Duke Energy Corporation (DUK) Given “Buy” Rating at Royal Bank Of Canada
Royal Bank Of Canada reaffirmed their buy rating on shares of Duke Energy Corporation (NYSE:DUK) in a research note issued to investors on Tuesday. The brokerage currently has a $87.00 price objective on the utilities provider’s stock.
Several other research firms have also commented on DUK. BidaskClub upgraded Duke Energy Corporation from a sell rating to a hold rating in a research report on Monday, July 24th. Zacks Investment Research upgraded Duke Energy Corporation from a sell rating to a hold rating in a research report on Tuesday, June 13th. BMO Capital Markets restated a hold rating and set a $87.00 price target (up from $85.00) on shares of Duke Energy Corporation in a research report on Friday, August 4th. Deutsche Bank AG restated a hold rating and set a $84.00 price target (up from $83.00) on shares of Duke Energy Corporation in a research report on Wednesday, August 9th. Finally, Morgan Stanley raised their price target on Duke Energy Corporation from $87.00 to $89.00 and gave the stock an equal weight rating in a research report on Thursday, August 10th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $82.91.
Shares of Duke Energy Corporation (NYSE DUK) opened at 87.50 on Tuesday. The firm has a 50-day moving average price of $85.34 and a 200 day moving average price of $83.50. The stock has a market cap of $61.25 billion, a price-to-earnings ratio of 25.92 and a beta of 0.24. Duke Energy Corporation has a 52 week low of $72.34 and a 52 week high of $87.95.
Duke Energy Corporation (NYSE:DUK) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. The company had revenue of $5.56 billion during the quarter, compared to analyst estimates of $5.76 billion. Duke Energy Corporation had a return on equity of 7.72% and a net margin of 9.89%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 earnings per share. On average, analysts forecast that Duke Energy Corporation will post $4.60 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Friday, August 18th will be paid a $0.89 dividend. This is a boost from Duke Energy Corporation’s previous quarterly dividend of $0.86. This represents a $3.56 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Wednesday, August 16th. Duke Energy Corporation’s dividend payout ratio (DPR) is presently 105.64%.
In other Duke Energy Corporation news, EVP Douglas F. Esamann sold 5,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $86.22, for a total value of $431,100.00. Following the sale, the executive vice president now directly owns 50,316 shares in the company, valued at $4,338,245.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.07% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. Hennessy Advisors Inc. boosted its stake in Duke Energy Corporation by 1.5% in the first quarter. Hennessy Advisors Inc. now owns 379,737 shares of the utilities provider’s stock worth $31,142,000 after buying an additional 5,500 shares in the last quarter. Hexavest Inc. boosted its stake in Duke Energy Corporation by 4.4% in the first quarter. Hexavest Inc. now owns 780,241 shares of the utilities provider’s stock worth $63,988,000 after buying an additional 32,947 shares in the last quarter. Pegasus Partners Ltd. boosted its stake in Duke Energy Corporation by 0.5% in the first quarter. Pegasus Partners Ltd. now owns 23,034 shares of the utilities provider’s stock worth $1,889,000 after buying an additional 110 shares in the last quarter. Brookstone Capital Management boosted its stake in Duke Energy Corporation by 7.9% in the first quarter. Brookstone Capital Management now owns 78,707 shares of the utilities provider’s stock worth $6,455,000 after buying an additional 5,795 shares in the last quarter. Finally, Rothschild Investment Corp IL boosted its stake in Duke Energy Corporation by 0.3% in the first quarter. Rothschild Investment Corp IL now owns 48,836 shares of the utilities provider’s stock worth $4,005,000 after buying an additional 152 shares in the last quarter. Institutional investors own 56.22% of the company’s stock.
About Duke Energy Corporation
Duke Energy Corporation (Duke Energy) is an energy company. The Company operates through three segments: Electric Utilities and Infrastructure; Gas Utilities and Infrastructure, and Commercial Renewables. The Company operates in the United States through its direct and indirect subsidiaries. The Electric Utilities and Infrastructure segment provides retail electric service through the generation, transmission, distribution and sale of electricity to approximately 7.5 million customers within the Southeast and Midwest regions of the United States.
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