Duke Energy (NYSE:DUK) Price Target Cut to $94.00 by Analysts at Scotiabank (2024)

Posted by matt on Apr 25th, 2024

Duke Energy (NYSE:DUK – Free Report) had its price target reduced by Scotiabank from $101.00 to $94.00 in a research note released on Monday, Benzinga reports. They currently have a sector perform rating on the utilities provider’s stock.

A number of other research analysts also recently issued reports on DUK. Bank of America boosted their target price on shares of Duke Energy from $96.00 to $100.00 and gave the company a neutral rating in a research report on Thursday, April 11th. Evercore ISI upgraded shares of Duke Energy from an in-line rating to an outperform rating and boosted their target price for the company from $90.00 to $108.00 in a research report on Tuesday, January 23rd. Royal Bank of Canada upgraded shares of Duke Energy from a sector perform rating to an outperform rating and boosted their price target for the company from $101.00 to $113.00 in a research note on Wednesday, January 10th. Wells Fargo & Company decreased their price target on shares of Duke Energy from $103.00 to $100.00 and set an overweight rating for the company in a research note on Friday, February 9th. Finally, BMO Capital Markets decreased their price target on shares of Duke Energy from $101.00 to $99.00 and set an outperform rating for the company in a research note on Tuesday, April 16th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $100.62.

Check Out Our Latest Report on Duke Energy

Duke Energy Stock Up 0.8 %

NYSE:DUK opened at $98.96 on Monday. The firm’s 50 day simple moving average is $94.59 and its 200 day simple moving average is $93.63. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.74 and a quick ratio of 0.49. Duke Energy has a one year low of $83.06 and a one year high of $100.39. The company has a market cap of $76.34 billion, a PE ratio of 27.88, a P/E/G ratio of 2.61 and a beta of 0.46.

Duke Energy (NYSE:DUK – Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.02). The firm had revenue of $7.21 billion during the quarter, compared to analyst estimates of $7.24 billion. Duke Energy had a return on equity of 8.93% and a net margin of 9.78%. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.11 EPS. On average, research analysts anticipate that Duke Energy will post 5.99 earnings per share for the current year.

Insiders Place Their Bets

In other Duke Energy news, EVP Louis E. Renjel sold 3,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $92.57, for a total transaction of $277,710.00. Following the completion of the transaction, the executive vice president now owns 14,213 shares in the company, valued at $1,315,697.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Duke Energy

A number of large investors have recently modified their holdings of the company. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in shares of Duke Energy by 3.3% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,390 shares of the utilities provider’s stock valued at $328,000 after acquiring an additional 109 shares during the period. Breakwater Capital Group boosted its position in shares of Duke Energy by 3.9% in the first quarter. Breakwater Capital Group now owns 2,912 shares of the utilities provider’s stock valued at $282,000 after acquiring an additional 109 shares during the period. First Command Advisory Services Inc. boosted its position in shares of Duke Energy by 1.4% in the fourth quarter. First Command Advisory Services Inc. now owns 7,949 shares of the utilities provider’s stock valued at $771,000 after acquiring an additional 110 shares during the period. Chemung Canal Trust Co. boosted its position in shares of Duke Energy by 0.8% in the fourth quarter. Chemung Canal Trust Co. now owns 14,483 shares of the utilities provider’s stock valued at $1,405,000 after acquiring an additional 113 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in shares of Duke Energy by 9.0% in the first quarter. Venturi Wealth Management LLC now owns 1,380 shares of the utilities provider’s stock valued at $133,000 after acquiring an additional 114 shares during the period. 65.31% of the stock is currently owned by institutional investors.

About Duke Energy

(Get Free Report)

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.

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