Duke Energy (NYSE:DUK) Sets New 12-Month High – Here’s What Happened
by Sarita Garza · The Markets DailyDuke Energy Corporation (NYSE:DUK – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $130.82 and last traded at $130.7290, with a volume of 664981 shares trading hands. The stock had previously closed at $129.23.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on DUK shares. Weiss Ratings restated a “buy (b)” rating on shares of Duke Energy in a research report on Monday, December 29th. Royal Bank Of Canada cut their target price on shares of Duke Energy from $143.00 to $140.00 and set a “sector perform” rating for the company in a research note on Friday, January 23rd. Jefferies Financial Group upped their price target on shares of Duke Energy from $125.00 to $141.00 and gave the stock a “hold” rating in a research report on Tuesday, February 17th. JPMorgan Chase & Co. lowered their price objective on Duke Energy from $136.00 to $126.00 and set a “neutral” rating on the stock in a report on Thursday, December 11th. Finally, Mizuho set a $130.00 price objective on Duke Energy in a research note on Tuesday, February 10th. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $135.75.
Duke Energy Trading Up 1.5%
The company has a current ratio of 0.55, a quick ratio of 0.33 and a debt-to-equity ratio of 1.54. The company has a fifty day moving average price of $120.80 and a two-hundred day moving average price of $122.06. The firm has a market capitalization of $102.04 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 2.80 and a beta of 0.51.
Duke Energy (NYSE:DUK – Get Free Report) last announced its quarterly earnings data on Monday, February 9th. The utilities provider reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.01. The firm had revenue of $7.94 billion for the quarter, compared to the consensus estimate of $7.57 billion. Duke Energy had a return on equity of 9.66% and a net margin of 15.41%.During the same quarter last year, the business posted $1.66 earnings per share. As a group, research analysts forecast that Duke Energy Corporation will post 6.33 earnings per share for the current fiscal year.
Duke Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 13th will be issued a $1.065 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $4.26 dividend on an annualized basis and a dividend yield of 3.2%. Duke Energy’s dividend payout ratio is currently 67.41%.
Insider Activity
In other Duke Energy news, SVP Regis T. Repko sold 962 shares of Duke Energy stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $127.86, for a total transaction of $123,001.32. Following the transaction, the senior vice president directly owned 3,896 shares of the company’s stock, valued at $498,142.56. The trade was a 19.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Louis E. Renjel sold 6,800 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $127.67, for a total transaction of $868,156.00. Following the completion of the sale, the chief executive officer directly owned 22,007 shares of the company’s stock, valued at approximately $2,809,633.69. This trade represents a 23.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Duke Energy
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Simon Quick Advisors LLC raised its position in shares of Duke Energy by 42.2% during the second quarter. Simon Quick Advisors LLC now owns 7,444 shares of the utilities provider’s stock worth $878,000 after purchasing an additional 2,210 shares during the period. Farther Finance Advisors LLC increased its stake in Duke Energy by 37.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 41,642 shares of the utilities provider’s stock worth $5,153,000 after purchasing an additional 11,409 shares in the last quarter. Applied Finance Capital Management LLC acquired a new stake in Duke Energy during the 3rd quarter worth about $1,046,000. Lockheed Martin Investment Management Co. lifted its stake in Duke Energy by 11.3% during the third quarter. Lockheed Martin Investment Management Co. now owns 274,630 shares of the utilities provider’s stock valued at $33,985,000 after buying an additional 27,820 shares in the last quarter. Finally, Alley Investment Management Company LLC boosted its holdings in shares of Duke Energy by 13.0% in the third quarter. Alley Investment Management Company LLC now owns 88,018 shares of the utilities provider’s stock worth $10,892,000 after buying an additional 10,108 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.
Duke Energy Company Profile
Duke Energy Corporation is a U.S.-based electric power holding company headquartered in Charlotte, North Carolina. The company’s core business is the generation, transmission and distribution of electricity to residential, commercial and industrial customers. Duke Energy operates a mix of regulated electric utilities and non-regulated energy businesses, providing essential energy infrastructure and services across multiple states.
Its operating activities include owning and operating generation assets across a portfolio that encompasses nuclear, natural gas, coal, hydroelectric and an expanding array of renewable resources, as well as battery storage and grid modernization projects.