Duke Energy (NYSE:DUK) Reaches New 52-Week High – Should You Buy?

Duke Energy Co. (NYSE:DUK)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $118.40 and last traded at $118.29, with a volume of 419231 shares changing hands. The stock had previously closed at $117.12.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DUK. The Goldman Sachs Group lifted their price target on Duke Energy from $102.00 to $113.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Bank of America lifted their price target on Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Mizuho upgraded Duke Energy from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $116.00 to $121.00 in a report on Tuesday. Jefferies Financial Group assumed coverage on Duke Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $138.00 price objective on the stock. Finally, Scotiabank raised their price objective on Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Duke Energy has a consensus rating of “Moderate Buy” and an average price target of $121.85.

Duke Energy Trading Down 0.2 %

The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.53 and a current ratio of 0.81. The company has a 50-day simple moving average of $114.84 and a 200 day simple moving average of $106.50. The company has a market capitalization of $92.86 billion, a P/E ratio of 30.30, a P/E/G ratio of 3.06 and a beta of 0.46.

Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.02 by $0.16. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. The company had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $6.84 billion. During the same period in the previous year, the business posted $0.91 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Sell-side analysts expect that Duke Energy Co. will post 5.97 earnings per share for the current year.

Duke Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a dividend of $1.045 per share. This represents a $4.18 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s payout ratio is presently 105.03%.

Insider Transactions at Duke Energy

In related news, EVP Louis E. Renjel sold 540 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $113.64, for a total value of $61,365.60. Following the sale, the executive vice president now owns 19,884 shares of the company’s stock, valued at $2,259,617.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is owned by insiders.

Institutional Trading of Duke Energy

Institutional investors have recently bought and sold shares of the stock. Northwest Investment Counselors LLC acquired a new position in Duke Energy in the first quarter worth $25,000. Fortitude Family Office LLC boosted its stake in Duke Energy by 69.6% in the second quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 119 shares in the last quarter. Riverview Trust Co acquired a new position in Duke Energy in the first quarter worth $30,000. Olistico Wealth LLC bought a new stake in shares of Duke Energy during the second quarter worth $30,000. Finally, Cedar Wealth Management LLC raised its position in shares of Duke Energy by 101.2% during the first quarter. Cedar Wealth Management LLC now owns 336 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 169 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Duke Energy Company Profile

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.