Duke Energy (NYSE:DUK) Stock Rating Upgraded by Goldman Sachs Group

Goldman Sachs Group upgraded shares of Duke Energy (NYSE:DUK) from a sell rating to a buy rating in a research note published on Wednesday, Benzinga reports. The firm currently has $93.00 price target on the utilities provider’s stock, up from their prior price target of $88.00.

DUK has been the subject of several other reports. Barclays upgraded Duke Energy from an equal weight rating to an overweight rating and lowered their price objective for the stock from $99.00 to $98.00 in a research report on Thursday, November 21st. Citigroup lowered their price target on Duke Energy from $91.00 to $88.00 and set a neutral rating for the company in a research report on Tuesday, July 30th. Mizuho assumed coverage on Duke Energy in a research report on Friday, November 22nd. They set a neutral rating and a $90.00 price target for the company. Morgan Stanley raised their price target on Duke Energy from $95.00 to $96.00 and gave the stock an equal weight rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their price target on Duke Energy from $91.00 to $102.00 and gave the stock a neutral rating in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $94.27.

Shares of Duke Energy stock opened at $88.17 on Wednesday. The firm has a market capitalization of $64.56 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 3.65 and a beta of 0.07. Duke Energy has a fifty-two week low of $82.46 and a fifty-two week high of $97.37. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.49 and a current ratio of 0.72. The stock has a 50 day moving average of $92.05 and a 200 day moving average of $90.61.

Duke Energy (NYSE:DUK) last issued its quarterly earnings data on Friday, November 8th. The utilities provider reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.10. The company had revenue of $6.94 billion during the quarter, compared to analyst estimates of $7.24 billion. Duke Energy had a return on equity of 8.24% and a net margin of 14.10%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.65 earnings per share. Analysts forecast that Duke Energy will post 5.01 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.945 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.78 annualized dividend and a dividend yield of 4.29%. Duke Energy’s dividend payout ratio is currently 80.08%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Duke Energy by 1.9% in the second quarter. Vanguard Group Inc. now owns 59,914,178 shares of the utilities provider’s stock valued at $5,286,827,000 after acquiring an additional 1,102,963 shares in the last quarter. BlackRock Inc. raised its stake in shares of Duke Energy by 1.8% in the second quarter. BlackRock Inc. now owns 50,433,503 shares of the utilities provider’s stock valued at $4,450,250,000 after acquiring an additional 888,787 shares in the last quarter. State Street Corp raised its stake in shares of Duke Energy by 1.1% in the third quarter. State Street Corp now owns 37,751,534 shares of the utilities provider’s stock valued at $3,618,862,000 after acquiring an additional 398,849 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Duke Energy by 4.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 21,318,682 shares of the utilities provider’s stock valued at $2,043,609,000 after acquiring an additional 990,017 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Duke Energy by 43.9% in the second quarter. Invesco Ltd. now owns 11,711,714 shares of the utilities provider’s stock valued at $1,033,443,000 after acquiring an additional 3,574,870 shares in the last quarter. Institutional investors and hedge funds own 60.21% of the company’s stock.

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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Analyst Recommendations for Duke Energy (NYSE:DUK)

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