Duke Energy (NYSE:DUK) Price Target Lowered to $93.00 at Citigroup

Duke Energy (NYSE:DUK) had its target price lowered by Citigroup from $94.00 to $93.00 in a report issued on Friday, BenzingaRatingsTable reports. Citigroup currently has a neutral rating on the utilities provider’s stock.

Several other research firms have also weighed in on DUK. SunTrust Banks reduced their price objective on Duke Energy to $90.00 and set a hold rating for the company in a research note on Monday, November 11th. Mizuho assumed coverage on Duke Energy in a research note on Friday, November 22nd. They set a neutral rating and a $90.00 price objective for the company. Evercore ISI reissued a hold rating and set a $92.00 price objective on shares of Duke Energy in a research note on Wednesday, December 4th. UBS Group reissued a buy rating and set a $105.00 price objective on shares of Duke Energy in a research note on Thursday, January 2nd. Finally, Bank of America lowered Duke Energy to an underperform rating and raised their price objective for the stock from to in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $95.58.

NYSE DUK traded up $0.54 on Friday, reaching $93.72. 3,053,475 shares of the stock traded hands, compared to its average volume of 2,987,361. The firm’s fifty day simple moving average is $90.24 and its 200 day simple moving average is $91.29. The company has a quick ratio of 0.49, a current ratio of 0.72 and a debt-to-equity ratio of 1.24. The company has a market cap of $68.32 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 3.67 and a beta of 0.06. Duke Energy has a 12 month low of $84.28 and a 12 month high of $97.37.

Duke Energy (NYSE:DUK) last released 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 business 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 company’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $1.65 EPS. As a group, equities research analysts forecast that Duke Energy will post 5.03 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 14th will be issued a $0.945 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 4.03%. Duke Energy’s payout ratio is currently 80.08%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DUK. Massachusetts Financial Services Co. MA lifted its holdings 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 purchasing an additional 990,017 shares in the last quarter. BlackRock Inc. lifted its holdings 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 purchasing an additional 888,787 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Duke Energy by 19.9% in the second quarter. California Public Employees Retirement System now owns 5,267,847 shares of the utilities provider’s stock valued at $464,835,000 after purchasing an additional 873,282 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Duke Energy in the second quarter valued at $36,058,000. Finally, State Street Corp lifted its holdings 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 purchasing an additional 398,849 shares in the last quarter. Institutional investors own 60.16% of the company’s stock.

Duke Energy Company Profile

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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