Duke Energy (NYSE:DUK) Given New $92.00 Price Target at Morgan Stanley

Duke Energy (NYSE:DUK) had its price objective cut by equities researchers at Morgan Stanley from $99.00 to $92.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 2.51% from the stock’s current price.

Several other brokerages have also recently commented on DUK. JPMorgan Chase & Co. set a $90.00 price target on shares of Duke Energy and gave the company a “hold” rating in a research report on Monday, May 20th. Barclays decreased their price objective on shares of Duke Energy from $96.00 to $94.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 18th. Bank of America cut shares of Duke Energy from a “neutral” rating to an “underperform” rating in a research report on Monday, May 13th. Zacks Investment Research cut shares of Duke Energy from a “hold” rating to a “sell” rating and set a $95.00 price objective for the company. in a research report on Wednesday, June 26th. Finally, ValuEngine cut shares of Duke Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 28th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Duke Energy has a consensus rating of “Hold” and a consensus price target of $90.50.

Shares of DUK stock opened at $89.75 on Thursday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.71 and a quick ratio of 0.49. Duke Energy has a 52 week low of $78.00 and a 52 week high of $91.67. The stock has a market cap of $65.34 billion, a PE ratio of 19.01, a PEG ratio of 3.71 and a beta of 0.12. The firm has a 50 day simple moving average of $88.59.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.14. Duke Energy had a net margin of 13.23% and a return on equity of 8.02%. The company had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter last year, the company posted $0.93 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. On average, sell-side analysts predict that Duke Energy will post 4.93 earnings per share for the current fiscal year.

In other Duke Energy news, EVP Lloyd M. Yates sold 5,117 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $88.20, for a total value of $451,319.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director E Marie Mckee sold 1,781 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $87.37, for a total transaction of $155,605.97. Following the completion of the sale, the director now directly owns 1 shares in the company, valued at approximately $87.37. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,598 shares of company stock worth $752,989. 0.09% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in DUK. OLD Second National Bank of Aurora increased its position in shares of Duke Energy by 4.1% in the first quarter. OLD Second National Bank of Aurora now owns 2,920 shares of the utilities provider’s stock worth $263,000 after acquiring an additional 114 shares in the last quarter. Glassman Wealth Services lifted its position in shares of Duke Energy by 35.2% in the 1st quarter. Glassman Wealth Services now owns 449 shares of the utilities provider’s stock worth $40,000 after buying an additional 117 shares during the last quarter. Trust Co. of Toledo NA OH lifted its position in shares of Duke Energy by 0.6% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 20,026 shares of the utilities provider’s stock worth $1,767,000 after buying an additional 122 shares during the last quarter. Atlas Brown Inc. lifted its position in shares of Duke Energy by 1.4% in the 1st quarter. Atlas Brown Inc. now owns 9,063 shares of the utilities provider’s stock worth $816,000 after buying an additional 123 shares during the last quarter. Finally, Palladium Partners LLC increased its holdings in shares of Duke Energy by 0.7% in the 2nd quarter. Palladium Partners LLC now owns 17,269 shares of the utilities provider’s stock worth $1,523,000 after acquiring an additional 124 shares during the period. 60.01% of the stock is currently owned by institutional investors.

About Duke Energy

Duke Energy Corp. engages in distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio.

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