Bank of America downgraded shares of Duke Energy (NYSE:DUK – Free Report) from a buy rating to a neutral rating in a research report report published on Monday, MarketBeat reports. The brokerage currently has $96.00 price target on the utilities provider’s stock, down from their prior price target of $105.00.
DUK has been the subject of a number of other reports. Evercore ISI raised 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 note on Tuesday, January 23rd. Royal Bank of Canada upgraded Duke Energy from a sector perform rating to an outperform rating and raised their target price for the company from $101.00 to $113.00 in a research report on Wednesday, January 10th. StockNews.com upgraded Duke Energy from a sell rating to a hold rating in a research report on Friday, November 3rd. KeyCorp raised their price target on Duke Energy from $106.00 to $107.00 and gave the company an overweight rating in a report on Thursday, January 4th. Finally, Morgan Stanley upped their price objective on shares of Duke Energy from $93.00 to $95.00 and gave the stock an equal weight rating in a report on Tuesday, November 21st. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $100.00.
Duke Energy Stock Performance
Duke Energy (NYSE:DUK – Get Free Report) last released its quarterly earnings data 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 company had revenue of $7.21 billion for the quarter, compared to analyst estimates of $7.24 billion. Duke Energy had a net margin of 9.78% and a return on equity of 8.93%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.11 EPS. As a group, analysts anticipate that Duke Energy will post 5.98 EPS for the current year.
Duke Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 18th. Investors of record on Friday, February 16th will be issued a dividend of $1.025 per share. This represents a $4.10 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend is Thursday, February 15th. Duke Energy’s payout ratio is 115.49%.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Cbre Investment Management Listed Real Assets LLC purchased a new stake in Duke Energy during the fourth quarter valued at about $41,874,000. Schulz Wealth LTD. purchased a new stake in shares of Duke Energy in the 4th quarter valued at approximately $243,000. Bank of Nova Scotia grew its position in Duke Energy by 92.4% during the 4th quarter. Bank of Nova Scotia now owns 171,096 shares of the utilities provider’s stock worth $16,603,000 after purchasing an additional 82,163 shares in the last quarter. Burkett Financial Services LLC acquired a new stake in Duke Energy during the 4th quarter valued at $923,000. Finally, Alley Investment Management Company LLC lifted its holdings in shares of Duke Energy by 11.6% in the fourth quarter. Alley Investment Management Company LLC now owns 55,457 shares of the utilities provider’s stock valued at $5,382,000 after purchasing an additional 5,765 shares in the last quarter. Institutional investors own 63.68% 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; and uses coal, hydroelectric, natural gas, oil, solar and wind sources, renewables, and nuclear fuel to generate electricity.
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