Duke Energy (NYSE:DUK) Downgraded by Bank of America to Neutral

Bank of America downgraded shares of Duke Energy (NYSE:DUKFree 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.

Read Our Latest Research Report on DUK

Duke Energy Stock Performance

Shares of DUK stock opened at $92.67 on Monday. The company has a market cap of $71.42 billion, a P/E ratio of 26.10, a PEG ratio of 2.42 and a beta of 0.48. The business has a 50 day moving average of $96.30 and a two-hundred day moving average of $92.30. Duke Energy has a 52 week low of $83.06 and a 52 week high of $100.44. The company has a quick ratio of 0.49, a current ratio of 0.74 and a debt-to-equity ratio of 1.50.

Duke Energy (NYSE:DUKGet 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

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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.

Further Reading

Analyst Recommendations for Duke Energy (NYSE:DUK)

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