000 after purchasing an additional 984,905 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Duke Energy by 17.6% in the 2nd quarter. Morgan Stanley now owns 5,794,284 shares of the utilities provider’s stock valued at $572,012,000 after acquiring an additional 867,051 shares during the last quarter. 62.12% of the stock is owned by institutional investors and hedge funds.

About Duke Energy (Get Rating)

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; and uses coal, hydroelectric, natural gas, oil, renewable generation, and nuclear fuel to generate electricity.

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