Duke Energy (NYSE:DUK) Downgraded by Credit Suisse Group to “Neutral”

Credit Suisse Group lowered shares of Duke Energy (NYSE:DUKGet Rating) from an outperform rating to a neutral rating in a research report released on Friday, Marketbeat Ratings reports. They currently have $114.00 price target on the utilities provider’s stock, up from their previous price target of $112.00.

DUK has been the topic of several other research reports. Morgan Stanley boosted their target price on shares of Duke Energy from $107.00 to $114.00 and gave the company an equal weight rating in a report on Thursday, July 21st. Barclays dropped their target price on shares of Duke Energy from $119.00 to $110.00 in a report on Monday, July 18th. KeyCorp dropped their target price on shares of Duke Energy from $121.00 to $116.00 and set an overweight rating on the stock in a report on Tuesday, July 19th. UBS Group lowered shares of Duke Energy from a buy rating to a neutral rating and dropped their price objective for the company from $122.00 to $112.00 in a report on Thursday, June 30th. Finally, Wells Fargo & Company upped their price objective on shares of Duke Energy from $109.00 to $120.00 in a report on Tuesday, May 10th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Duke Energy has an average rating of Hold and a consensus price target of $111.91.

Duke Energy Stock Performance

Shares of Duke Energy stock opened at $109.16 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 1.27. Duke Energy has a twelve month low of $95.48 and a twelve month high of $116.33. The stock has a market cap of $84.04 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 3.35 and a beta of 0.34. The company’s fifty day moving average is $106.71 and its 200 day moving average is $107.24.

Duke Energy (NYSE:DUKGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The utilities provider reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.04). The business had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $5.79 billion. Duke Energy had a return on equity of 8.42% and a net margin of 14.50%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.15 EPS. Sell-side analysts forecast that Duke Energy will post 5.45 EPS for the current year.

Duke Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, August 12th will be given a $1.005 dividend. This represents a $4.02 dividend on an annualized basis and a yield of 3.68%. This is an increase from Duke Energy’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Thursday, August 11th. Duke Energy’s dividend payout ratio is presently 79.76%.

Insiders Place Their Bets

In other news, CFO Steven K. Young sold 415 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $44,716.25. Following the completion of the transaction, the chief financial officer now directly owns 114,072 shares of the company’s stock, valued at approximately $12,291,258. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 1,245 shares of company stock valued at $137,021. Corporate insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Masso Torrence Wealth Management Inc. bought a new position in Duke Energy in the 4th quarter worth approximately $33,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in Duke Energy in the 1st quarter worth approximately $33,000. Carl Stuart Investment Advisor Inc. bought a new position in Duke Energy in the 1st quarter worth approximately $33,000. Quent Capital LLC bought a new position in Duke Energy in the 4th quarter worth approximately $35,000. Finally, San Luis Wealth Advisors LLC purchased a new stake in Duke Energy in the 1st quarter worth approximately $35,000. 62.35% of the stock is owned by institutional investors.

About Duke Energy

(Get Rating)

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; and uses coal, hydroelectric, natural gas, oil, renewable generation, and nuclear fuel to generate electricity.

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Analyst Recommendations for Duke Energy (NYSE:DUK)

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